The aim of this study is to develop a new framework (V-L-D) for detecting the short term vulnerabilities in fiscal policy for the European Union countries. The methodology relies ontwo distinct indicators: one showing the vulnerabilities signalled by the size of the cyclically adjusted budget...

In this paper, we investigate the issues regarding the stabilization of public debt and its decrease down to 60 per cent of GDP for selected European Union countries using the primary balance derived from the public debt dynamic model as a leading indicator. We find that there is a high...

We examine the historical dynamics of government debt in Post-Unification Italy, from 1861 to 2009. Unit root tests for the debt-GDP ratio are unable to reject either the non stationarity or the stationarity null hypothesis. Controlling debt dynamics for fiscal feedback policies of the...

We investigate the sustainability of Italy's public finances from 1862 to 2012 adopting a non-linear perspective. Specifically, we employ the smooth transition regression approach to explore the scope for non-linear fiscal adjustments of primary surpluses in response to the accumulation of debt....

The devaluation of the CFA Franc in 1994 generated a public investment boom in Senegal. The increase in public investment was made possible thanks to an improved budgetary situation related to the reduction in real terms of the public wage bill which had been too large for some time. The rise in...

This paper decomposes changes in poverty into growth and redistribution components, and employs several pro-poor growth concepts and indices to explore the growth, poverty and inequality nexus in Indonesia over the period 2002-2012. We find a ‘trickle-down’ situation, which the poor have...

The Asian Development Bank (ADB) provided support to the MOF to formulate a user-friendly and easily transferable computable general equilibrium (CGE) model to reflect the effect of changes in various public policies and forecast changes of fiscal policy on different sectors of the economy....

This paper assesses the political and socio-economic consequences of the Poverty Reduction Strategy (PRS) in Honduras. The analysis uses several techniques (poverty narratives, stakeholder analysis and taxonomy analysis) and quantitative and qualitative data (socioeconomic indicators, PRS...

The Pakistan's Poverty Reduction Strategy and the Draft Medium Term Development Framework recognize that the most effective means of reducing poverty is through the creation of productive and remunerative employment. This paper examines how these objectives can be made operational by examining...

A bias towards running deficits is an entrenched feature of fiscal policy making in most developed economies. Our paper examines whether this tendency is in any way associated with the personal distribution of income of a country. It takes inspiration from theoretical work according to which...