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Getting Back on Track: Restoring Fiscal Sustainability in Ireland
Haugh, David - Economics Department, Organisation de Coopération et … - 2011
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...
Persistent link: https://www.econbiz.de/10009364451
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Sustaining the Momentum of Fiscal Reform in Hungary
Forthun, Colin; Hagemann, Robert P. - Economics Department, Organisation de Coopération et … - 2010
potential. These results should not lead to complacency. Some expenditure cuts, such as lower public salaries, may prove … difficult to sustain. Fiscal consolidation in the past owed both to expenditure cuts and revenue increases. As a result, and … public expenditure growth and improve public administration efficiency to reduce the public “footprint” on the economy and …
Persistent link: https://www.econbiz.de/10008642473
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The Political Economy of Fiscal Consolidation
Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2010
This paper explores the political economy of fiscal adjustment. It begins with an examination of the evidence for, and sources of, ‘deficit bias’, including political and governance factors, public attitudes, the role of financial markets and imprecision about which debt targets should be...
Persistent link: https://www.econbiz.de/10008587587
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The Fiscal Challenge in Portugal
Guichard, Stéphanie - 2006
to be complemented by additional reforms to strengthen expenditure control and in particular to reform the general …
Persistent link: https://www.econbiz.de/10012444186
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Brazil's Fiscal Stance during 1995-2005 : The Effect of Indebtedness on Fiscal Policy Over the Business Cycle
de Mello, Luiz - 2006
Brazil's fiscal adjustment since the floating of the real in 1999 has been impressive, even in periods of lacklustre growth. This suggests a remarkable fiscal effort to ensure public debt sustainability. To better gauge the magnitude of this adjustment effort, this paper applies the methodology...
Persistent link: https://www.econbiz.de/10012444388
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Interactions Between Monetary and Fiscal Policy: How Monetary Conditions Affect Fiscal Consolidation
Ahrend, Rudiger; Catte, Pietro; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2006
are more likely to fall during episodes characterised by greater reliance on current expenditure cuts. While this means …
Persistent link: https://www.econbiz.de/10005045818
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Bringing Belgian Public Finances to a Sustainable Path
Koźluk, Tomasz; Jousten, Alain; Høj, Jens - Economics Department, Organisation de Coopération et … - 2012
-year budgets, annual expenditure rules consistent with long-term targets and an enhanced role of an independent fiscal policy …
Persistent link: https://www.econbiz.de/10011276973
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What Promotes Fiscal Consolidation: OECD Country Experiences
Guichard, Stéphanie; Kennedy, Mike; Wurzel, Eckhard; … - Economics Department, Organisation de Coopération et … - 2007
expenditures has been associated with overall larger consolidation. Fiscal rules with embedded expenditure targets tended to be …
Persistent link: https://www.econbiz.de/10005046044
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Bringing French Public Debt Down: The Options for Fiscal Consolidation
Égert, Balázs - Economics Department, Organisation de Coopération et … - 2011
and tackling age-related costs are the obvious candidates to contain expenditure. On the revenue side, there is … significant potential for cutting tax expenditures. Furthermore, eliminating distortions in the tax base would encourage economic …
Persistent link: https://www.econbiz.de/10009003060
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Italy and the Euro Area Crisis: Securing Fiscal Sustainability and Financial Stability
Denk, Oliver - Economics Department, Organisation de Coopération et … - 2013
Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots. It reflects lingering anxieties over the euro...
Persistent link: https://www.econbiz.de/10011276838