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Sustaining the Momentum of Fiscal Reform in Hungary
Forthun, Colin; Hagemann, Robert P. - Economics Department, Organisation de Coopération et … - 2010
adoption in 2009 of a pension reform and a Fiscal Responsibility Act, creating a Fiscal Council and fiscal rules hold that …
Persistent link: https://www.econbiz.de/10008642473
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Restoring Japan's Fiscal Sustainability
Jones, Randall S.; Urasawa, Satoshi - Economics Department, Organisation de Coopération et … - 2013
With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that...
Persistent link: https://www.econbiz.de/10011276790
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Public Spending Efficiency in the Czech Republic: Fiscal Policy Framework and the Main Spending Areas of Pensions and Healthcare
Smidova, Zuzana - Economics Department, Organisation de Coopération et … - 2011
the retirement age will improve pension system sustainability. A new defined contribution tier is being introduced which … should help to diversify future retirement income. At the same time, there is uncertainty about the number of participants … defined benefit pension tier. Also, attention should be taken regarding administrative costs of the new tier, since these can …
Persistent link: https://www.econbiz.de/10009394364
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Fiscal Gimmickry in Europe: One-Off Measures and Creative Accounting
Koen, Vincent; Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2005
Accounting conventions usually leave some room for judgment, which governments may be tempted to take advantage of, especially when fiscal rules bite or threaten to do so. The European experience over the past decade -- documented here in great detail -- illustrates that fiscal gimmicks come in...
Persistent link: https://www.econbiz.de/10005046233
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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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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
This paper assesses how and in what circumstances, fiscal consolidations are affected by monetary conditions, using data covering 24 OECD countries over the past 25 years, Focusing on fiscal consolidation “episodes”, it is found that these tend to occur when large budget deficits threaten...
Persistent link: https://www.econbiz.de/10005045818
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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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The Fiscal Challenge in Portugal
Guichard, Stéphanie - 2006
pension system. On the revenue side, further simplifying the tax system and refraining from revising the tax legislation from …
Persistent link: https://www.econbiz.de/10012444186
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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
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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 … d’efficacité en améliorant le cadre d’action, notamment par l’instauration de budgets pluriannuels et la fixation de …
Persistent link: https://www.econbiz.de/10011276973