Similar Search Results

Work incentives and recent reforms of the tax and benefit system in Hungary

Ladányi, Tímea; Kierzenkowski, Rafał - 2012

the tax and benefit system in Hungary on some indicators of financial incentives to enter the labour market derived from … OECD tax and benefit models. While personal income taxes were cut and the system of tax allowances for families became more … generous other welfare benefits were reduced or phased out, which causes significant changes in the incentives for workers …

Persistent link: https://www.econbiz.de/10009690206

Macroeconomic uncertainties, prudent debt targets and fiscal rules

Fall, Falilou; Fournier, Jean-Marc - 2015

The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The...

Persistent link: https://www.econbiz.de/10011399529

Cross-country spillovers from fiscal consolidations

Goujard, Antoine - 2013

In many OECD countries, government debt reached levels over recent years that call for reduction over the medium to longer term to ensure public finance sustainability. This paper investigates the international transmission of fiscal consolidation shocks via trade flows. Using a measure of...

Persistent link: https://www.econbiz.de/10010230999

The effect of government debt, external debt and their interaction on OECD interest rates

Turner, David; Spinelli, Francesca - 2013

In the wake of the financial crisis there has been renewed focus on the importance of a country’s net external debt position in determining domestic interest rates and, relatedly, its vulnerability to a crisis. This paper extends the panel estimation of OECD countries described in Turner and...

Persistent link: https://www.econbiz.de/10010231409

Improving the fiscal framework to enhance growth in an era of fiscal consolidation in Slovakia

Klein, Caroline; Price, Robert W.; Wörgötter, Andreas - 2013

. Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of …

Persistent link: https://www.econbiz.de/10009711240

Ensuring debt sustainability amid strong economic uncertainty in Hungary

Beynet, Pierre; Kierzenkowski, Rafał - 2012

Despite a deep recession in 2009 and weak growth in subsequent years, Hungary’s fiscal position compares favourably with many other OECD countries. Nonetheless, the underlying fiscal balance started deteriorating in 2010 and 2011. Recognising this, Hungary’s government launched an ambitious...

Persistent link: https://www.econbiz.de/10009690137

Assessing the sensitivity of Hungarian debt sustainability to macroeconomic shocks under two fiscal policy reactions

Beynet, Pierre; Paviot, Edouard - 2012

5-year horizon, a stochastic debt simulation has been conducted by applying random shocks derived from historical …

Persistent link: https://www.econbiz.de/10009690186

Non-Keynesian effects of fiscal consolidation : an analysis with an estimated DSGE model for the Hungarian economy

Benk, Szilárd; Jakab, M. Zoltán - 2012

Using an estimated DSGE model for Hungary, the paper identifies the possible non-Keynesian channels through which a fiscal consolidation may manifest as expansionary. Simulations show that fiscal consolidation policies are typically contractionary. Nevertheless, taking into account some specific...

Persistent link: https://www.econbiz.de/10009690196

Europe's new fiscal rules

Barnes, Sebastian; Davidsson, David; Rawdanowicz, Łukasz - 2012

Europe is putting in place a new system of fiscal rules following the euro area sovereign debt crisis and decades of rising government to debt-to-GDP ratios. These include the so-called “six pack” to upgrade the Stability and Growth Pact to a new Treaty incorporating the “fiscal...

Persistent link: https://www.econbiz.de/10009690998

OECD forecasts during and after the financial crisis : a post mortem

Pain, Nigel; Lewis, Christine; Dang, Thai Thanh; Jin, Yosuke - 2014

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the...

Persistent link: https://www.econbiz.de/10010374419