Showing 1 - 10 of 283
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012818360
This paper presents a systematic analysis of the availability and use of fiscal space in emerging and developing economies. These economies built fiscal space in the run-up to the Great Recession of 2008-09, which was then used for stimulus. This reflects a more general trend over the past three...
Persistent link: https://www.econbiz.de/10011696301
This paper studies empirically the consequences of retirement on health. We make use of a targeted retirement offer to … army employees 55 years of age or older. Before the offer was implemented in the Swedish defense, the normal retirement age … for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …
Persistent link: https://www.econbiz.de/10010464457
This paper derives a set of policy lessons for Portugal from the new fiscal framework including a fiscal policy council that gradually emerged in Sweden after the deep economic crisis of the early 1990s. By now, Swedish public finances stand out among the strongest in Europe. Recent Swedish...
Persistent link: https://www.econbiz.de/10013208695
This essay estimates the causal effect of postponing retirement on a wide range of health outcomes using Swedish … administrative data on cause-specific mortality, hospitalizations and drug prescriptions. Exogenous variation in retirement timing … retire with full pension benefits from 63 to 65. Instrumental variable estimation results show no evidence that postponing …
Persistent link: https://www.econbiz.de/10011695394
The aging of the global population is in the headlines following a report that China's population fell as deaths … China's exports. France is pushing through an increase of the retirement age in the face of what is called a demographic … financially unsustainable. This paper argues that most of the discussion and policy solutions proposed surrounding aging of …
Persistent link: https://www.econbiz.de/10014474474
This paper collects and reviews information about routes to retirement and exits from the labor force by older workers … in Sweden. It gives a concise survey of rules of the major retirement schemes covering disability, sickness and … retirement, joint retirement behavior of spouses, transition path probabilities, and successive exits in terms of a reduction in …
Persistent link: https://www.econbiz.de/10010321633
We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...
Persistent link: https://www.econbiz.de/10010287767
We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...
Persistent link: https://www.econbiz.de/10010288141
This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the...
Persistent link: https://www.econbiz.de/10010288159