In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and … conclude that the fiscal policy is consistent with the intertemporal budget constraint, i.e., it is sustainable in the panel of … between the primary budget deficit and the public debt defined in GDP ratios. Based on the cointegration test results, we …

This paper is focused on the options for reducing the U.S. fiscal deficit in the aftermath of the financial crisis. The … medium-term fiscal balance of the federal government. Is there a short-term trade-off between the need for further fiscal … stimulus and deficit reduction and how should it be managed? The second part of the paper examines the options for fiscal …

”, including the related assumptions. The most common responsibility principle, the “consumer responsibility”, assigns to … component of GHG emissions, and it neglects the dimensions of responsibility that are not related to consumption choices. We … estimate the distribution of household carbon footprints based on data from the 2011 French Household Budget Survey. Household …

This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a … comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal …

average of the Lyapunov exponents for the dynamic system generating DJIA returns is used as the stability measure, whereas the …

prevails, the fiscal position and the public debt are poor metrics for judging the viability of a public purpose and its pace … fiscal deficits or that the relation between the central bank and the treasury ought to be radically changed to allow direct … financing. The fiscal balance is not a proper policy goal because it leads to irrelevant or incorrect policymaking and because …

fiscal multipliers when the economy is in recession. We estimate a non- linear model allowing variations based on the state …

This study examines the effects of fragmented governments and fiscal authorities on budget deficits in Turkey along … the ratio of budget deficit to GNP. The paper draws attention to the unification and better coordination of fiscal … paper sheds light on various dispersion indices and their use in the field of political power and fiscal performance. The …

In this paper detailed information on the budget institutions of Latin American countries is collected. These …