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Determinants of the Public Debt and the Role of the Natural Resources: A Cross-Country Analysis

Sadik-Zada, Elkhan; Gatto, Andrea - 2019

This paper investigates the major drivers of the public debt growth in 184 countries. The underlying cross-country survey is conducted on the basis of the improved compilation of datasets on the central government debt for 2013. The study finds that oil abundance, economic growth rate, the share...

Persistent link: https://www.econbiz.de/10012146422

Banking, finance, and money: A socioeconomics approach

Wray, L. Randall - 2006

This paper briefly summarizes the orthodox approach to banking, finance, and money, and then points the way toward an alternative based on socioeconomics. It argues that the alternative approach is better fitted to not only the historical record, but also sheds more light on the nature of money...

Persistent link: https://www.econbiz.de/10010266447

European stabilization policy after the Covid-19 pandemic: More flexible integration or more federalism?

Andersson, Fredrik N. G.; Jonung, Lars - 2022

Crises are a major driving force behind cooperation in the European Union. This holds also for monetary and fiscal policy. During severe crises, cooperation has been enlarged and intensified. The recent covid-19 pandemic is a clear example of this pattern. The pandemic has had huge impact on the...

Persistent link: https://www.econbiz.de/10014318974

Redistribution in the age of austerity: Evidence from Europe, 2006-13

Schneider, Markus P. A.; Kinsella, Stephen; Godin, Antoine - 2015

We examine the relationship between changes in a country's public sector fiscal position and inequality at the top and bottom of the income distribution during the age of austerity (2006-13). We use a parametric Lorenz curve model and Gini-like indices of inequality as our measures to assess...

Persistent link: https://www.econbiz.de/10011784646

Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, Larry Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10011545297

Demand constraints and big government

Wray, L. Randall - 2007

In a series of articles and books, Harold Vatter and John Walker attempted to make the case that the American economy suffers from chronically insufficient demand that leads to growth below capacity. Of particular interest are a 1989 Journal of Post Keynesian Economics article that extends...

Persistent link: https://www.econbiz.de/10010266471

Working for a good retirement

Butrica, Barbara A.; Smith, Karen E.; Steuerle, C. Eugene - 2006

The choice of retirement age is the most important portfolio choice most workers will make. Drawing on the Urban Institute's Dynamic Simulation of Income model (DYNASIM3), this report examines how delaying retirement for nondisabled workers would affect individual retiree benefits, the solvency...

Persistent link: https://www.econbiz.de/10010266475

Fiscal deficit, capital formation, and crowding out in India: evidence from an asymmetric VAR model

Chakraborty, Lekha S. - 2007

This paper analyzes the real (direct) and financial crowding out in India between 197071 and 200203. Using an asymmetric vector autoregressive (VAR) model, the paper finds no real crowding out between public and private investment; rather, complementarity is observed between the two. The...

Persistent link: https://www.econbiz.de/10010266616

Budget credibility of subnational governments: Analyzing the fiscal forecasting errors of 28 states in India

Chakraborty, Lekha; Chakraborty, Pinaki; Shrestha, Ruzel - 2020

effective public finance management. Fiscal marksmanship analysis captures the extent of errors in the budgetary forecasting … fiscal forecasting errors for 28 states (except Telangana) in India for the period 2011-16. There is a heterogeneity in the … few crucial macro-fiscal variables where improving the forecasting techniques can provide better estimates. …

Persistent link: https://www.econbiz.de/10012610192

The aftermath of debt surges

Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021

Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of gross domestic product higher. Historically, elevated...

Persistent link: https://www.econbiz.de/10013373848

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