Narrow search
Showing 1 - 10 of 402
Cover Image
A cross-country database of fiscal space
Kose, M. Ayhan; Kurlat, Sergio; Ohnsorge, Franziska; … - 2017
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012060231
Cover Image
An Empirical Investigation of the Strategic Use of Debt
Pettersson, Per - 1999
In this paper I test two models of strategic debt behavior. The general idea is that if a government anticipates the possibility of defeat in the next election it will try to use the debt strategically in order to influence the policy of its successor. Previous empirical studies have either...
Persistent link: https://www.econbiz.de/10010321712
Cover Image
Austerity
Dellas, Harris; Niepelt, Dirk - 2014
We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …
Persistent link: https://www.econbiz.de/10011430112
Cover Image
Empirical assessment of sustainability and feasibility of government debt: The Philippines case
Qin, Duo; Cagas, Marie Anne; Ducanes, Geoffrey; … - 2005
This paper develops empirical methods of assessing the sustainability and feasibility of public debt using the No Ponzi Game criterion, using the Philippines as the testing case. Both historical data and forecasts generated by a quarterly macro-econometric model are used in the assessment....
Persistent link: https://www.econbiz.de/10010289038
Cover Image
Fiscal consolidation in America: The policy options
Altshuler, Rosanne; Bosworth, Barry - 2011
This paper is focused on the options for reducing the U.S. fiscal deficit in the aftermath of the financial crisis. The first part of the paper is devoted to an assessment of the economic outlook and the impact of the financial crisis on the medium-term fiscal balance of the federal government....
Persistent link: https://www.econbiz.de/10010286962
Cover Image
Fiscal Sustainability in Emerging Market Countries with an Application to Ecuador
Alvarado, Carlos Díaz; Izquierdo, Alejandro; Panizza, Ugo - 2004
This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal...
Persistent link: https://www.econbiz.de/10010327194
Cover Image
The political economy of fiscal policy: Survey
Eslava, Marcela - 2006
This paper surveys the recent literature on the political economy of fiscal policy, in particular the accumulation of government debt. We examine three possible determinants of fiscal balances: opportunistic behavior by policymakers, heterogeneous fiscal preferences of either voters or...
Persistent link: https://www.econbiz.de/10010278241
Cover Image
Public debt, secular stagnation and functional finance
Skott, Peter - 2015
effects of debt on growth. A second result relates directly to austerity policies. The level of government consumption and the … structure of taxation influence the required debt ratio and, paradoxically, austerity policies are counterproductive on their …
Persistent link: https://www.econbiz.de/10011788879
Cover Image
Aggregate demand, functional finance and secular stagnation
Skott, Peter - 2016
This paper makes three main points. Fiscal policy, first, may be needed in the long run to maintain full employment and avoid secular stagnation. If fiscal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government...
Persistent link: https://www.econbiz.de/10011788888
Cover Image
Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
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