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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

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

The Swedish Experience of Fiscal Reform: Lessons for Portugal

Jonung, Lars - 2014

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

Turkish Voter Response to Government Incompetence and Corruption Related to the 1999 Earthquakes

Akarca, Ali T.; Tansel, Aysit - 2012

, and exposed rampant government corruption involving construction and zoning code violations, as a factor magnifying the … on the other hand, were responsible for the incompetence shown in providing relief, for involvement in corruption related … responsible for different types of corruption and mismanagement provided us with a unique data to differentiate between voter …

Persistent link: https://www.econbiz.de/10010500202

An investment initiative for fiscally constrained EU member states: The role of synergetic financial instruments

Zeilbeck, Severin - 2015

The economy of the European Union has not recovered from the impact of the economic and financial crisis. Growth rates remain low and investment activity is weak. This questions current economic policies of the Economic and Monetary Union, known as austerity. In opposition to fiscal contraction...

Persistent link: https://www.econbiz.de/10011381297

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Braun, Miguel; di Gresia, Luciano - 2003

Latin America is a volatile, crisis-prone region, with limited and inadequate social insurance. Therefore, the long-term as well as the recent poor suffer significantly during crises. Furthermore, social spending is procyclical in the region, but less so than total spending, indicating that the...

Persistent link: https://www.econbiz.de/10010327062

The euro crisis and the job guarantee: A proposal for Ireland

Wray, L. Randall - 2012

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Persistent link: https://www.econbiz.de/10010333043

Austerity in the Euro area: The sad state of economic policy in Germany and the EU

Truger, Achim - 2013

The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

Persistent link: https://www.econbiz.de/10010333079

A tale of two deficits: Public budget balance of reserve currency countries

Steiner, Andreas - 2013

Central banks invest their foreign exchange reserves predominantly in government bonds. The global accumulation of reserves therefore affects the equilibrium in the market for government bonds of reserve currency countries. By means of a panel data analysis we examine the relationship between...

Persistent link: https://www.econbiz.de/10010343288

Making the Euro viable: The Euro treasury plan

Bibow, Jörg - 2015

The euro crisis remains unresolved and the euro currency union incomplete and extraordinarily vulnerable. The euro regime's essential flaw and ultimate source of vulnerability is the decoupling of central bank and treasury institutions in the euro currency union. We propose a 'Euro Treasury'...

Persistent link: https://www.econbiz.de/10011545302

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