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How to starve the beast: fiscal and monetary policy rules
Martin, Fernando M. - 2019
Societies often rely on simple rules to restrict the size and behavior of governments. When fiscal and monetary policies are conducted by a discretionary and profligate government, I find that revenue ceilings vastly outperform debt, deficit and monetary rules, both in effectiveness at curbing...
Persistent link: https://www.econbiz.de/10012137093
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Improving the Stability and Growth Pact by integrating a proper accounting of public investments : a new attempt
Bogaert, Henri - 2016
Persistent link: https://www.econbiz.de/10011504523
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New evidence on the effectiveness of Europe’s fiscal restrictions
Poplawski-Ribeiro, Marcos - 2009
Persistent link: https://www.econbiz.de/10003927249
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Squaring the circle : how to guarantee fiscal space and debt sustainability with a European debt agency
Amato, Massimo; Saraceno, Francesco - 2022
Persistent link: https://www.econbiz.de/10013169324
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Choosing the European fiscal rule
Buss, Ginters; Grüning, Patrick; Tkačevs, Olȩgs - 2021
Persistent link: https://www.econbiz.de/10012792380
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A quantitative evaluation of the European commiccion's fiscal governance proposal
Darvas, Zsolt M.; Welslau, Lennard; Zettelmeyer, Jeromin - 2023
In the new European Union fiscal framework proposed by the European Commission in April 2023, medium-term fiscal adjustment requirements would be determined by country-by-country debt sustainability analysis (DSA), the 3 percent deficit ceiling and simple rules requiring minimum deficit and debt...
Persistent link: https://www.econbiz.de/10014372855
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Rules and risk in the euro area
Iara, Anna; Wolff, Guntram B. - 2011
With a unique data set summarizing the quality of rules-based fiscal governance in EU member states, we show that stronger fiscal rules in euro area members reduce sovereign risk premia, in particular in times of market stress. To do so, we develop a model of sovereign spreads that are...
Persistent link: https://www.econbiz.de/10009315724
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The cyclical behaviour of fiscal policy during the Covid-19 crisis
Heimberger, Philipp - 2022
Covid-19 crisis (2020-2021) was significantly more countercyclical than before - in particular in the Eurozone. We do not … performance over 2020-2021 was more in line with the past than for discretionary fiscal policy. Overall, fiscal policy in non-Eurozone … advanced countries is more countercyclical than in the Eurozone. However, the cyclicality varies markedly across countries. Our …
Persistent link: https://www.econbiz.de/10013373264
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A fiscal rule to achieve debt sustainability in Colombia
Arbeláez, María Angélica; Benítez, Miguel; Steiner, … - 2021
In order to enhance fiscal sustainability and regain “investment grade” credit rating, in 2011 Colombia implemented a fiscal rule (FR) on the Central Government's structural balance. Investment grade was rapidly attained, and FR targets were complied with, until 2019. Using the Synthetic...
Persistent link: https://www.econbiz.de/10012586878
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Secular decline in public investment: are national fiscal rules to blame?
Tkačevs, Oļegs - 2020
Persistent link: https://www.econbiz.de/10012302564