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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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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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Why don't we follow the rules? : drivers of compliance with fiscal policy rules in emerging markets
Ardanaz, Martin; Ulloa-Súarez, Carolina; Valencia, Oscar M. - 2023
Under what conditions do countries comply with their fiscal policy rules? We tackle this question in the context of emerging countries, with a specific focus on Latin America and the Caribbean, a region where fiscal rules have become increasingly common in recent decades. Based on an original...
Persistent link: https://www.econbiz.de/10014546272
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The indeterminacy of determinacy with fiscal, macro-prudential or Taylor rules
Chatelain, Jean-Bernard; Ralf, Kirsten - 2018
Persistent link: https://www.econbiz.de/10011997518
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Ramsey optimal policy versus multiple equilibria with fiscal and monetary interactions
Chatelain, Jean-Bernard; Ralf, Kirsten - 2019
Persistent link: https://www.econbiz.de/10012234663
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The existential trilemma of the EMU in a fiscal target-zone model
Della Posta, Pompeo; Tamborini, Roberto - 2021
Persistent link: https://www.econbiz.de/10013170849
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Monetary/fiscal interactions with forty budget constraints
Bassetto, Marco; Caracciolo, Gherardo Gennaro - 2021
Persistent link: https://www.econbiz.de/10012693458
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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