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Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2003

We compute public sector performance (PSP) and efficiency (PSE) indicators, comprising a composite and seven sub-indicators, for 23 industrialised countries. The first four sub-indicators are u0093opportunityu0094 indicators that take into account administrative, education and health outcomes...

Persistent link: https://www.econbiz.de/10009635959

Economic growth and budgetary components : a panel assessment for the EU

Afonso, António (contributor); … - 2008

In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total...

Persistent link: https://www.econbiz.de/10003636014

Government size, composition, volatility and economic growth

Afonso, António (contributor); Furceri, Davide (contributor) - 2008

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10003636033

Assessing long-term fiscal developments : a new approach

Afonso, António; Agnello, Luca; Furceri, Davide - 2009

We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...

Persistent link: https://www.econbiz.de/10003832368

The impact of numerical expenditure rules on budgetary discipline over the cycle

Holm-Hadulla, Fédéric; Hauptmeier, Sebastian; Rother, … - 2010

in the budgetary process expenditure policy might be prone to a pro-cyclical bias. However, this tendency may be … changes in the output gap, and (ii) numerical expenditure rules reduce this pro-cyclical bias. Moreover, the pro …-cyclical spending bias is found to be particularly pronounced for spending items with a high degree of budgetary flexibility …

Persistent link: https://www.econbiz.de/10003971314

Keynesian government spending multipliers and spillovers in the euro area

Cwik, Tobias; Wieland, Volker - 2010

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending - the Keynesian multiplier effect. Thus, we investigate whether the spending package...

Persistent link: https://www.econbiz.de/10008728755

Transmission of government spending shocks in the euro area : time variation and driving forces

Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010

This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...

Persistent link: https://www.econbiz.de/10003986626

Governments' payment discipline : the macroeconomic impact of public payment delays and arrears

Checherita-Westphal, Cristina; Klemm, Alexander; … - 2015

Persistent link: https://www.econbiz.de/10010516549

Fiscal sustainability and policy implications for the euro area

Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, … - 2009

In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy Committee and argue that ageing costs may be higher...

Persistent link: https://www.econbiz.de/10003826581

Does government spending crowd in private consumption? : Theory and empirical evidence for the euro area

Coenen, Günter (contributor); Straub, Roland (contributor) - 2005

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non-Ricardian households is in general...

Persistent link: https://www.econbiz.de/10003057293

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