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Do EU fiscal rules support or hinder counter-cyclical fiscal policy?

Larch, Martin; Orseau, Eloïse; Van der Wielan, Wouter - 2020

shocks, discretionary measures remain ill-timed from a stabilisation perspective even when observable and politically more …

Persistent link: https://www.econbiz.de/10012306605

Towards effective social insurance in Latin America : the importance of countercyclical fiscal policy

Braun, Miguel (contributor); … - 2003 - [Elektronische Ressource]

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/10001793429

Fiscal sustainability in developing Asia

Adams, Charles; Ferrarini, Benno; Park, Donghyun - 2010

The central objective of this paper is to empirically examine the issue of fiscal sustainability in developing Asia. To do so, we first diagnose the region's public finances by analyzing the evolution of key fiscal indicators over time and across subregions. We then estimate fiscal policy...

Persistent link: https://www.econbiz.de/10003984753

Procyclical and countercyclical fiscal policies in non-euro EU member countries

Iancu, Aurel; Olteanu, Dan - 2022

The aim of this study is to determine the nature of the discretionary fiscal policy practiced by non-euro EU member states, namely to deduce some bias for one of the two types of fiscal policies - procyclical or countercyclical. For this purpose, we used time series for the period 1995-2020, of...

Persistent link: https://www.econbiz.de/10013472810

Enhancing the role of fiscal policy in New Zealand's macroeconomic stabilisation

Bernstein, Jenna; Gaukrodger, Ben; Parkyn, Oscar - 2024

This paper considers the role of fiscal policy in New Zealand's macroeconomic stabilisation. New Zealand … macroeconomic stabilisation. In contrast, fiscal policy is generally oriented around medium-term structural goals and debt … experience over recent economic cycles, fiscal policy may need to play a significant role in macroeconomic stabilisation in the …

Persistent link: https://www.econbiz.de/10015052086

Fiscal stimulus packages and uncertainty in times of crisis : the option of waiting can be valuable, though!

Belke, Ansgar (contributor) - 2009

Policymakers in the EU member states are currently shaping rescue packages to prevent the financial crisis hitting their economies with unmitigated force. Each government is responding to the emerging problems with a country-specific set of measures. Given the global nature of the crisis, would...

Persistent link: https://www.econbiz.de/10003811803

The political economy of the Covid-19 fiscal stimulus packages of 2020

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - 2021

Almost all countries announced fiscal support programs once COVID-19 hit. However, there was significant diversity in the magnitude and composition of these fiscal stimulus programs. These differences were determined by myriad political, financial, social, and economic factors - these factors...

Persistent link: https://www.econbiz.de/10012628797

Stimulus vs. austerity vs. default

Cuadra, Gabriel; Ramos-Francia, Manuel - 2014

There is an ongoing debate about austerity and stimulus in the Euro zone. Moreover, given the fiscal and financial problems in the region, a default has appeared likely at times. In this context, this paper develops a dynamic stochastic quantitative model of sovereign default with fiscal policy,...

Persistent link: https://www.econbiz.de/10010370901

The euro zone crisis : what would John Maynard do?

Ehnts, Dirk - 2016

In his letter to US President Franklin D. Roosevelt Keynes (1933) wrote about "the technique of recovery itself". An increase in output is brought about by an increase in purchasing power, Keynes argues, which can come from three sectors: households, firms and government. Using the IS/MY...

Persistent link: https://www.econbiz.de/10011516005

Structural budget balances in oil-rich countries : the cases of Azerbaijan, Kazakhstan, and Russia

Ahmadov, Vugar; Sarkarli, Ulvi; Rahmanov, Ramiz - 2018

This study aims to analyse the discretionary fiscal policy of Azerbaijan, Kazakhstan, and Russia for the period 2003-2015 using the structural budget balance (SBB). The SBB considers the permanent component of oil revenue and therefore clearly defines the discretionary fiscal position and the...

Persistent link: https://www.econbiz.de/10011927258