This study analyzes the relationship between budget deficits, government debt, and interest rates using Japanese data. Employing the event study methodology, we find that the directions, declarations, and implicit suggestions by Japanese prime ministers regarding economic countermeasures are...

On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...

This paper examines the fiscal impact of privatization revenues in 47 developing countries. There are many reasons that privatization is attractive for the central government of developing countries. If substantial, these revenues from the sale of state owned enterprises can present a potential...

This paper deals with the consequences of signing the Treaty on the establishment, coordination and governance in the European Union, also known as the "Tax Treaty". Thus, our article presents some general concepts on the relationship between taxation, fiscal policy and the European Union,...

The adequate monetary and fiscal policies are of great importance for the effects mitigation of the global financial crisis. The reduction of interest rates and fiscal stimulus should prevent further deteriorations in the money and capital markets as well as in the economy. Decreases in key...

This paper attempts to re-evaluate the long-run macroeconomic relationship between government revenues and expenditures of the Greek economy over the period 1999–2010. The empirical analysis applies the newly developed asymmetric ARDL cointegration methodology of Shin et al. (<CitationRef CitationID="CR44">2011</CitationRef>) which...</citationref>

Economic crises in recent years, might be seen as a natural result of governments’ unsustainable policies. Fiscal sustainability refers to the ability to maintain the government's current policies. The aim of this study is with the aid of intertemporal borrowing constraint approach imposed by...

The goal of the article is to identify specific features of realisation of the state policy and also internal and external factors that influence the state of state finance and to determine sources of replenishment and balancing of the State Budget of Ukraine. In the result of the study the...

The Treat of Maastricht focuses on two fiscal criteria: budget deficit and public debt. In this paper, it is our intention to deal with the first fiscal criterion, budget deficit, in Romania between 2008-2011 and to analyze the fiscal measures that have been taken to diminish it and reach the...