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Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2008
Ponticelli, Jacopo; Voth, Hans-Joachim - Barcelona Graduate School of Economics (Barcelona GSE) - 2012
Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. The results show a clear correlation between fiscal retrenchment and instability. Expenditure cuts are...
Persistent link: https://www.econbiz.de/10010851354
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Measuring fiscal stance for the United Kingdom, 1920-1990
van der Eng, Pierre - Volkswirtschaftliche Fakultät, … - 1992
The purpose of this paper is twofold. First, it presents a very concise way of measuring fiscal stance. This procedure is based on the assumption that the ‘neutral change’ in the government budget can best be simulated with a long-term approximation of the underlying trend of total output....
Persistent link: https://www.econbiz.de/10011258592
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The Sustainability of Fiscal Policy in Italy: A Long-Term Perspective
Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2012
The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two … the time series approach (Trehan and Walsh, 1988). In this paper we analyze the sustainability of public debt in Italy … containing several statistical novelties: new time series estimates of public debt and GDP (respectively Banca d’Italia, 2008 and …
Persistent link: https://www.econbiz.de/10010548150
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Is the Italian Public Debt Really Unsustainable? An Historical Comparison (1861-2010)
Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2013
The aim of this paper is to analyze the sustainability of public debt in Italy during the last 150 years (1861-2010) by … employing a database containing several statistical novelties: new time series estimates of public debt and GDP (respectively … analyzed include public debt, primary and total deficits, nominal and real GDP rates of growth. Long-term analysis of new …
Persistent link: https://www.econbiz.de/10010636598
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Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2008
Ponticelli, Jacopo; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011
Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. The results show a clear correlation between fiscal retrenchment and instability. We test if the relationship...
Persistent link: https://www.econbiz.de/10009201119
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Giovanni Goria and the dilemmas in managing public finances
Sarcinelli, Mario - In: BANCARIA 02 (2010) February
In 1982 Giovanni Goria became Treasury Minister. In that role he tried on his own, without the support of a united party and a coherent coalition, to carry out a plan for the rehabilitation of public finances, which he was able to delineate, not to deliver. As other Treasury Ministers, before...
Persistent link: https://www.econbiz.de/10008479005
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Restoring Stability to Europe
Shelburne, Robert - Economic Commission for Europe (UN-ECE), United Nations - 2012
The eurozone is in political and economic crisis. This is due to the inadequate design of the institutional structure of the eurozone and to the current poor implementation of macroeconomic policy. In designing the eurozone, well established principles of economics were ignored and major...
Persistent link: https://www.econbiz.de/10010569083
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Impact of the transition on the TFP in Croatia
Raguž, Irena; Družić, Ivo; Tica, Josip - Ekonomski Fakultet, Sveučilište u Zagrebu - 2012
In this paper we investigate the impact transition had on the total factor productivity in Croatia. The analyzed data cover the period from 1952 to 2008. Our sample is interesting for several reasons. It includes first estimates of physical capital for Croatia in the pretransition period. In...
Persistent link: https://www.econbiz.de/10011006964
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Total factor productivity, domestic knowledge accumulation, and international knowledge spillovers in the second half of the twentieth century
Sanchis, Teresa; Sanchis-Llopis, Juan A.; Esteve, Vicente; … - In: Cliometrica, Journal of Historical Economics and … 9 (2015) 2, pp. 209-233
This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the twentieth century. We perform this analysis for several European countries (France, Germany, UK, and Spain) and the USA, extending Coe and Helpman’s (Eur...
Persistent link: https://www.econbiz.de/10011267792
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The roots of success: industrial growth in Italy reconsidered, 1911-1951
Felice, Emanuele; Carreras, Albert - Unitat d'Història Econòmica, Universitat Autònoma de … - 2012
This article reconsiders the growth of Italian industry from the First World War to the eve of the economic miracle, with the aid of sector-specific new value-added series, at three different price-bases. The new estimates reduce growth during the First World War, making the Italian case...
Persistent link: https://www.econbiz.de/10010548107