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To consolidate or not to consolidate? : a multi-step analysis to assess needed fiscal sustainability

Afonso, António; Alves, José; Jalles, João Tovar - 2022

We assess the specific need (or its absence) of a country to implement a fiscal consolidation programme by focusing specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a primary balance above or below the...

Persistent link: https://www.econbiz.de/10012938962

Is fiscal policy coordination in EMU desirable?

Beetsma, Roel; Debrun, Xavier; Klaassen, Franc - 2001

It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...

Persistent link: https://www.econbiz.de/10011400878

Transatlantic monetary and fiscal policy interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

Persistent link: https://www.econbiz.de/10011509484

Estimating structural budget balances in developing Asia

Jalles, João Tovar - 2024

This paper reviews the current discussions, methods, and practices surrounding the estimation of reasonable proxies for the underlying fiscal position, a useful anchor for fiscal policy. An empirical application to developing Asian economies is carried out. There is no one-size fits all type of...

Persistent link: https://www.econbiz.de/10014507176

Keynesian, non-Keynesian or no effects of fiscal policy changes? : the EMU case

Aarle, Bas van - 2001

period to the Economic andMonetary Union (EMU). Using several approaches suggested in the literatureon fiscal adjustments and … their macroeconomic effects and in the literatureon EMU, we analyze the effects of the fiscal adjustments during this … periodon private consumption. Thereby, we also take the specific context of thetransition towards EMU explicitly into …

Persistent link: https://www.econbiz.de/10011400376

Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union

Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Persistent link: https://www.econbiz.de/10011410410

Government size and output volatility : should we forsake automatic stabilization?

Debrun, Xavier; Pisani-Ferry, Jean; Sapir, André - 2008

Persistent link: https://www.econbiz.de/10003739308

Making fiscal space happen : managing fiscal policy in a world of scaled-up aid

Heller, Peter S.; Katz, Menachem; Debrun, Xavier; … - 2006

Persistent link: https://www.econbiz.de/10003415536

Tying hands is not commitment : can fiscal rules and institutions really enhance fiscal discipline?

Debrun, Xavier (contributor) - 2007 - Jan. 2007

Persistent link: https://www.econbiz.de/10003456309

The impact of fiscal rules on public finances : theory and empirical evidence for the Euro area

Marneffe, Wim; Aarle, Bas van; Wielen, Wouter van der; … - 2010

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...

Persistent link: https://www.econbiz.de/10008808242