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The sustainability of public finances and fiscal policy coordination in the EMU
Hagen, Jürgen von - 2010
The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries … the internal market of the EU. This would increase the wedge between members and non-members of the euro area …
Persistent link: https://www.econbiz.de/10008664982
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Fiscal policy shocks in the euro area and the US : an empirical assessment
Burriel, Pablo; Castro, Francisco de; Garrote, Daniel; … - 2009
Persistent link: https://www.econbiz.de/10003932537
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A quarterly fiscal database for the euro area based on intra-annual fiscal information
Paredes, Joan; Pedregal, Diego J.; Pérez, Javier J. - 2009
Persistent link: https://www.econbiz.de/10003932587
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A quarterly fiscal database for the euro area based on intra-annual fiscal information
Paredes, Joan; Pedregal, Diego J.; Pérez, Javier J. - 2009
The analysis of the macroeconomic impact of fiscal policies in the euro area has been traditionally limited by the absence of quarterly fiscal data. To overcome this problem, we provide two new databases in this paper. Firstly, we construct a quarterly database of euro area fiscal variables for...
Persistent link: https://www.econbiz.de/10003969290
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Government bond risk premiums in the EU revisited : the impact of the financial crisis
Schuknecht, Ludger; Hagen, Jürgen von; Wolswijk, Guido … - 2010
This note looks at US$ and DM/Euro denominated government bond spreads relative to US and German benchmark bonds before and after the start of the current financial crisis. The study finds, first, that bond yield spreads before and during the crisis can largely be explained on the basis of...
Persistent link: https://www.econbiz.de/10003970438
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Government risk premiums in the bond market : EMU and Canada
Schuknecht, Ludger; Hagen, Jürgen von; Wolswijk, Guido … - 2007
Persistent link: https://www.econbiz.de/10003593181
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Fiscal discipline and growth in Euroland : experiences with the stability and growth pact
Hagen, Jürgen von - 2003
Persistent link: https://www.econbiz.de/10010515671
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Formal fiscal restraints and budget processes as solutions to a deficit and spending bias in public finances : US experience and possible lessons for EMU
Strauch, Rolf; Hagen, Jürgen von - 2001
Persistent link: https://www.econbiz.de/10010516938
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Sovereign risk premia in the European government bond market
Bernoth, Kerstin; Hagen, Jürgen von; Schuknecht, Ludger - 2004 - Revised, April 2004
This paper provides a study of bond yield differentials among EU eurobonds issued between 1991 and 2002. Interest … differentials between bonds issued by EU countries and Germany or the USA contain risk premia which increase with the debt, deficit … spreads between EU countries and Germany/USA. The start of the European Monetary Union had significant effects on the bond …
Persistent link: https://www.econbiz.de/10010519044
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Fiscal rules and fiscal performance in the EU and Japan
Hagen, Jürgen von - 2006
such rules in Japan and in the EU. Comparing the performance of fiscal policy in the 1980s and 1990s until 2003, we find … rule of the Maastricht Treaty had a significant impact on political budget cycles in the EU, but did little to constrain … fiscal rule in the EU has vanished. Next, we discuss the importance of budgetary institutions for the effectiveness of fiscal …
Persistent link: https://www.econbiz.de/10010374865