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Economic growth and income distribution implications of public spending and tax decisions

Darvas, Zsolt - 2020

by the ‘fiscal multiplier’ and the ‘quality of public finance’ literature. Public finance decisions also influence the … public finance structures and different levels of effectiveness and there is room for improvement in the growth and equality …The level and composition of public expenditures and revenues both have implications for economic development, as shown …

Persistent link: https://www.econbiz.de/10012301520

New life for an old framework: redesigning the European Union's expenditure and golden fiscal rules

Darvas, Zsolt; Anderson, Julia - 2020

expenditure rule anchored in an appropriate public debt target, augmented with an asymmetric golden rule that provides extra …

Persistent link: https://www.econbiz.de/10012301521

Introduction to the special section on the public finance – growth nexus

Darvas, Zsolt - 2020

-standing public finance problems, such as the sustainability of European welfare systems in the midst of ageing populations and the …The deep economic contraction triggered by COVID-19 results in large budget deficits and ballooning public debts, which … complex financial structures involving several countries. It is therefore even more important that scarce public resources are …

Persistent link: https://www.econbiz.de/10012382144

Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries

Darvas, Zsolt; Kostyleva, Valentina - 2011

This paper studies the role of fiscal and monetary institutions in macroeconomic stability and budgetary control in central, eastern and south-eastern European countries (CESEE) in comparison with other OECD countries. CESEE countries tend to grow faster and have more volatile output than...

Persistent link: https://www.econbiz.de/10010124059

Exchange Rate Policy and Economic Growth after the Financial Crisis in Central and Eastern Europe

Darvas, Zsolt - 2011

In a paper on the effects of the global financial crisis in Central and Eastern Europe (CEE), the author reacts to a paper of Åslund (2011) published in the same issue of Eurasian Geography and Economics on the influence of exchange rate policies on the region’s recovery. The author argues...

Persistent link: https://www.econbiz.de/10010124061

Debt Restructuring in the Euro Area: a Necessary but Manageable Evil?

Darvas, Zsolt - 2011

There are two possible responses to the Greek debt crisis: ‘Plan A’, continued official lending, for as long as needed, with possible voluntary private sector involvement, and ‘Plan B’, coercive preemptive or post-default restructuring with significant face value reduction in...

Persistent link: https://www.econbiz.de/10010124062

A Tale of Three Countries: Recovery after Banking Crises

Darvas, Zsolt - 2011

Highlights: • Iceland, Ireland and Latvia experienced similar developments before the crisis, such as sharp increases in banks’ balance sheets and the expansion of the construction sector. However the impact of the crisis was different: Latvia was hit harder than any other country in the...

Persistent link: https://www.econbiz.de/10010124064

Real effective exchange rates for 178 countries: A new database

Darvas, Zsolt - 2012

We use data on exchange rates and consumer price indices and the weighting matrix derived by Bayoumi, Lee and Jaewoo (2006) to calculate consumer price index-based REER. The main novelties of our database are that (1) it includes data for 178 countries –many more than in any other publicly...

Persistent link: https://www.econbiz.de/10010124217

Az árfolyamsávok empirikus modelljei és a devizaárfolyam sávon belüli előrejelezhetetlensége = Empirical models of exchange rate target zones

Darvas, Zsolt - 1999

A sávosan rögzített devizaárfolyamok elméleti és gyakorlati vizsgálatai a nemzetközi közgazdaságtan egyik legnépszerűbb témaköre volt a kilencvenes évek elején. A gyakorlati módszerek közül az alkalmazások és hivatkozások száma tekintetében az úgynevezett eltolódással...

Persistent link: https://www.econbiz.de/10010124219

Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic

Darvas, Zsolt; Rose, Andrew K.; Szapáry, György - 2005

Using a panel of 21 OECD countries and 40 years of annual data, we find that countries with similar government budget positions tend to have business cycles that fluctuate more closely. That is, fiscal convergence (in the form of persistently similar ratios of government surplus/deficit to GDP)...

Persistent link: https://www.econbiz.de/10010124312