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The benefits of fiscal consolidation in uncharted waters
Rother, Philipp; Schuknecht, Ludger; Stark, Jürgen - 2010
This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous...
Persistent link: https://www.econbiz.de/10011606273
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Fiscal policy rules in practice
Thams, Andreas - 2007
This paper analyzes German and Spanish fiscal policy using simple policy rules. We choose Germany and Spain, as both … 1990s.We focus on the question, how fiscal policy behaves under rising public debt ratios. It is found that both Germany … and seems to be non-permanent in the case of Germany. …
Persistent link: https://www.econbiz.de/10010263682
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Fiscal policy options in light of recent IMF research
Allen, Mark Le Gros - 2011
The financial crisis and recession have left a legacy of unusually large fiscal deficits and growing sovereign debt levels in most advanced economies. The paper uses recent research from the IMF to throw light on two questions: how much fiscal space is available to advanced countries before they...
Persistent link: https://www.econbiz.de/10011430862
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Eine natürliche Schuldenbremse im Finanzausgleich
Plachta, Robert C.; Groneck, Max - 2007
Die bestehenden Regeln zur Begrenzung der Staatsverschuldung im föderalen System Deutschlands sind unzureichend. Eine Aufteilung der Maastricht-Kriterien auf die Gebietskörperschaften setzt keine Anreize zur Vermeidung der Neuverschuldung, sofern die Obergrenzen erfüllt sind. Wir schlagen...
Persistent link: https://www.econbiz.de/10010297016
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Fiscal consolidation strategy
Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012
In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...
Persistent link: https://www.econbiz.de/10010311794
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Major public debt reductions: Lessons from the past, lessons for the future
Nickel, Christiane; Rother, Philipp; Zimmermann, Lilli - 2010
The financial crisis of 2008/2009 has left European economies with a sizeable public debt stock bringing back the question what factors help to reduce these fiscal imbalances. Using data for the period 1985-2009 this paper identifies factors determining major public debt reductions. On average,...
Persistent link: https://www.econbiz.de/10011605287
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Optimale Verschuldung, Konsolidierungstrajektorien und Makroeffekte
Heise, Arne - 2003
. Im empirischen Teil wird dann anhand eines Vergleichs der Finanzpolitik in Großbritannien und Deutschland zwischen den … möglichen Trajektorien diskriminiert, um daraus schließlich einige Konsequenzen für die gegenwärtige Diskussion in Deutschland …
Persistent link: https://www.econbiz.de/10010298485
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Die Finanzierung der deutschen Einheit: zum Umgang mit der Schuldenlast der Wiedervereinigung
Zinsmeister, Florian - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 2, pp. 146-160
Die Staatsverschuldung der Bundesrepublik Deutschland betrug Ende des Jahres 2008 1 518 Milliarden Euro. Ein großer …At the end of 2008, national debt in Germany reached 1.518 Billion Euros. A huge share of these liabilities has its … unity of Germany was mainly supposed to be installed through transfers. The mid 90's disillusion regarding growth potential …
Persistent link: https://www.econbiz.de/10010377882
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Empirical Studies on Public Debt and Fiscal Transfers
Reischmann, Markus Josef - 2016
the budget balance. The results show that stock-flow adjustments increased before elections. In Germany, stock … outside the core budget. Chapter 6 describes special funds in Germany and elaborates upon the purposes for which special funds …
Persistent link: https://www.econbiz.de/10011698353
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Finanzpolitik in Deutschland: Herausforderungen und Lösungswege
Boss, Alfred - 2009
impair economic growth. Some measures to reduce the budget deficit in Germany are proposed. …
Persistent link: https://www.econbiz.de/10010265251