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Public debt and long-term interest rates: the case of Germany, Italy and the USA

Paesani, Paolo; Strauch, Rolf; Kremer, Manfred - 2006

The debate on the sustainability of public finances is closely related to the analysis of the financial and macroeconomic consequences of government debt accumulation. Focusing on the USA, Germany and Italy over the 1983-2003 period, the central issue addressed in this paper is how the...

Persistent link: https://www.econbiz.de/10011604702

Inflation Stabilization, Fiscal Deficits and Public Debt Management in Poland

van Wijnbergen, Sweder; Budina, Nina - 1999

Poland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assessPoland's domestic and foreign debt management policies and...

Persistent link: https://www.econbiz.de/10010324428

Testing for stationarity in a cointegrated system

Kunst, Robert M. - 2002

best test to be used jointly with a restriction test on self-cointegration is a modified version of the Dickey-Fuller test …

Persistent link: https://www.econbiz.de/10010292762

Cointegration analysis with state space models

Wagner, Martin - 2010

This paper presents and exemplifies results developed for cointegration analysis with state space models by Bauer and … Wagner in a series of papers. Unit root processes, cointegration and polynomial cointegration are defined. Based upon these … employed for cointegration analysis. By means of detailing the cases most relevant for empirical applications, the I(1), MFI(1 …

Persistent link: https://www.econbiz.de/10010294007

Argentinean real exchange rate 1900 - 2006: Testing purchasing power parity theory

dal Bianco, Marcos José - In: Estudios de Economía 35 (2008) 1, pp. 33-64

cointegration between the nominal exchange rate and the relative prices. In particular, the Argentinean RER appears to be trend …

Persistent link: https://www.econbiz.de/10010289485

Hidden Economies and the Socially Optimal Fiscal-Tax to Liquidity-Tax Ratio

Ercolani, Marco G. - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-6, pp. 1-32

Differential tax analysis is used to show how the socially optimal fiscal-tax to liquidity-tax ratio changes with the relative size of the tax-evading hidden economy. The smaller the relative size of the hidden economy, the larger the optimal fiscal-tax to liquidity-tax ratio. The empirical...

Persistent link: https://www.econbiz.de/10010295289

Are stationary hyperinflation paths learnable?

Adam, Klaus; Evans, George W.; Honkapohja, Seppo - 2003

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under …

Persistent link: https://www.econbiz.de/10010298287

Corruption, seigniorage and growth: theory and evidence

Blackburn, Keith; Neanidis, Kyriakos C.; Haque, M. Emranul - 2008

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

Persistent link: https://www.econbiz.de/10010264401

Taxation, corruption and the exchange rate regime

Hefeker, Carsten - 2009

The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption and improve the fiscal system. A monetary union,...

Persistent link: https://www.econbiz.de/10010264571

The accidental redistribution of seignorage wealth in the Eurosystem

Sinn, Hans-Werner; Feist, Holger - In: CESifo Forum 01 (2000) 3, pp. 27-29

Persistent link: https://www.econbiz.de/10011695630

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