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The purpose of the present paper is to examine theoretically and empirically how the maturity structure of government debt is affected by changes in its main macroeconomic determining factors. We organize our investigation around a maturity-structure model for Greece in which the optimal...
Persistent link: https://www.econbiz.de/10011725339
This study examines reforms of public expenditure in industrialised countries over the past two decades. We distinguish ambitious and timid reformers and analyse in detail reform experiences in eight case studies of ambitious reform episodes. We find that ambitious reform countries reduce...
Persistent link: https://www.econbiz.de/10010297821
Persistent link: https://www.econbiz.de/10011604331
This study examines reforms of public expenditure in industrialised countries over the past two decades. We distinguish ambitious and timid reformers and analyse in detail reform experiences in eight case studies of ambitious reform episodes. We find that ambitious reform countries reduce...
Persistent link: https://www.econbiz.de/10011604680
The paper focuses on public finance and the aspect of fiscal consolidation in Poland as economic consequences after the financial crisis in 2008. The study assumes that there is a wide range of needs for fiscal consolidation implementation in European post-crisis countries. Budgets of the vast...
Persistent link: https://www.econbiz.de/10011984737
The paper examines the role of fiscal and monetary policy on the dynamics of monetary expansion in a macroeconomy. Its microeconomic structure defined by producers with neoclassical production functions, heterogeneous OLG consumers, and a stationary fiscal and monetary policy induces a...
Persistent link: https://www.econbiz.de/10012042141
This article aims to assess the impact of federal budget institutions on the primary deficit of the Brazilian Federal … performance, the results allow us to conclude that the institutional changes have contributed to a lower government deficit. …O presente artigo tem por objetivo avaliar o impacto das instituições orçamentárias federais no déficit primário do …
Persistent link: https://www.econbiz.de/10011858435
The Swiss fiscal rule or "debt brake" is applied to simulated data of economic output and fiscal revenues. The budget remains almost perfectly balanced and the debt ratio stable over the medium and long term: The cyclical adjustment of the debt brake is effective in terms of its primary...
Persistent link: https://www.econbiz.de/10011933276
concludes that netback pricing can help Russia to avoid a gas deficit. However, the gas supply in Russia will remain tight until …
Persistent link: https://www.econbiz.de/10011968324
and decisive measures - a clear sign that the government's pledge to cut the deficit is credible. …
Persistent link: https://www.econbiz.de/10010274800