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The fundamentals of sovereign debt sustainability: Evidence from 15 OECD countries.
Schoder, Christian - 2013
We study the sustainability of sovereign debt accumulation in 15 OECD countries using quarterly data from 1980 to 2010 … with a focus on how and in what countries debt sustainability changed after the commencement of the Euro Convergence … Criteria in 1997 as well as after the financial meltdown in 2007. We define sustainability as the validity of the inter …
Persistent link: https://www.econbiz.de/10010460534
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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 are Member States in the European Monetary Union (EMU) and underwent considerable increases in public debt in the early 1990s.We focus on the question, how fiscal policy behaves...
Persistent link: https://www.econbiz.de/10010263682
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Fiscal consolidation in the euro area: long-run benefits and short-run costs.
Coenen, Günter; Mohr, Matthias; Straub, Roland - 2008
In this paper, we examine the macroeconomic effects of alternative fiscal consolidation policies in the New Area-Wide Model (NAWM), a two-country open-economy model of the euro area developed at the European Central Bank (cf. Coenen et al., 2007). We model fiscal consolidation as a permanent...
Persistent link: https://www.econbiz.de/10011604948
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10011605312
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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 …
Persistent link: https://www.econbiz.de/10011606273
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The Sustainability of Public Finances in the EMU
von Hagen, Jürgen - In: CESifo DICE Report 09 (2011) 3, pp. 3-9
Persistent link: https://www.econbiz.de/10011696745
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Finanzielle Repression - ein Instrument zur Bewältigung der Krisenfolgen?
Homburg, Stefan; Herz, Bernhard; Erler, Alexander; … - In: Wirtschaftsdienst 93 (2013) 11, pp. 731-750
Niedrige oder sogar negative Realzinsen bestimmen seit Beginn der Krise die Kapitalmärkte in der Eurozone. Davon …
Persistent link: https://www.econbiz.de/10011418828
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Staatsschuldenkrise: Zeitbombe für die Währungsunion?
Homburg, Stefan; Hefeker, Carsten; Keuschnigg, Christian; … - In: ifo Schnelldienst 67 (2014) 15, pp. 3-30
? Stefan Homburg, Universität Hannover, ist skeptisch. Seiner Ansicht nach steckt die Eurozone in einer Zwickmühle. Etliche … Wirtschaftswachstum in Südeuropa, das aber unrealistisch sei. Wer die Lage der Eurozone nüchtern betrachte, müsse angesichts der Zunahme …
Persistent link: https://www.econbiz.de/10011693685
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Evidence on fiscal consolidations and the evolution of public debt in Europe
Cafiso, Gianluca; Cellini, Roberto - 2012
The objective of this paper is to gain insights into the relationship between deficit-reducing policies and the evolution of the debt/GDP ratio. We consider past events of fiscal consolidation in a selected group of EU countries, by using the new data set recently made available by Devries et...
Persistent link: https://www.econbiz.de/10010291546