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The unintended consequences of the debt: Will increased government expenditure hurt the economy?
Werner, Richard A. - 2011
In 2008, governments in many countries embarked on large fiscal expenditure programmes, with the intention to support the economy and prevent a more serious recession. In this study, the overall impact of a substantial increase in fiscal expenditure is considered by providing a novel analysis of...
Persistent link: https://www.econbiz.de/10010308564
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Fiscal policy in a growth framework
Gemmell, Norman - 2001
and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low … advances in endogenous growth theory have demonstrated that fiscal policy can have long-run effects on economic growth rates … unlikely to hold in low-income countries. Recent theory particularly stresses the importance for growth of the following. The …
Persistent link: https://www.econbiz.de/10010279253
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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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How to redesign the fiscal regime of the eurozone: An alternative take on lessons from US and eurozone experiences
Bibow, Jörg - 2019
This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto...
Persistent link: https://www.econbiz.de/10014565910
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The impact of high and growing government debt on economic growth: an empirical investigation for the euro area
Checherita-Westphal, Cristina; Rother, Philipp - 2010
This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...
Persistent link: https://www.econbiz.de/10011605283
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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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Temporary and persistent fiscal policy shocks
Sola, Sergio - 2012
Abstract This paper conducts an empirical investigation of the effects of temporary versus persistent fiscal policy shocks. Using data from the US I show that short lived fiscal expansions have a positive effect on output and consumption; while persistent fiscal shocks generate negative effects...
Persistent link: https://www.econbiz.de/10010316756
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Productive Government Expenditure and Economic Growth
Irmen, Andreas; Kühnel, Johanna - 2008
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10011422176
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Optimal fiscal policy over the business cycle
Occhino, Filippo - 2005
How should taxes, government expenditures, the primary and fiscal surpluses and government liabilities be set over the business cycle? We assume that the government chooses expenditures and taxes to maximize the utility of a representative household, utility is increasing in government...
Persistent link: https://www.econbiz.de/10010263265
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Productive government expenditure and economic growth
Irmen, Andreas; Kuehnel, Johanna - 2008
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10010264372