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Rotten parents and disciplined children: A politico-economic theory of public expenditure and debt

Song, Zheng; Storesletten, Kjetil; Zilibotti, Fabrizio - 2008

This paper proposes a dynamic politico-economic theory of debt, government finance and expenditure. Agents have preferences over a private and government-provided public good, financed through labour taxation. Subsequent generations of voters choose taxation, government expenditure and debt...

Persistent link: https://www.econbiz.de/10010287737

What determines fiscal policy? Evidence from German states

Berger, Helge; Holler, Anika - 2007

This paper explores the factors behind the time path of real spending and revenue in the West German states from 1975 to 2004. The empirical approach stresses robustness and takes into account a large set of economic and political variables. Our results suggest that common economic factors and,...

Persistent link: https://www.econbiz.de/10010299142

Creative Accounting and Electoral Motives: Evidence from OECD Countries

Reischmann, Markus - 2015

Using an unbalanced panel of 27 OECD countries over the period 1970–2011, I examinewhether electoral motives influenced creative accounting. Governments engage in“below-the-line” operations, such as transactions in financial assets, that do not show upin the deficit figures but give rise...

Persistent link: https://www.econbiz.de/10011388141

Budgetary Policy and Unemployment Dynamics

von Thadden, Leopold; Kaas, Leo - 2001

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an...

Persistent link: https://www.econbiz.de/10010295705

AK-Modell mit Staatsverschuldung und fester Defizitquote

Bersch, Julia - 2004

Die Auswirkungen einer staatlichen Verschuldung auf das Wirtschaftswachstum werden im Rahmen eines erweiterten neoklassischen Wachstumsmodells mit AK-Technologie analysiert. Der Staat verfolgt das Ziel einer festen Defizitquote und einer langfristig konstanten Schuldenquote. In diesem Fall gibt...

Persistent link: https://www.econbiz.de/10010296576

Fiscal discipline and the cost of public dept service: some estiames for OECD countries

Ardagna, Silvia; Caselli, Francesco; Lane, Timothy - 2004

We use a panel of 16 OECD countries over several decades to investigate the effects of government debts and deficits on long-term interest rates. In simple static specifications, a one-percentage-point increase in the primary deficit relative to GDP increases contemporaneous long-term interest...

Persistent link: https://www.econbiz.de/10011604457

Numerical Compliance with EU Fiscal Rules: Facts and Figures from a New Database

Larch, Martin; Malzubris, Janis; Santacroce, Stefano - In: Intereconomics 58 (2023) 1, pp. 32-42

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...

Persistent link: https://www.econbiz.de/10014334679

The Simple Macroeconomics of Fiscal Austerity, Public Sector Debt and Deflation

Palley, Thomas I. - 2010

This paper explores the macroeconomics of fiscal austerity and deflation in an economy with public debt. A binding budget deficit cap destabilizes the economy by turning the government budget into an automatic destabilizer. Public debt helps maintain AD in the presence of deflation because...

Persistent link: https://www.econbiz.de/10010460486

Empirical Studies on Public Debt and Fiscal Transfers

Reischmann, Markus Josef - 2016

This volume includes five self-contained chapters in the fields of public debt and fiscal transfer schemes. After an introduction to the topic, chapter 2 shows that the institutional setting of fiscal policy making needs to be considered when assessing the sustainability of fiscal policy. Using...

Persistent link: https://www.econbiz.de/10011698353

Corruption under Austerity

Daniele, Gianmarco; Giommoni, Tommaso - 2021

We study how policies limiting the spending capacity of local governments may reduce corruption. We exploit the … both recorded corruption rates and corruption charges per euro spent. This effect emerges only in areas in which the DSP … put a binding cap on municipal capital expenditures. The reduction in corruption is linked to accountability incentives as …

Persistent link: https://www.econbiz.de/10012581972

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