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Transparency and sustainable of budgetary policy in the new EU member states: Executive summary

Heinemann, Friedrich; Hauptmeier, Sebastian; Stegarescu, Dan - 2006

Persistent link: https://www.econbiz.de/10011288141

Returning to Surplus: New Zealand's Post-GFC Fiscal Consolidation Experience

Bose, Dhritidyuti; Philip, Renee; Sullivan, Richard - 2016

New Zealand's fiscal outlook deteriorated following the Global Financial Crisis, and in late 2008 fiscal projections showed net government debt in New Zealand increasing from 5% of GDP to around 40% within 10 years, mostly reflecting permanently lower expectations for future tax revenue. These...

Persistent link: https://www.econbiz.de/10012115711

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

Fiscal consolidation strategy

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...

Persistent link: https://www.econbiz.de/10010311794

Fiscal consolidation in America: The policy options

Altshuler, Rosanne; Bosworth, Barry - 2011

This paper is focused on the options for reducing the U.S. fiscal deficit in the aftermath of the financial crisis. The first part of the paper is devoted to an assessment of the economic outlook and the impact of the financial crisis on the medium-term fiscal balance of the federal government....

Persistent link: https://www.econbiz.de/10010286962

Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik

Heimberger, Philipp - 2016

Ergebnis ist, dass der restriktivere Mix aus Geld- und Fiskalpolitik in der Eurozone die im Vergleich zu den USA und … Finanzkrise im Vergleich von Eurozone, USA und Großbritannien. Die Eurozone erholte sich seit 2010 deutlich schleppender als die … theoretischen und empirischen Fachliteratur zum Einfluss von Fiskalpolitik auf die wirtschaftliche Entwicklung. Das zentrale …

Persistent link: https://www.econbiz.de/10012100198

Fiscal Taylor rules in the postwar United States

Reicher, Christopher Phillip - 2009

Recent research and events have brought fiscal policy back into the spotlight. Fiscal Taylor rules and error correction models have represented two different ways of quantifying the feedbacks from fiscal and economic conditions to fiscal policy decisions. This paper synthesizes these two ideas,...

Persistent link: https://www.econbiz.de/10010276372

Non-Keynesian effects of fiscal contraction in new member states

Rzonca, Andrzej; Cizkowicz, Piotr - 2005

Many economists are convinced that longer-term benefits from fiscal consolidation are in a trade-off with short-term deceleration in output growth. However, more recent research suggests that curbing fiscal imbalances contributes to faster growth already in the short term. This paper is about...

Persistent link: https://www.econbiz.de/10011604565

The importance of institutions in expansionary fiscal consolidations: A critical assessment of non-Keynesian effects

Benczes, István - 2006

The short-term effects of fiscal consolidation have attracted an increasing attention from both the academia and policy makers in the recent years. Authors in the literature on non-Keynesian effects usually put the emphasis on the need for the devaluation of the national currency, the...

Persistent link: https://www.econbiz.de/10011470760

Poltical trust and the success of fiscal consolidations

Győrffy, Dóra - 2007

The paper examines the effects of political trust on fiscal consolidations. Building on the works of Easton (1965) and Gamson (1968) a theoretical framework is derived on the main channels through which the success of fiscal consolidation can be affected by the level of political trust in the...

Persistent link: https://www.econbiz.de/10011470773

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