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In this paper the authors recall the history of Jubilee debt cancellations, emphasizing what their social purpose was at that time. They note that it would not be possible to copy that procedure exactly nowadays, primarily because most debt/credit relationships are intermediated via financial...
Persistent link: https://www.econbiz.de/10011822179
In this paper the authors recall the history of Jubilee debt cancellations, emphasizing what their social purpose was at that time. They note that it would not be possible to copy that procedure exactly nowadays, primarily because most debt/credit relationships are intermediated via financial...
Persistent link: https://www.econbiz.de/10011879005
Long shunned as slow and ill timed, the response to the Covid-19 pandemic initiated a reassessment of fiscal policy as stabilisation tool. At the same time, there is ample evidence that major economic downturns produce lasting effects on real GDP in spite of active fiscal policy interventions....
Persistent link: https://www.econbiz.de/10013450921
Throughout 2021, fiscal stimulus packages were introduced to jump-start the COVID-19 'post-pandemic' economic recovery process. While calls for economic recovery packages that promise to 'build back better' have come from many directions, the under-allocation of recovery resources directed at...
Persistent link: https://www.econbiz.de/10014477516
The study analyses the dynamics and the structure of Ukraine's public finances. It assesses the medium-term impact of fiscal austerity 2014-2016, examines fiscal sustainability and estimates further fiscal adjustment efforts. It evaluates the economic and social implications of current fiscal...
Persistent link: https://www.econbiz.de/10012100153
This paper deals with the debt-growth relationship using several time-series tools. The idea is to find out whether the inverse relationship between these variable can be detected without imposing any functional forms for the estimating relationship and whether the relationship does indeed...
Persistent link: https://www.econbiz.de/10012503042
The contribution of this paper is twofold. First, we introduce a daily vector autoregression (VAR) model for the US economy that allows discerning between lockdown shocks and a real business cycle shocks. With this methodology at hand, we then evaluate the impact of lockdown measures on economic...
Persistent link: https://www.econbiz.de/10012653881
This paper analyzes German and Spanish fiscal policy using simple policy rules. We choose Germany and Spain, as both … and Spain generally exhibit a positive relationship between government revenues and debt. Using Markov …
Persistent link: https://www.econbiz.de/10010263682
budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public …
Persistent link: https://www.econbiz.de/10011604821
As governments spend unprecedented sums of public money on pandemic related rescue and recovery measures, while humankind is facing mounting long-term challenges - and above all the climate crisis -, the question whether and to what extent COVID-19 recovery programmes contribute to countries'...
Persistent link: https://www.econbiz.de/10013185551