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An early criticism of the Stability and Growth Pact has pointed to its asymmetric nature and the weak mechanisms to prevent politically-motivated fiscal policies: its constraints would bite in downswings but not in upswings, especially if in the latter the electoral cycle increases the...
Persistent link: https://www.econbiz.de/10005045766
Our research probes the firm valuation impact of partisan-motivated policy cycles. We first identify the micro-channels of policy transmission that link partisan policy disturbances to firm value. Then, we draw on firm-level data from 21 industrial democracies for the period extending from 1989...
Persistent link: https://www.econbiz.de/10010664750
Filipino politicians are frequently characterized as being driven by office-seeking motives. Despite this, surprisingly little systematic evidence is available to support the electoral-cycle hypothesis in the Philippines. This paper tests the real-world relevance of the longstanding belief in...
Persistent link: https://www.econbiz.de/10008677412
Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well … independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We …
Persistent link: https://www.econbiz.de/10011242239
Persistent link: https://www.econbiz.de/10004998604
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that gradually emerged in Sweden after the deep economic crisis of the early 1990s. By now, Swedish public finances stand … out among the strongest in Europe. Recent Swedish macroeconomic performance has been impressive. As Sweden and Portugal … are small open economies in the periphery of Europe, Sweden may serve as a fiscal model for Portugal. Policy lessons are …
Persistent link: https://www.econbiz.de/10010884881
financial crisis. Economic growth in Sweden has been moderate since global financial crisis of 2008–2009. The IMF report … of Swedish international banking groups are expected to benefit borrowers not only in Sweden but across the region. …
Persistent link: https://www.econbiz.de/10011245387
This paper studies why public finances in Sweden have remained very strong during the current financial crisis. Unlike … almost all other European countries, Sweden has had budget surpluses and a government debt ratio around 40 percent of GDP … during the recent crisis. We attribute this to two important factors. First, Sweden entered the crisis with strong public …
Persistent link: https://www.econbiz.de/10009385667