Zusammenfassung Dieser Beitrag liefert einen Uberblick über die Bedeutung asymmetrischer makroökonomischer Strukturen in den EWU Mitgliedsländern für die einheitliche Geldpolitik. Zunächst wird im Rahmen eines Modells illustriert, welche grundsätzliche Bedeutung asymmetrischen...

Before the Real plan was launched, five major stabilization plans failed to control Brazil's chronic inflationary process. A loose-stance fiscal policy, associated with widespread price indexation and a passive-stance monetary policy, was thought to drive the ever-growing rate of prices as well...

Abstract The EU fiscal framework has often been criticised for not providing Member States with the right incentives to adopt structural reforms which would reduce implicit liabilities and improve sustainability. The Pact, as reformed in 2005, now includes a number of provisions that explicitly...

This article explains the structures and rules built into the New Zealand government’s financial management system which encourage entry into commitments such as public private partnerships. That the system provides a means of escape from the tight constraints imposed by fiscal targets, and...

Purpose – PPPs can impose important future public costs, while PPP government guarantees create explicit contingent liabilities similar to public debt obligations. The risk that arises from such partnerships must be transparently valued to assess a country's fiscal profile. The purpose of this...

Purpose – The relationship between state and peasants are reflected as the distribution of the economic benefits to each party. The purpose of this paper is to explore the essential change of the relationship from the fiscal term since the beginning of the new century....

Purpose – The purpose of the paper is to examine China's county‐level fiscal difficulties. A large portion of China's counties (county‐level cities) have to run with the shortage of financial resources and huge government debt. To make a suitable policy to solve this problem is a top...

Purpose – This paper seeks compare the current financial and economic problems with the problems facing the world economy in the 1930s. Design/methodology/approach – The paper argues that the Great Depression and the current problems have similar causes – excessive speculation, leading to...