Der Autor zeigt, wie die Kennziffer Staatsverschuldung zu Bruttosozialprodukt beeinflußt werden kann. Die Veränderungen der Verschuldung hängen von der Entwicklung einzelner Variabler und ihrer Veränderung im Zeitablauf ab: Staatsausgaben, Bruttosozialprodukt, Transfers aus dem Ausland an...

In this paper we assess the impact of fiscal policy on private consumption. We find that there is substitution between private and public consumption but that it is of very limited magnitude (approximately 20 percent). It was also found that, in contrast to the Ricardian approach, the method of...

This paper analyzes the implications of a cost of deviating upwards from a public debt/output guideline, such as the 0.6 ratio in the Maastricht Treaty, in the context of a fiscal policymaking model. Given a preannounced timetable for enforcement, the dynamic paths of the tax rate and government...

This paper analyzes the implications of a cost of deviating upwards from a public debt/output guideline, such as the 0.6 ratio of the Maastricht Treaty, in the context of a policymaking fiscal model. Given a preannounced timetable for enforcement, the dynamic paths of the tax rate and government...

Do budget institutions play a role in explaining why government effectiveness is higher in some advanced countries than in others? Employing an original panel dataset that spans four different years (1991, 2003, 2007 and 2012) we find that budget centralization has a negative and significant...

This paper investigates the drastic reduction in public spending in OECD countries during the 1990s. Using a panel data set of 18 countries, we find this adjustment to be a general OECD development, beginning in 1994, and that participation in the Maastricht Treaty or in the Stability and Growth...