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The relation between budget deficits and growth : complicated but clear
Wray, L. Randall; Lin, Eric - 2024
economic theory offers several reasons to believe that growing deficits might be associated with slower growth, and would … relation between deficits and growth could be positive. Modern Money Theory, adopting Godley's sectoral balance approach …, Lerner's functional finance approach, and Minsky's theory of financial instability takes a more nuanced approach. Historical …
Persistent link: https://www.econbiz.de/10015069505
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Public Investment, Growth, and Debt Sustainability : Putting Together the Pieces
Buffie, Edward F. - 2012
We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv)...
Persistent link: https://www.econbiz.de/10013102262
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Total Debt is So Much More Than Just Sovereign Debt. Contingent Liabilities in Armenia, Belarus, Kyrgyz Republic, and Tajikistan
Vinokurov, Evgeny; Lavrova, Natalia; Taltaev, Dmitry - 2022
This study aims to contribute to understanding the potential risks and impacts of both explicit and implicit contingent liability shocks on government fiscal and debt positions in the EFSD recipient countries. Special attention is paid to the significance of state-owned enterprises and their...
Persistent link: https://www.econbiz.de/10013306908
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Good debt or bad debt?
Tamborini, Roberto - 2024
The public debt overhang spread across advanced countries, and the reform of the Stability and Growth Pact in the Euro Zone, have revived the polarization between those who think that debt is always good and those who think that debt is always bad. This paper presents a normative model of...
Persistent link: https://www.econbiz.de/10015133886
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Education versus infrastructure: is there a trade-off in an open economy with perfect capital mobility?
Konopczyński, Michał - In: Contemporary economics 18 (2024) 3, pp. 280-300
We present an open economy growth model incorporating various elements of fiscal policy, including government expenditure on education and public capital (infrastructure), budget deficit, internal and external public debt, public consumption, and four tax rates. This detailed description of...
Persistent link: https://www.econbiz.de/10015189601
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Determining the optimal public debt threshold for Nigeria
Omotosho, Babatunde S.; Bawa, Sani; Doguwa, Sani I. - In: CBN journal of applied statistics 7 (2016) 2, pp. 1-25
This paper investigates the existence of threshold effects in the relationship between public debt and economic growth in Nigeria using quarterly data. Generally, we found empirical support for an inverted U-shape relationship between public debt types and economic growth. For total public debt...
Persistent link: https://www.econbiz.de/10011661495
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Government debt influence on EU countries economic growth : importance of matching Maastricht criterion
Butkus, Mindaugas; Matuzevičiūtė, Kristina - In: Economic and environmental studies : a journal for … 16 (2016) 1, pp. 115-129
The paper aims to analyse the impact of government debt on the country’s economic growth. Beginning of the economic crisis in 2007 and rapid growth of government debt has attracted interest in this topic. Government debt-to-GDP ratio in the EU has increased from 58.7 to 86.8 percent from 2007...
Persistent link: https://www.econbiz.de/10011537643
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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It is evident that the proposed solutions for attacking...
Persistent link: https://www.econbiz.de/10011515832
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Austerity
Ntellas, Charēs; Niepelt, Dirk - 2014
We shed light on the function, properties and optimal size of austerity using the standard sovereign model augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired by a country and supported by its repayment...
Persistent link: https://www.econbiz.de/10010463597
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Austerity
Ntellas, Charēs; Niepelt, Dirk - 2014
We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired by a country and supported by its repayment...
Persistent link: https://www.econbiz.de/10010494118