Similar Search Results

Macroeconomic and fiscal challenges faced by the Southern and Eastern Mediterranean region

Dąbrowski, Marek - 2014

The current fiscal imbalances and fragilities in the Southern and Eastern Mediterranean countries (SEMC) are the result of decades of instability, but have become more visible since 2008, when a combination of adverse economic and political shocks (the global and European financial crises, Arab...

Persistent link: https://www.econbiz.de/10010337694

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

Truger, Achim - 2014

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

Persistent link: https://www.econbiz.de/10010424293

The fiscal compact and current account patterns in Europe

Behrendt, Stefan - 2014

This paper shall give an overview of the implications to the sectoral balances stemming from the implementation of the Fiscal Compact in the Euro area in 2013. Since there is noew a more or less strict limit to deficit spending - absent from cyclical factors - some other sector has to make up...

Persistent link: https://www.econbiz.de/10010436737

Deficit policy within the framework of the stability and growth pact : empirical results and lessons for the fiscal compact

Afflatet, Nicolas - 2016

This paper examines the question whether joining EMU or the breach of the Stability and Growth Pact in 2003 had an … having joined EMU or after having breached the Pact in 2003. These results can be explained with the fact that the Pact was …

Persistent link: https://www.econbiz.de/10011488439

Fiscal sustainability : conceptual, institutional, and policy issues

Dąbrowski, Marek - 2016

Since 2008, the world economy has been facing the consequences of the global financial crisis. As a result, many economic policy paradigms have been revised, and this process is far from complete. The policy area, which needs a fundamental rethinking (especially in advanced economies), relates...

Persistent link: https://www.econbiz.de/10011706402

Desperate times call for desperate measures : government spending multipliers in hard times

Lee, Sokbae; Liao, Yuan; Seo, Myung Hwan; Shin, Youngki - 2020

We investigate state-dependent effects of fiscal multipliers and allow for endogenous sample splitting to determine whether the US economy is in a slack state. When the endogenized slack state is estimated as the period of the unemployment rate higher than about 12 percent, the estimated...

Persistent link: https://www.econbiz.de/10012237148

Partisan fiscal policy : evidence from Central and Eastern Europe

Schneider, Ondřej - 2019

This paper examines effects of political ideology of a governing party on fiscal outcomes, using data from eight Central and Eastern European countries in the 2001-2017 period. The analysis shows that there is a statistically significant effect of conservative governments on fiscal variables,...

Persistent link: https://www.econbiz.de/10012157827

Inflation dynamics under fiscal deficit regime switching in Mexico

Ramos-Francia, Manuel; García-Verdú, Santiago; … - 2018

We explore the dynamics of inflation, inflation expectations, and seigniorage-financed fiscal deficits in Mexico. To do so, we estimate the model in Sargent, Williams, and Zha (2009) using Mexican CPI inflation data. This model features dual expected inflation equilibriums and regime switching...

Persistent link: https://www.econbiz.de/10012165948

Economic stabilisation and performance in West Africa : the role of fiscal and monetary policy

Mesagan, Ekundayo P.; Yusuf, Ismaila A. - 2019

The study examines the impact of fiscal and monetary policy on economic performance and stabilisation in Nigeria … proxy economic performance and economic stabilisation respectively while fiscal policy is captured with deficit finance and … confirms that monetary policy significantly drives economic stabilisation in Nigeria and the Gambia, but insignificantly in …

Persistent link: https://www.econbiz.de/10012137607

The scarring effects of major economic downturns : the role of fiscal policy and government investment

Larch, Martin; Claeys, Peter; Van Der Wielen, Wouter - 2022

stabilisation tool. At the same time, there is ample evidence that major economic downturns produce lasting effects on real GDP in … fiscal expansion, and (ii) find the right time to pivot from short-term stabilisation to fiscal consolidation while …

Persistent link: https://www.econbiz.de/10013448651