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re-distributed political powers on both debt issuance and supervision. The results show that short-term deficits of local … more debt, while left-wing supervisory authorities tolerate more debt. These findings imply that political independence for …
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The paper focuses on public finance and the aspect of fiscal consolidation in Poland as economic consequences after the financial crisis in 2008. The study assumes that there is a wide range of needs for fiscal consolidation implementation in European post-crisis countries. Budgets of the vast...
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ratios, between, i) the debt and primary surplus, and ii) government expenditure and revenues. Both models show consistent … high-income countries. This also indicates that the fiscal policy can be sustainable (non-sustainable) even for the debt …
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