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Daniele, Gianmarco; Giommoni, Tommaso - 2021

We study how policies limiting the spending capacity of local governments may reduce corruption. We exploit the … both recorded corruption rates and corruption charges per euro spent. This effect emerges only in areas in which the DSP … put a binding cap on municipal capital expenditures. The reduction in corruption is linked to accountability incentives as …

Persistent link: https://www.econbiz.de/10012437907

Economic growth and the public deficit in EU member states in Central and Eastern Europe

Bökemeier, Bettina - In: Romanian journal of fiscal policy : RJFP 6 (2015) 1, pp. 47-53

This paper studies the determinants of economic growth and the role of the public budget in European Union (EU) member states in Central and Eastern Europe, that joined the European Union in 2004, with a balanced data set from 1996 until 2012. A special focus is set on the relationship between...

Persistent link: https://www.econbiz.de/10011504503

Debt sustainability analysis for euro area sovereigns : a methodological framework

Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017

The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...

Persistent link: https://www.econbiz.de/10011634439

Stock-flow adjustment - only a residual value? : evidence from European Union countries

Banaszewska, Monika - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 3, pp. 10-20

The aim of the article is to investigate the fiscal determinants of stock-flow adjustment (SFA). Previous literature suggests that SFA may be used strategically to reduce budget deficit and public debt. As such, SFA impairs fiscal transparency and may endanger fiscal sustainability. Therefore,...

Persistent link: https://www.econbiz.de/10012104430

New fiscal regulations for Europe

Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW weekly report : economy, politics, science : a … 9 (2019) 16/18, pp. 148-149

Current fiscal regulations worsened the economic situation in the euro area during the financial and sovereign debt crisis. Regulations that allow more flexibility during downturns and have a countercyclical effect are needed. Five suggestions for a new fiscal package: new spending rules,...

Persistent link: https://www.econbiz.de/10012007500

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

Monetary-fiscal policy relations in the euro area : the impact on the primary balance

Dascher-Preising, Fabienne; Greiner, Alfred - 2022

With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...

Persistent link: https://www.econbiz.de/10013335018

Numerical Compliance with EU Fiscal Rules: Facts and Figures from a New Database

Larch, Martin; Malzubris, Janis; Santacroce, Stefano - In: Intereconomics 58 (2023) 1, pp. 32-42

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...

Persistent link: https://www.econbiz.de/10014334679

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies within the current EU fiscal framework

Truger, Achim - 2015

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/10010511177

An investment initiative for fiscally constrained EU member states : the role of synergetic financial instruments

Zeilbeck, Severin - 2015

The economy of the European Union has not recovered from the impact of the economic and financial crisis. Growth rates remain low and investment activity is weak. This questions current economic policies of the Economic and Monetary Union, known as austerity. In opposition to fiscal contraction...

Persistent link: https://www.econbiz.de/10011380141

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