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In recent years, a lot of rules concerning government expenditures as well as tax revenues were changed in Germany. Government expenditures in relation to GDP were reduced, income tax rates were lowered and the budget deficit declined. The structure of government expenditures changed in favor of...
Persistent link: https://www.econbiz.de/10003812625
Persistent link: https://www.econbiz.de/10011647297
We show that (i) dynamic inefficiency may be empirically relevant in a modified Diamond model with imperfect competition, (ii) if fiscal policy is used to avoid inefficiency and maintain an optimal capital intensity, the required debt ratio will be inversely related to the growth rate, and (iii)...
Persistent link: https://www.econbiz.de/10010193872
An inquiry into the impact of external and domestic borrowings is considered timely for Nigeria, given the growing public debt profile amid deteriorating human capital development. Using data from 1990 to 2021, the study estimates the effects of domestic and external debts on Nigeria's human...
Persistent link: https://www.econbiz.de/10014514213
After a brief introduction dealing with critical opinions of some economists on the European austerity policy, the authors point out that austerity as a means of achieving fiscal consolidation and financial stability is applied when the fiscal domain is weak. After analyzing the effects of the...
Persistent link: https://www.econbiz.de/10011576575
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
Recent work on the relationship between tax structure and economic growth has offered little reliable evidence for developing countries. Yet it is in such countries where the greatest changes in tax structure not only have been seen over the past 30 years but will likely continue to be seen in...
Persistent link: https://www.econbiz.de/10011573226
This paper argues that fiscal convergence in the Euro area has been achieved at the expenses of real divergence in unemployment, investment and at, at least temporarily, growth. Statistical and econometric analysis support the view that the current fiscal framework has addressed debt...
Persistent link: https://www.econbiz.de/10011714062
Persistent link: https://www.econbiz.de/10012617494
, fiscal consolidation, privatization, and wealth taxation) and heterodox options (inflation, financial repression, debt …
Persistent link: https://www.econbiz.de/10012655299