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...

The paper discusses the impact of austerity policy on economic performance in the eurozone countries after the global crisis that occurred in 2007-08. The undertaken fiscal consolidation efforts to cut government expenditure and increase government taxes which begun in 2010, aimed to return...

This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis. We combine the fiscal multipliers from the meta regression analysis in Gechert and Rannenberg (2014) to the fiscal consolidation measures that have been implemented in Greece...

Economics literature suggests that, even in the absence of fiscal costs, a persistently high and increasing public debt ratio may have a detrimental effect on long run economic growth in an economy that is not over-accumulating capital like Finland today. High public debt creates expectations...

During the late 1950s and early 1960s, when Japan experienced a period of rapid economic growth comparable to that of many other Asian countries today, government fiscal policy was largely facilitated by the Fiscal Investment and Loan Program ("FILP"). This paper examines whether it would be...

Economics literature suggests that, even in the absence of fiscal costs, a persistently high and increasing public debt ratio may have a detrimental effect on long run economic growth in an economy that is not over-accumulating capital like Finland today. High public debt creates expectations...

This paper analyses the impact of public expenditures and tax revenues on non‑oil economic growth in Azerbaijan for the period of 2000Q1‑2015Q2 by employing OLS, ARDL, FMOLS, DOLS, CCR and Granger Causality techniques. Different cointegration methods result in consistent results. In this...

The purpose of the study is to test for debt sustainability as well as assess the impact of public debt on economic growth in Ghana using annual time series data spanning from 1970 to 2014. The study employed the fiscal reaction function suggested by Bohn (1998) to test for the sustainability of...

Using the model derived by Bajo-Rubio (2014), this paper estimates government budget balance-consistent growth rates for the euro area countries. A comparison of these estimates to their actual growth rates indicates that most of these countries are growing at rates that are very similar to...

In the last decade of XX century, has expanded the area of capital movements, which included the former socialist countries. Thus, the countries that are attracting some of the centers of the capital and at the same time, participate in the export of capital, it is impossible not to have engaged...