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Did fiscal consolidation cause the double dip recession in the euro area?
Heimberger, Philipp - 2015
the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity … closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to …, a reasonable approximation of the size of the output losses due to fiscal austerity in the euro area during 2011-2013 is …
Persistent link: https://www.econbiz.de/10011778844
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Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery
Truger, Achim - 2015
constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in …
Persistent link: https://www.econbiz.de/10011336549
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Debt sustainability and economic convergence of euro-area Member States : challenges and solutions
Manasse, Paolo - 2015
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
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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
consolidation and explains why austerity is so fiercely advocated by both core and periphery governments. The main reasons for the … governments, in cooperation with the European Commission, the ECB and the IMF, based on further austerity and wage cuts aggravate …
Persistent link: https://www.econbiz.de/10011515832
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Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment
Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018
Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...
Persistent link: https://www.econbiz.de/10011856496
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Fiscal fragility : what the past says about the future
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...
Persistent link: https://www.econbiz.de/10008689002
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Fiscal fragility: what the past may say about the future/ Joshua Aizenman and Gurnain Kaur Pasricha
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...
Persistent link: https://www.econbiz.de/10008698949
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Tax Policy, Investment Decisions and Economic Growth
Bonucchi, Manuel - 2016
This paper evaluates the impact of the taxation system on factor costs, investment and economic activity. This is performed on the basis of detailed analysis of the Italian tax system and the production of own estimates of the user cost of capital to labour, which capture the contribution of tax...
Persistent link: https://www.econbiz.de/10013006211
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The Six Key Countries Driving Global Islamic Finance Growth
Lackmann, Bedi - 2018
Six countries; Qatar, Indonesia, Saudi Arabia, Malaysia, the United Arab Emirates and Turkey (denoted by the acronym QISMUT) are considered the potential primary force of the future international development of Islamic finance. These countries, with both expertise and potential for growth in...
Persistent link: https://www.econbiz.de/10012937541
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The Socioeconomic Impact of Economic Freedom
Rožāns, Edgars - 2015
Regarding economic freedom, research shows that although it has its negative effects, especially in a shorter term, e.g., the phase of increasing inequality, overall trends are indicative that countries with higher levels of economic freedom have not only higher gross domestic product per capita...
Persistent link: https://www.econbiz.de/10014132139