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The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a macroeconomic policy instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of the fiscal multiplier and the fact that monetary policy...

Persistent link: https://www.econbiz.de/10011477456

Gross fixed capital formation in the euro area during the COVID-19 pandemic

Licchetta, Mirko; Meyermans, Eric - In: Intereconomics : review of European economic policy 57 (2022) 4, pp. 238-246

This paper examines the impact of the COVID-19 pandemic on gross fixed capital formation across the euro area. The …

Persistent link: https://www.econbiz.de/10013347704

A stronger CEE for a stronger Europe

Wieser, Thomas; Grieveson, Richard; Holzner, Mario - 2024

Authority to enable freer movement of capital; high-quality implementation of anti-money-laundering processes and institutions … support of a regional capital market; promotion of deeper national capital markets by boosting the second and third pillars of … pension systems, while retaining their pay-as-you-go systems; regional cooperation among venture capital funds, supported by …

Persistent link: https://www.econbiz.de/10014555560

Fiscal rules and public investment

Perée, Eric; Välilä, Timo - 2005

This paper examines the link between fiscal rules and public investment both normatively and empirically. We first review the arguments for and against including public investment spending in a fiscal deficit rule. We then seek to assess the determinants of public investment, with a special...

Persistent link: https://www.econbiz.de/10008939538

U.S. And Euro Area Monetary and Fiscal Interactions During the Pandemic : A Structural Analysis

Hodge, Andrew; Jakab, Zoltan; Lindé, Jesper; Nguyen, … - 2022

This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of “below, but close to 2 percent” to a formal...

Persistent link: https://www.econbiz.de/10014237881

Making public finances more growth and equity-friendly in the euro area

Pina, Álvaro Manuel - 2016

performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment …

Persistent link: https://www.econbiz.de/10011577852

Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery

Truger, Achim - 2015

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of tightening the fiscal constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in this study would be one important element of the...

Persistent link: https://www.econbiz.de/10011336549

The Effectiveness of a Fiscal Transfer Mechanism in a Monetary Union : A DSGE Model for the Euro Area

Verstegen, Loes - 2016

In this paper, we incorporate a transfer mechanism into a DSGE model with a rich fiscal sector to assess the effectiveness of fiscal transfers for a monetary union, in particular for the Economic and Monetary Union. Using a heterogeneous setup, the model is estimated for the North and the South...

Persistent link: https://www.econbiz.de/10012988404

Fiscal federalism in a monetary union : the cooperation pitfall

Kempf, Hubert - 2017

Fiscal federalism may not be a panacea in a monetary union if it does not address the non-cooperative behaviour between fiscal policymakers. To prove this, we assess the relative merits of a fiscal federalism scheme in a monetary union and intergovernmental fiscal cooperation without such a...

Persistent link: https://www.econbiz.de/10011749988

Stability and growth pact : too young to die, too old to rock 'n' roll

Patsoulis, Patroklos; Psychalis, Marios; … - In: Journal of risk and financial management : JRFM 15 (2022) 12, pp. 1-12

This paper discusses the future of the Stability and Growth Pact (hereafter SGP). Although Neoclassical economic models argue that strict fiscal and monetary rules minimize moral hazard and crowding out, in practice many governments adopt fiscal expansion (in recent years in the form of...

Persistent link: https://www.econbiz.de/10014284161