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Is a very high public debt a problem?
Leão, Pedro - 2015
debt from resulting in a high tax burden, a government default, or inflation. The second objective is to show that …
Persistent link: https://www.econbiz.de/10011309513
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Fiscal Histories
Cochrane, John H. - 2022
The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …
Persistent link: https://www.econbiz.de/10014079501
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Fiscal Histories
Cochrane, John H. - National Bureau of Economic Research - 2022
The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …
Persistent link: https://www.econbiz.de/10013361983
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Which is the optimal fiscal rule in a monetary union? : targeting the structural, the global budgetary deficit, or the public debt?
Menguy, Séverine - In: Cogent economics & finance 2 (2014) 1, pp. 2-20
The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
Persistent link: https://www.econbiz.de/10010482338
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Fiscal convergence in the West African Monetary Zone
Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Kargbo, … - 2021
Monetary Zone (WAMZ) countries and explores the response of fiscal convergence to divergence of public debt levels, inflation … strong evidence that reducing divergence in public debt levels, inflation rates and current account balances would reduce …
Persistent link: https://www.econbiz.de/10013342773
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A set of estimated fiscal rules for a cross section of countries : stabilization and consolidation through which instruments?
Reicher, Christopher Phillip - 2013
This paper provides a set of detailed estimated fiscal reaction functions for a panel of twenty industrialized countries, and it discusses commonalities and differences with regard to systematic fiscal policies across countries. In general, the countries in the panel adjust tax revenues strongly...
Persistent link: https://www.econbiz.de/10009782452
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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
, fiscal consolidation, privatization, and wealth taxation) and heterodox options (inflation, financial repression, debt …
Persistent link: https://www.econbiz.de/10012655299
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Fiscal and monetary policy rules in an unstable economy
Ryoo, Soon; Skott, Peter - 2015
This paper examines the implications of different monetary and fiscal policy rules in an economy characterized by Harrodian instability. We show that (i) a monetary rule along Taylor lines can be stabilizing for low debt ratios but becomes de-stabilizing if the debt ratio exceeds a certain...
Persistent link: https://www.econbiz.de/10011522169
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Optimal fiscal policy rule for achieving fiscal sustainability : a Japanese case study
Yoshino, Naoyuki; Mizoguchi, Tetsuro; … - 2015
Japan's debt-to-gross domestic product (GDP) ratio is the highest among Organisation for Economic Co-operation and Development (OECD) countries. This paper will firstly answer the question of whether Japanese government debt is sustainable. Next, while the Domar condition and Bohn's condition...
Persistent link: https://www.econbiz.de/10011283728
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Optimal Fiscal Policy Rule for Achieving Fiscal Sustainability : A Japanese Case Study
Yoshino, Naoyuki - 2015
Japan's debt-to-gross domestic product (GDP) ratio is the highest among Organisation for Economic Co-operation and Development (OECD) countries. This paper will firstly answer the question of whether Japanese government debt is sustainable. Next, while the Domar condition and Bohn's condition...
Persistent link: https://www.econbiz.de/10013019588