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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
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Impacts of fiscal policy on economic growth : another look from institutional perspective
Ho Thuy Ai; Lin, Ping - 2018
What is the role of economic institutions in the effectiveness of fiscal policy? This paper argues that the extent to which fiscal policy affects long-term growth depends on how economically free a country enjoys. The authors use a sample of 72 countries over the period 1990 through 2015 to...
Persistent link: https://www.econbiz.de/10011852915
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Spend-and-tax adjustments and the sustainability of the government's intertemporal budget constraint
Legrenzi, Gabriella Deborah; Milas, Costas - 2010
's intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its …
Persistent link: https://www.econbiz.de/10003936661
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Fuentes, Jesus Sanchez; … - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four "macro-imbalances" countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10008728760
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Debt sustainability and financial crises : evidence from the GIIPS
Legrenzi, Gabriella Deborah; Milas, Costas - 2011
We assess the sustainability of the public finances of Greece, Ireland, Italy, Portugal and Spain (GIIPS), allowing for …
Persistent link: https://www.econbiz.de/10009307965
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Fiscal consolidation policies in the context of Italy's two recessions
Figari, Francesco; Fiorio, Carlo V. - 2015
The Italian Great Recession has a double-dip pattern. After the start of the global financial crisis, Italy experienced …
Persistent link: https://www.econbiz.de/10011284961
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Towards Expenditure Rules and Fiscal Sanity in the Euro Area
Hauptmeier, Sebastian - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10013136395
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Combining Time-Variation and Mixed-Frequencies : An Analysis of Government Spending Multipliers in Italy
Cimadomo, Jacopo - 2015
, we use this model to study the macroeconomic effects of government spending shocks in Italy over the 1988Q4-2013Q3 period …. Italy - as well as most other euro area economies - is characterised by short quarterly time series for fiscal variables … output in Italy. The fiscal multiplier, which is maximized at the one year horizon, follows a U-shape over the sample …
Persistent link: https://www.econbiz.de/10013013646
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A Disaggregated Framework for the Analysis of Structural Developments in Public Finances
Kremer, Jana - 2016
Persistent link: https://www.econbiz.de/10012991198
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Combining Time-Variation and Mixed-Frequencies : An Analysis of Government Spending Multipliers in Italy
D'Agostino, Antonello - 2018
time-varying model. Second, we use this model to study the macroeconomic effects of government spending shocks in Italy … over the 1988Q4-2013Q3 period. Italy - as well as most other euro area economies - is characterised by short quarterly time … tend to have positive effects on output in Italy. The fiscal multiplier, which is maximized at the one year horizon …
Persistent link: https://www.econbiz.de/10012924294