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Fiscal policy, sovereign default, and bailouts
Jüßen, Falko; Schabert, Andreas - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10010225902
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Fiscal policy reaction to the cycle in the OECD : pro- or counter-cyclical?
Égert, Balázs - 2012
This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...
Persistent link: https://www.econbiz.de/10009518240
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Fiscal Policy Reaction to the Cycle in the OECD : Pro- or Counter-Cyclical?
Égert, Balázs - 2012
This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...
Persistent link: https://www.econbiz.de/10013108041
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Fiscal Policy, Sovereign Default, and Bailouts
Juessen, Falko - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10013071428
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Reverse causality between oil policy and fiscal policy? : the Venezuelan experience
Manzano, Osmel; Saboin, José Luis - 2021
This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in … Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not … consider what the government does with the resources received from the oil sector. In this paper we explored the interaction of …
Persistent link: https://www.econbiz.de/10012583980
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Fiscal Policy, Increasing Returns, and Endogenous Fluctuations
Lansing, Kevin J.; Guo, Jang-Ting - 2001
This paper examines the quantitative implications of government fiscal policy in a discrete-time one-sector growth model with a productive externality that generates social increasing returns to scale. Starting from a laissez-faire economy that exhibits local indeterminacy, we show that the...
Persistent link: https://www.econbiz.de/10014192365
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Fiscal Policy, Increasing Returns, and Endogenous Fluctuations
Guo, Jang-Ting; Lansing, Kevin J. - 2002
This paper examines the quantitative implications of government fiscal policy in a discrete-time one-sector growth model with a productive externality that generates social increasing returns to scale. Starting from a laissez-faire economy that exhibits local indeterminacy, we show that the...
Persistent link: https://www.econbiz.de/10014123313
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Fiscal Policy, Increasing Returns and Endogenous Fluctuations
Guo, Jang-Ting; Lansing, Kevin J. - 2007
This paper explores the effects of government fiscal policy in an infinite horizon, one-sector growth model with a productive externality and aggregate increasing returns. We show that, depending on the level of a constant tax or subsidy, the model can exhibit various types of endogenous...
Persistent link: https://www.econbiz.de/10014098104
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The long-run macroeconomic impacts of fuel subsidies
Plante, Michael - 2013
Persistent link: https://www.econbiz.de/10009759459
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Global energy subsidies : an analytical taxonomy
McKitrick, Ross - 2016
Persistent link: https://www.econbiz.de/10011512792