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Fiscal Institutions and Public Spending Volatility in Europe
Albuquerque, Bruno - 2021
fiscal institutions on public spending volatility for a panel of 23 EU countries over the 1980–2007 period. The dependent … variable is the volatility of discretionary fiscal policy, which does not represent reactions to changes in economic conditions …. Our baseline results thus give support to the strengthening of institutions to deal with excessive levels of discretion …
Persistent link: https://www.econbiz.de/10013231899
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The Misalignment of Fiscal Multipliers in Italian Regions
Lucidi, Francesco Simone - 2021
By accounting for the structural heterogeneity between northern and southern economies, this paper estimates fiscal multipliers resulting from shocks to current public expenditure, total public revenues and public investment in Italian regions. The estimation is carried out by estimating a panel...
Persistent link: https://www.econbiz.de/10013312350
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From budgetary instrument to the budgetary objective : the Portuguese case
Lopes, Luis; Antunes, Margarida - 2016
In the contemporary capitalism model and in relation to the functioning of the economy there is a counterproductive view of the state as an institution. This has led to a reversal of the hierarchy between the state and the private sector, since it subordinates states to markets. Fiscal policy...
Persistent link: https://www.econbiz.de/10011567981
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Fiscal consolidation by austerity and EU surveillance policies
Iancu, Aurel; Olteanu, Dan - 2015
After a brief introduction dealing with critical opinions of some economists on the European austerity policy, the authors point out that austerity as a means of achieving fiscal consolidation and financial stability is applied when the fiscal domain is weak. After analyzing the effects of the...
Persistent link: https://www.econbiz.de/10011576575
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Revenue- versus spending-based consolidation plans : the role of follow-up
Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377
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The deterioration of the public spending mix during the global financial crisis : insights from new indicators
Bloch, Debra; Fournier, Jean-Marc - 2018
New indicators measuring the effects of public spending on inclusive growth have been constructed using recent empirical work by Fournier and Johansson (2016) and a recent public finance dataset (Bloch et al., 2016). A first set of indicators combines information on the mix of public spending....
Persistent link: https://www.econbiz.de/10011914165
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Long-run effects of austerity
Martins, Guilherme Klein - 2022
This paper provides evidence that austerity shocks have long-run negative effects on GDP. Besides addressing the important gap in the growing fiscal research regarding the short time horizon of the estimations, this paper analyzes two other important assumptions made in the literature regarding...
Persistent link: https://www.econbiz.de/10014229776
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Search complementarities, aggregate fluctuations, and fiscal policy
Fernández-Villaverde, Jesús; Yu, Yang; Zanetti, Francesco - 2019
volatility of shocks is important for the selection and duration of each equilibrium. Sufficiently adverse shocks in periods of … low macroeconomic volatility trigger severe and protracted downturns. The magnitude of government intervention is critical …
Persistent link: https://www.econbiz.de/10012003850
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Optimal government spending and unemployment
Linnemann, Ludger; Schabert, Andreas - 2008 - This version: February 29, 2008
volatility; iv) is qualitatively unaltered in a sticky price version with jointly optimal monetary and fiscal policy. …
Persistent link: https://www.econbiz.de/10011374417
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Government spending shocks, sovereign risk and the exchange rate regime
Bonam, Dennis; Lukkezen, Jasper - 2013
Conventional wisdom teaches that the output response upon a fiscal expansion is higher under fixed than floating exchange rates for a small open economy. We analyse the effects of fiscal expansions using a New Keynesian model and find that this result reverses in times of sovereign default risk....
Persistent link: https://www.econbiz.de/10010227296