Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure,...

Die Transformationsländer Mittel- und Osteuropas (MOE) stecken in der Zwickmühle. Einerseits zwingt der Wettkampf um international knappes Kapital möglicherweise zu Steuersenkungen, die zu Einnahmeausfällen führen. Andererseits werden gerade in Zeiten der Transformation staatliche Einnahmen...

The paper discusses the impact of austerity policy on economic performance in the eurozone countries after the global crisis that occurred in 2007-08. The undertaken fiscal consolidation efforts to cut government expenditure and increase government taxes which begun in 2010, aimed to return...

Die Transformationsländer Mittel- und Osteuropas (MOE) stecken in der Zwickmühle. Einerseits zwingt der Wettkampf um international knappes Kapital möglicherweise zu Steuersenkungen, die zu Einnahmeausfällen führen. Andererseits werden gerade in Zeiten der Transformation staatliche Einnahmen...

Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure,...

Fiscal rules have been the centre of economic debate in European Union Member States. They indicate the direction in which policymakers aim to evolve public finances. In recent years the public finances of European Union Member States have been affected by two major changes in economic and...

The extent of government deficits and debt has been one of the most debated issues in recent years. However, much less has been contributed about their dynamics. Yet, the issue of entering into and exiting from excessive deficits is critical in the Economic and Monetary Union since the Stability...

This paper assesses the dynamic impact of global macroeconomic conditions, commodity price movements, shifts in portfolio preferences, and domestic shocks on fiscal outcomes-notably the budget deficit, its main components, and debt-across a wide range of countries. Heterogeneity is investigated...

Die Finanzpolitik im Freistaat Sachsen steht trotz konjunktureller Belebung noch immer vor großen Herausforderungen: Im Zuge der Finanz- und Wirtschaftskrise belasten massive Steuerausfälle nach wie vor den Landeshaushalt. Der vorliegende Artikel diskutiert den Einfluss des gegenwärtigen...