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Improving public sector efficiency for more inclusive growth in Latvia
Klein, Caroline; Price, Robert W. - 2015
This working paper explores avenues to improve public sector efficiency in Latvia, a catching-up and ageing economy where spending needs are large. Ensuring that spending allocated to core services (e.g. education, healthcare) is adequate to achieve convergence of policy outcomes to OECD upper...
Persistent link: https://www.econbiz.de/10011399630
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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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The Interaction between Monetary and Fiscal Policy : Insights from Two Business Cycles in Israel
Braude, Kobi - 2013
Comparing the two significant recessions Israel experienced over the last decade, we highlight the importance of sustained fiscal discipline and credible monetary policy during normal times for expanding the set of policy options available at a time of need. In the first recession Israel was...
Persistent link: https://www.econbiz.de/10013088125
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Proposals for the reform of EU fiscal rules
Ventouris, Nikos; Palaiodimos, Georgios - 2022
The aim of this paper is to contribute to the ongoing debate regarding the reform of the EU fiscal framework, with a special focus on fiscal sustainability for Greece. Our key policy proposals for the EU fiscal rules draw on lessons from past experience, the conclusions of relevant studies and...
Persistent link: https://www.econbiz.de/10014077756
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Institutionalized Bailouts and Fiscal Policy : The Consequences of Soft Budget Constraints
Fink, Alexander - 2010
States have soft budget constraints when they can expect a bailout by the federal government in the event of a …
Persistent link: https://www.econbiz.de/10013150672
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Fiscal reform to benefit state and local governments : the modern money theory approach
Wray, L. Randall - 2019
This paper will present the Modern Money Theory approach to government finance. In short, a national government that … budget constraint was applied to government finance. Matters were made worse by the development of "generational accounting …" that calculated hundreds of trillions of dollars of government red ink through eternity due to "entitlements." As austerity …
Persistent link: https://www.econbiz.de/10012102465
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Fiscal Activism in the Euro Area and in Other Advanced Economies : New Evidence
Attinasi, Maria Grazia - 2020
We review the determinants of the discretionary fiscal policy action of governments in the euro area and in other advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel techniques and country-by-country estimates. The results suggest...
Persistent link: https://www.econbiz.de/10012844616
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Fiscal activism in the euro area and in other advanced economies : new evidence
Attinasi, Maria Grazia; Palazzo, Alessandra Anna; … - 2019
We review the determinants of the discretionary fiscal policy action of governments in the euro area and in other advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel techniques and country-by-country estimates. The results suggest...
Persistent link: https://www.econbiz.de/10012135940
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Beyond the centre : tracing decentralization’s influence on time-varying fiscal sustainability
Afonso, António; Alves, José; Jalles, João Tovar; … - 2024
This paper explores the nuanced relationship between fiscal decentralization and fiscal sustainability. Employing panel data analyses, it scrutinizes how decentralization influences fiscal discipline across different governmental levels. Results for 185 countries show that while tax...
Persistent link: https://www.econbiz.de/10014543839
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Public investment and fiscal crisis in Brazil: Finding culprits and solutions
Bonomo, Marco Antonio; Frischtak, Cláudio R.; Ribeiro, … - 2021
We investigate the relation between existing fiscal rules and investments in the context of a fiscal crisis in Brazil. We analyze existing fiscal rules at national and subnational levels, their enforcement, and proposed alternatives. Using narrative analysis, case studies, interviews, empirical...
Persistent link: https://www.econbiz.de/10012604856