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Budgeting and Public Debt within a System of Cooperative Democracy
Eusepi, Giuseppe - 2016
This paper is the penultimate draft of the fourth of six chapters of a book titled Public Debt: An Illusion of Democratic Political Economy. This essay establishes an analytical benchmark of a democratic system in which political outcomes reflect genuine consensus among the participants. This...
Persistent link: https://www.econbiz.de/10012980202
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Macroeconomics, Fiscal Policy, and Public Debt : Conflating Myth and Reality
Eusepi, Giuseppe - 2016
This is the first of six chapters of the penultimate draft of a book titled Public Debt: An Illusion of Democratic Political Economy. The book's theme is an elaboration and refinement of the early 20th century orientation toward public debt that Antonio de Viti de Marco set forth. As the book's...
Persistent link: https://www.econbiz.de/10012980203
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Corruption under austerity
Daniele, Gianmarco; Giommoni, Tommaso - 2021
We study how policies limiting the spending capacity of local governments may reduce corruption. We exploit the … both recorded corruption rates and corruption charges per euro spent. This effect emerges only in areas in which the DSP … put a binding cap on municipal capital expenditures. The reduction in corruption is linked to accountability incentives as …
Persistent link: https://www.econbiz.de/10012437907
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The effect of fiscal rules on public investment if budget deficits are politically motivated
Dur, Robert A. J.; Peletier, Ben D.; Swank, Otto H. - 1997
Uncertainty about the future preferences of the government may induce policy makers to run excessive budget deficits. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a binding debt rule does not eliminate the distortions due to...
Persistent link: https://www.econbiz.de/10010371104
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Rotten Parents and Disciplined Children : A Politico-Economic Theory of Public Expenditure and Debt
Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - 2007
This paper proposes a dynamic politico-economic theory of debt, government finance and expenditure. Agents have preferences over a private and a government-provided public good, financed through labor taxation. Subsequent generations of voters choose taxation, government expenditure and debt...
Persistent link: https://www.econbiz.de/10014049381
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Voter responses to fiscal crisis : new evidence on preferences for fiscal adjustment in emerging markets
Ardanaz, Martin; Hübscher, Evelyne; Keefer, Philip; … - 2024
Though governments regularly implement fiscal adjustments to avert crisis, voter attitudes towards competing adjustment strategies are still poorly understood. A conjoint experiment with 8,000 survey respondents in Brazil, Colombia, Costa Rica, and Peru confirms that individuals prefer spending-...
Persistent link: https://www.econbiz.de/10014529801
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Economic growth and the public deficit in EU member states in Central and Eastern Europe
Bökemeier, Bettina - In: Romanian journal of fiscal policy : RJFP 6 (2015) 1, pp. 47-53
This paper studies the determinants of economic growth and the role of the public budget in European Union (EU) member states in Central and Eastern Europe, that joined the European Union in 2004, with a balanced data set from 1996 until 2012. A special focus is set on the relationship between...
Persistent link: https://www.econbiz.de/10011504503
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Fiscal policy after the crisis : what role for fiscal policy in times of crisis, low interest rates and high public debts?
Heise, Arne - 2022
In 2009, just before the full outbreak of the global financial crisis, Olivier Blanchard (2009) published an article giving a favourable appraisal of the state of macroeconomics. He came to this verdict on the basis that, after a long period of fierce theoretical debate, the discipline had...
Persistent link: https://www.econbiz.de/10012990275
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Debt sustainability analysis for euro area sovereigns : a methodological framework
Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017
The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...
Persistent link: https://www.econbiz.de/10011634439
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New fiscal regulations for Europe
Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW weekly report : economy, politics, science : a … 9 (2019) 16/18, pp. 148-149
Current fiscal regulations worsened the economic situation in the euro area during the financial and sovereign debt crisis. Regulations that allow more flexibility during downturns and have a countercyclical effect are needed. Five suggestions for a new fiscal package: new spending rules,...
Persistent link: https://www.econbiz.de/10012007500