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Sustainability of German fiscal policy and public debt : historical and time series evidence for the period 1850-2010
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2013
analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the … debt crisis has prompted a fundamental re-evaluation of public debt sustainability and the looming threat of sovereign debt …'s peacetime debt-to-GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of …
Persistent link: https://www.econbiz.de/10009709423
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Sustainability of German Fiscal Policy and Public Debt : Historical and Time Series Evidence for the Period 1850-2010
Burret, Heiko - 2013
debt crisis has prompted a fundamental re‐evaluation of public debt sustainability and the looming threat of sovereign debt …'s peacetime debt‐to‐GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of … anecdotal his‐torical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and …
Persistent link: https://www.econbiz.de/10013085753
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Evolution of Government Debt and Its Sustainability in Japan and Germany : Two Contrasting Cases
Srivastava, D. K.; Bharadwaj, Muralikrishna; Kapur, Tarrung - 2021
growth of its debt-GDP ratio close to its sustainability level over a long period, Japan has slipped away towards non-sustainability …. This is due to the behaviour of primary balance to GDP ratio. The estimated debt sustainability thresholds are 62.0% for … Germany and 176.0% of GDP for Japan. In the post Covid years, Germany would converge back to its debt sustainability level …
Persistent link: https://www.econbiz.de/10013219531
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Fiscal sustainability of the German Laender : time series evidence
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014
In this paper we analyze the sustainability of public finances in the states (Laender) of the Federal Republic of … and 1991 to 2011 for East German Laender, respectively. In order to assess the fiscal sustainability of the (Laender) we …-run relation between expenditures and revenues in a cointegration analysis within each Land. The results provide evidence against …
Persistent link: https://www.econbiz.de/10010388609
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(Un-)Sustinability of public finances in German Laender : a panel time series approach
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2015
This paper provides evidence that most German states (Laender) have unsustainable public finances by exploiting a newly compiled database covering the years 1950‐2011. Although the Laender are closely intertwined we are the first to apply “second generation” panel techniques that control...
Persistent link: https://www.econbiz.de/10011404634
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Fiscal sustainability of the German Laender : time series evidence
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2015
We analyze the sustainability of public finances in the 16 states (Laender) of the Federal Republic of Germany using an … explore their long‐run relation in cointegration analyses for each Land we extend the existing literature. The results provide … evidence against strict fiscal sustainability in a majority of German Laender. A notable exception to this finding is Bavaria. …
Persistent link: https://www.econbiz.de/10011404648
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Panel cointegration tests on the fiscal sustainability of German Laender
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014
This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a … newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability … by applying "gsecond generation" panel cointegration techniques. A unique identification strategy for the selection of …
Persistent link: https://www.econbiz.de/10010388585
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Austerity in the Euro area: The sad state of economic policy in Germany and the EU
Truger, Achim - 2013
The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...
Persistent link: https://www.econbiz.de/10010333079
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Austerity in the euro area: the sad state of economic policy in Germany and the EU
Truger, Achim - In: European Journal of Economics and Economic Policies: … 10 (2013) 2, pp. 158-174
The euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...
Persistent link: https://www.econbiz.de/10014363172
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The Debt Brake in the Eyes of the German Population
Hayo, Bernd; Neumeier, Florian - 2014
In response to the recent sovereign debt crisis, the member states of the European Union agreed to enact balanced budget rules in their national legislation. However, little is known about the public's opinion of balanced budget rules. To fill this gap, we conducted a survey among 2,000...
Persistent link: https://www.econbiz.de/10010435717