This paper analyzes the factors that determine the likelihood to initiate a fiscal adjustment, as well as the determinants of successful fiscal adjustments in a set of OECD countries. Its focus is different relative to previous studies, because it investigates the role played by labor and...

Since 2008, the world economy has been facing the consequences of the global financial crisis. One consequence has been the rapid growth of public debt in many advanced economies, resulting from overly optimistic estimates of the fiscal situation before the crisis, declining government revenues...

This paper gauges the scope for market discipline and the effectiveness of the regional surveillance framework in the West African Economic and Monetary Union (WAEMU). The paper finds that the responsiveness of sovereign bond rates to governments' fiscal behavior in the regional financial market...

Das Buch verfolgt eine doppelte Stoßrichtung: Einerseits erklärt es die Unterschiede in der Höhe der Defizite der deutschen Bundesländer, andererseits werden auf Basis der empirisch festgestellten Kausalfaktoren Reformoptionen für eine effektivere Begrenzung der Defizite identifiziert....

This paper studies the timing of privatization in 21 major developed economies in the 1977-2002 period. Duration analysis shows that political fragmentation plays a significant role in explaining government's decision to privatize: privatization is delayed longer in democracies characterized by...

What is the role of economic institutions in the effectiveness of fiscal policy? This paper argues that the extent to which fiscal policy affects long-term growth depends on how economically free a country enjoys. The authors use a sample of 72 countries over the period 1990 through 2015 to...

We examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970-90 to derive robust conclusions about which variables are important in explaining cross-country differences in public sector deficits....

We examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970-90 to derive robust conclusions about which variables are important in explaining cross-country differences in public sector deficits....

This article aims to assess the impact of federal budget institutions on the primary deficit of the Brazilian Federal Government from 1985 to 2009, a period marked by important changes in these institutions. Based on the methodology established in the literature on political economy that is...