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How does corruption affect public debt? : an empirical analysis

Cooray, Arusha; Schneider, Friedrich - 2013 - Revised version

This paper examines the relationship between corruption and public debt in 106 countries. Results suggest that … corruption leads to an increase in public debt. We also investigate if the effect of corruption on pblic debt is increased by … government expenditure, the shadow economy and military expenditure. We find that the effect of corruption on public debt is …

Persistent link: https://www.econbiz.de/10010208991

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 chooses its own money of account, imposes a tax in that money of account, and issues currency in that money of account cannot face a financial constraint. It can make all payments...

Persistent link: https://www.econbiz.de/10012102465

On Federal Deficits and Debt, Monetary and Fiscal Policy

Lane, Edward - 2021

President Biden signed a $1.9 trillion COVID relief package (the “American Rescue Plan”) on March 11, 2021. Without a corresponding increase in taxes, this plan has set off alarm bells for those concerned about the expansion of government deficits and debt. Mainstream economists have raised...

Persistent link: https://www.econbiz.de/10013227477

A closer look at subnational government finances

Olsson, Hans; Catz, Julia - 2023

To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has traditionally been the government as a whole...

Persistent link: https://www.econbiz.de/10013540742

Spend-and-tax adjustments and the sustainability of the government's intertemporal budget constraint

Legrenzi, Gabriella Deborah; Milas, Costas - 2010

We apply non-linear error-correction models to the empirical testing of the sustainability of the government's intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its intertemporal budget constraint, in spite of the high levels of...

Persistent link: https://www.econbiz.de/10003936661

Ensuring debt sustainability amid strong economic uncertainty in Hungary

Beynet, Pierre; Kierzenkowski, Rafał - 2012

Despite a deep recession in 2009 and weak growth in subsequent years, Hungary’s fiscal position compares favourably with many other OECD countries. Nonetheless, the underlying fiscal balance started deteriorating in 2010 and 2011. Recognising this, Hungary’s government launched an ambitious...

Persistent link: https://www.econbiz.de/10009690137

Towards expenditure rules and fiscal sanity in the euro area

Hauptmeier, Sebastian; Fuentes, Jesus Sanchez; … - 2010

The study looks at primary expenditure developments in the euro area, its three largest members and four "macro-imbalances" countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...

Persistent link: https://www.econbiz.de/10008728760

Public preferences for government spending priorities : survey evidence from Germany

Hayo, Bernd; Neumeier, Florian - 2014 - This version: 4 November 2014

Employing data from a representative survey conducted in Germany, this paper examines public preferences for the size and composition of government expenditure. We focus on public attitudes toward taxes, public debt incurrence, and public spending in six different policy areas. Our findings...

Persistent link: https://www.econbiz.de/10010434575

Uniting European fiscal rules : how to strenghten the fiscal framework

Christofzik, Désirée I.; Feld, Lars P.; Reuter, Wolf … - 2018

The current European fiscal framework is highly complex. The multitude of fiscal rules and the discretion in their enforcement precludes an effective oversight and weakens the effectiveness of fiscal rules substantially. Against this background, we present a proposal for a careful refocusing of...

Persistent link: https://www.econbiz.de/10011898769

Political competitiveness and fiscal structure : a time series analysis : Canada, 1870 - 2015

Ferris, J. Stephen; Winer, Stanley L. - 2018

We investigate the extent to which the intensity of political competition moderates the governance issues that arise in relation to Canada’s fiscal structure. By fiscal structure we mean three distinct but interrelated fiscal dimensions of the state: financial stability, long run size and...

Persistent link: https://www.econbiz.de/10011899070