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Fiscal rules and fiscal performance in the EU and Japan
Hagen, Jürgen von - 2006
rule of the Maastricht Treaty had a significant impact on political budget cycles in the EU, but did little to constrain … budget process enabling governments to commit to the rule. We find that strong fiscal rules have been effective. We conclude …
Persistent link: https://www.econbiz.de/10010374865
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Does the Swiss debt brake induce sound federal finances? : a synthetic control analysis
Pfeil, Christian F.; Feld, Lars P. - 2016
improved the budget balance by about 3.6 percentage points on average in a post-intervention period covering five years. …
Persistent link: https://www.econbiz.de/10011521945
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Fiscal Discipline and Exchange Rates : Does Politics Matter?
Tavares, José - 2016
We look at the effect of exchange rate regimes on fiscal discipline, taking into account the effect of underlying political conditions. We present a model where strong politics (defined as policymakers facing longer political horizon and higher cohesion) are associated with better fiscal...
Persistent link: https://www.econbiz.de/10012977352
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The fiscal response to revenue shocks
Berset, Simon; Huber, Martin; Schelker, Mark - 2021
We study the impact of fiscal revenue shocks on local fiscal policy. We focus on the very volatile revenues from the immovable property gains tax in the canton of Zurich, Switzerland, and analyze fiscal behavior following large and rare positive and negative revenue shocks. We apply causal...
Persistent link: https://www.econbiz.de/10012420862
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Budget institutions and government effectiveness
Dahan, Momi; Strawczynski, Michel - 2016
Do budget institutions play a role in explaining why government effectiveness is higher in some advanced countries than … budget centralization has a negative and significant effect on government effectiveness in OECD countries after accounting … similar effectiveness in tax collections. The negative impact of budget centralization seems to bite especially at the …
Persistent link: https://www.econbiz.de/10011568824
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Fiscal reform to benefit state and local governments : the modern money theory approach
Wray, L. Randall - 2019
budget constraint was applied to government finance. Matters were made worse by the development of "generational accounting …
Persistent link: https://www.econbiz.de/10012102465
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Does the Swiss debt brake induce sound federal finances? : a synthetic control analysis
Pfeil, Christian F.; Feld, Lars P. - 2018
improved the budget balance by about 3.6 percentage points on average in a post-intervention period covering five years. …
Persistent link: https://www.econbiz.de/10011878540
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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
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Budget Institutions and Fiscal Responsibility : Parliaments and the Political Economy of the Budget Process
Santiso, Carlos - 2006
Can parliaments make an effective contribution to the budget process while preserving fiscal discipline? Reforming … budget institutions represents a critical task for emerging economies seeking to strengthen transparency and curb corruption … economic performance and fiscal responsibility. Parliaments' role in the governance of the budget is nevertheless subdued and …
Persistent link: https://www.econbiz.de/10014067217
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Government size and risk premium
Kumar, Abhishek; Mallick, Sushanta Kumar - 2024
Given the rise in the government debt level in recent times, this paper aims to examine the effect of an increase in government size on risk premium and its transmission in the economy. We jointly identify the term spread shock (originating at the short end and the long end) and the government...
Persistent link: https://www.econbiz.de/10014525770