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This volume was prepared by Markus Reischmann while he was working at the Ifo Institute. It was completed in June 2015 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in November 2015. It includes five self-contained chapters in the fields of public...
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the budget balance. The results show that stock-flow adjustments increased before elections. In Germany, stock … outside the core budget. Chapter 6 describes special funds in Germany and elaborates upon the purposes for which special funds …. Die Ergebnisse zeigen, dass die Stock-Flow-Adjustments vor Wahlen angestiegen sind. In Deutschland wurden große Stock …
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We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...
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Fiscal rules have become popular to limit deficits and high debt burdens in industrialized countries. A growing literature examines their impact based on aggregate fiscal performance. So far, no evidence exists on how fiscal rules influence deficit expectations of fiscal policy makers. In the...
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