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Fiscal Sustainability in Emerging Market Countries with an Application to Ecuador
Alvarado, Carlos Díaz; Izquierdo, Alejandro; Panizza, Ugo - 2004
discussion, the paper uses Ecuador to illustrate an application of the probabilistic model, and of the framework to evaluate the …
Persistent link: https://www.econbiz.de/10010327194
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Empirical Studies on Public Debt and Fiscal Transfers
Reischmann, Markus Josef - 2016
This volume includes five self-contained chapters in the fields of public debt and fiscal transfer schemes. After an … budget deficits and the change in public debt). Governments can engage in creative accounting to hide borrowing and sugarcoat … were established. It discusses the extent to which the new German debt brake limits the borrowing of special funds and …
Persistent link: https://www.econbiz.de/10011698353
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Fiscal rules and public investment : the case of Peru, 2000-2019
Mendoza Bellido, Waldo; Vega, Marco; Rojas, Carlos; … - 2021
fiscal rules on public investment and public debt sustainability. Our main results are as follows. First, the implementation … the current public debt limit (30 percent of GDP), although there is a trade-off between investment-friendly rules and …
Persistent link: https://www.econbiz.de/10012587002
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Constraints or opportunities? : labor informality and public investment in shaping debt limits
Méndez-Vizcaíno, Juan Camilo; Moreno-Arias, Nicolás - 2023
their intricate interplay and nonlinear impact on State-Dependent Debt Limits. The framework highlights the significance of … importance of assessing fiscal pol-icy consolidations aimed at ensuring debt sustainability and responses to global shocks using …
Persistent link: https://www.econbiz.de/10014546231
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Multipliers of taxes and public spending in Colombia : SVAR and local projections approaches
Restrepo-Ángel, Sergio; Rincón Castro, Hernán; … - In: Latin American journal of central banking : LAJCB 3 (2022) 3, pp. 1-22
This paper estimates and analyzes multipliers for tax revenue and public spending for Colombia using structural autoregressive vectors and local projections models. Quarterly series of the central national government between 2000Q1 and 2018Q4 are used. The results show fiscal multipliers that...
Persistent link: https://www.econbiz.de/10013393435
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Taking a DSGE Model to the Data Meaningfully
Franchi, Massimo; Jusélius, Katarina - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-4, pp. 1-38
All economists say that they want to take their models to the data. But with incomplete and highly imperfect data, doing so is difficult and requires carefully matching the assumptions of the model with the statistical properties of the data. The cointegrated VAR (CVAR) offers a way of doing so....
Persistent link: https://www.econbiz.de/10010295287
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Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model
Møller, Niels Framroze - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-36, pp. 1-29
Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the...
Persistent link: https://www.econbiz.de/10010298620
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The empirical modelling of house prices and debt revisited : a policy-oriented perspective
Boug, Pål; Hungnes, Håvard; Kurita, Takamitsu - 2021
debt with a policy-oriented perspective using Norwegian data over the last four decades within the cointegrated VAR model …. Applying a control analysis, we find that both house prices and debt are controllable magnitudes to some pre-specified target …
Persistent link: https://www.econbiz.de/10012800701
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Searching for a theory that fits the data : a personal research odyssey
Jusélius, Katarina - In: Econometrics : open access journal 9 (2021) 1/5, pp. 1-27
This survey paper discusses the Cointegrated Vector AutoRegressive (CVAR) methodology and how it has evolved over the past 30 years. It describes major steps in the econometric development, discusses problems to be solved when confronting theory with the data, and, as a solution, proposes a...
Persistent link: https://www.econbiz.de/10012428078
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The unintended consequences of the debt: Will increased government expenditure hurt the economy?
Werner, Richard A. - 2011
In 2008, governments in many countries embarked on large fiscal expenditure programmes, with the intention to support the economy and prevent a more serious recession. In this study, the overall impact of a substantial increase in fiscal expenditure is considered by providing a novel analysis of...
Persistent link: https://www.econbiz.de/10010308564