Narrow search
Showing 1 - 10 of 70,194
Cover Image
Convergence of Fiscal Policies in the Euro Area
de Bandt, Olivier; Mongelli, Francesco Paolo - 2021
national fiscal policies. Over the 1970-1998 period we run contemporaneous cross-correlation, dispersion and cointegration … cross-correlation has increased steadily over the sample period and that fiscal dispersion has been declining at a sustained … pace among all countries in the sample. There is evidence of cointegration across the euro area for several countries on …
Persistent link: https://www.econbiz.de/10013320320
Cover Image
Catching-up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits
Égert, Balázs - 2010
focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the …
Persistent link: https://www.econbiz.de/10012444720
Cover Image
GMM Estimation of Fiscal Rules : Monte Carlo Experiments and Empirical Tests
Mammi, Irene - 2015
This paper focuses on the estimation of fiscal response functions for advanced economies and on the performance of …
Persistent link: https://www.econbiz.de/10013015889
Cover Image
Macroeconomic Stabilisation in the Emu : Rules Versus Institutions
Cavallari, Lilia; Di Gioacchino, Debora - 2004
This paper investigates the macroeconomic implications of different regimes of international fiscal coordination and monetary-fiscal cooperation in a monetary union with independent fiscal authorities that act strategically vis a vis a common central bank. In the presence of other policy goals...
Persistent link: https://www.econbiz.de/10014068253
Cover Image
When the Taylor principle is insufficient : a benchmark for the fiscal theory of the price level in a monetary union
Brede, Maren - 2014
This paper derives restrictions on monetary and fiscal policies for determinate equilibria in a two-country monetary union with autarkic members. It finds that a central bank following the Taylor principle may not be sufficient for determinacy unless accompanied by one 'active' fiscal authority...
Persistent link: https://www.econbiz.de/10010436521
Cover Image
Robust-Optimal Fiscal Policy
Carvalho, Vasco M. - 2007
This paper introduces a concern for model misspecification in a Lucas-Stokey optimal fiscal policy setting. The representative household in this economy is endowed with the knowledge of a reference model for the government spending process but acknowledges that this model is potentially...
Persistent link: https://www.econbiz.de/10012729803
Cover Image
Optimal Fiscal Adjustment Under Uncertainty
Rozenov, Rossen - 2016
The paper offers a non-probabilistic framework for representation of uncertainty in the context of a simple linear-quadratic model of fiscal adjustment. Instead of treating model disturbances as random variables with known probability distributions, it is only assumed that they belong to some...
Persistent link: https://www.econbiz.de/10012982445
Cover Image
Credibility and bias : the case for implementing both a debt anchor and a balanced budget rule
Castro-Valderrama, Marcela de; Moreno-Arias, Nicolás; … - 2023
Should a government have more than one fiscal rule constraining fiscal aggregates? If so, why? In this paper, we present a dynamic general equilibrium model of a small open economy featuring an incumbent government to assess how and why implementing a budget balance rule and a debt anchor rule...
Persistent link: https://www.econbiz.de/10014290466
Cover Image
Fiscal Rules, Fiscal Space and Procyclical Fiscal Policy
Nerlich, Carolin - 2019
In this paper we analyse the interaction of fiscal rules and fiscal space. We find strong evidence for fiscal rules being associated with higher fiscal space. Furthermore, the analysis shows that countries with more fiscal space tend to have higher discretionary expenditures, but that this...
Persistent link: https://www.econbiz.de/10012867815
Cover Image
Thoughts on Dynamic Scoring of Fiscal Policies
Marron, Donald B. - 2016
Former CBO director Doug Elmendorf recently argued that Congress should account for macroeconomic feedback when scoring major tax and spending policies. In this brief, Donald Marron agrees, arguing that CBO and JCT can implement such dynamic scoring in an objective, nonpartisan manner. Dynamic...
Persistent link: https://www.econbiz.de/10012988202