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Fiscal rules and the effectiveness of monetary policy : estimates for a large emerging economy
Anjos, Daniel Pereira dos; Moreira, Ricardo Ramalhete - In: Revista brasileira de economia : RBE ; publicação de … 77 (2023), pp. 444-466
Persistent link: https://www.econbiz.de/10014279758
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Why don't we follow the rules? : drivers of compliance with fiscal policy rules in emerging markets
Ardanaz, Martin; Ulloa-Súarez, Carolina; Valencia, Oscar M. - 2023
increasingly common in recent decades. Based on an original dataset of compliance behavior across 14 countries observed between … acceleration episodes than countries that do not comply with their rules. We then show that compliance is affected by the broader … macroeconomic and politico-institutional environment. First, we find an asymmetrical response of compliance to macroeconomic …
Persistent link: https://www.econbiz.de/10014546272
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The hidden compliance zone of fiscal rules
Parro, Francisco - In: Applied economics letters 30 (2023) 12, pp. 1661-1670
Persistent link: https://www.econbiz.de/10014304908
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How fiscal rules can reduce sovereign debt default risk
Gómez González, José Eduardo; Valencia, Oscar M.; … - In: Emerging markets review 50 (2022), pp. 1-12
Persistent link: https://www.econbiz.de/10013416953
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Fiscal rules and optimal currency composition of sovereign debt in emerging economies
Valencia, Oscar M.; Rodriguez, Luis Alberto; Siachoque, … - 2023
debt and facilitates fiscal rule compliance but increases budget risk. Using a small open economy model, we provide …
Persistent link: https://www.econbiz.de/10014471269
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Which is the optimal fiscal rule in a monetary union? : targeting the structural, the global budgetary deficit, or the public debt?
Menguy, Séverine - In: Cogent economics & finance 2 (2014) 1, pp. 2-20
The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
Persistent link: https://www.econbiz.de/10010482338
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Investment and the golden rule in the European Union
Marinescu, Ada Cristina - In: Financial studies 22 (2018) 1, pp. 53-63
We will study in this paper the relation between public investment, public debt and fiscal rules in the European Union countries. The strict fiscal rules imposed by EU have negatively affected the investments. The decline in public investment in European Union is related to the fiscal rules...
Persistent link: https://www.econbiz.de/10011964940
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Fiscal rules and economic cycles : quality (always) matters
Andrián, Leandro; Hirs-Garzón, Jorge; Urrea, Iván; … - 2023
Governments can issue public debt for both good and bad reasons. The former include intertemporal tax smoothing, fiscal stimulus, and asset management. In contrast, the bad reasons, which generate higher indebtedness, are mainly associated with political cycles, rent capture, intergenerational...
Persistent link: https://www.econbiz.de/10014480731
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The macroeconomic effects of monetary policy shocks under fiscal rules constrained by public debt sustainability
Cavalcanti, Marco Antônio Freitas de Hollanda; Vereda, … - In: Economic modelling 71 (2018), pp. 184-201
Persistent link: https://www.econbiz.de/10012062471
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How to starve the beast: fiscal and monetary policy rules
Martin, Fernando M. - 2019
Societies often rely on simple rules to restrict the size and behavior of governments. When fiscal and monetary policies are conducted by a discretionary and profligate government, I find that revenue ceilings vastly outperform debt, deficit and monetary rules, both in effectiveness at curbing...
Persistent link: https://www.econbiz.de/10012137093