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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
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
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
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
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
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/10009314101
government debt management can address this problem. The optimal policy supplies retirees with securities that share the …
Persistent link: https://www.econbiz.de/10011398905
This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...
Persistent link: https://www.econbiz.de/10009665525
Keynes' General Theory (1936) is arguably one of the most important books of the twentieth century. His ideas for stabilizing the aggregate economy have profoundly influenced economic theory as well as popular opinion about what governments can and should do with respect to the business cycle....
Persistent link: https://www.econbiz.de/10011509394
rules to ensure stable debt and output paths when taxes are distortionary, particularly in a small open economy. In this … stabilizing, or "passive", in equilibrium. For instance, under moderate debt-multiplier combinations, a debt-GDP targeting rule … can result in instability, while a debt-level targeting rule, irrespective of GDP, can result in stability. A primary …
Persistent link: https://www.econbiz.de/10010427960