Showing 1 - 10 of 1,627
Austerity is a concept that is often used in the public debate. It refers to fiscal policy measures that reduce government spending and raise taxes for the purposes of closing a government budget deficit. This paper analyzes the concept in the context of the current European economic crisis and...
Persistent link: https://www.econbiz.de/10013107161
Most party systems have seen a considerable rise in polarization during the past decades. We show that fiscal policies have contributed to this development. Our macro-level analysis of 166 elections since 1980 finds that austerity increases both electoral abstention and votes for non-mainstream...
Persistent link: https://www.econbiz.de/10012841064
There is a well-established literature analyzing the effects of fiscal institutions on fiscal policy variables such as budget deficits or accumulated government debt. We combine this literature with the emerging field of positive constitutional economics, which deals with the economic effects of...
Persistent link: https://www.econbiz.de/10014182281
This paper assesses the impact of budgetary uncertainty on the optimum instrument for fiscal discipline. In addition to exogenous uncertainty, with respect to both the savings and damages of the public deficit, the model accommodates for externalities as a result of a multitier government...
Persistent link: https://www.econbiz.de/10013058959
We examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970-90 to derive robust conclusions about which variables are important in explaining cross-country differences in public sector deficits....
Persistent link: https://www.econbiz.de/10014109806
We examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970-90 to derive robust conclusions about which variables are important in explaining cross-country differences in public sector deficits....
Persistent link: https://www.econbiz.de/10014110755
This paper studies the links between financial soundness indicators and financial crisis episodes controlling for several macroeconomic and fiscal variables in 20 OECD countries. We focus our attention on aggregate capital adequacy, asset quality and bank profitability indicators compiled by the...
Persistent link: https://www.econbiz.de/10013403136
This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the...
Persistent link: https://www.econbiz.de/10012858382
Persistent link: https://www.econbiz.de/10010360804
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012060231