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Austerity in the euro area: the sad state of economic policy in Germany and the EU

Truger, Achim - In: European Journal of Economics and Economic Policies: … 10 (2013) 2, pp. 158-174

The euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

Persistent link: https://www.econbiz.de/10014363172

Reviving fiscal policy in Europe: towards an implementation of the golden rule of public investment

Truger, Achim - In: European Journal of Economics and Economic Policies: … 13 (2016) 1, pp. 57-71

The implementation of a golden rule of public investment as a necessary institutional reform and an important step aimed at overcoming the constraints imposed by the new European Economic Governance are proposed. The rule is widely accepted in traditional public finance and can deliver both...

Persistent link: https://www.econbiz.de/10014363254

Stock-flow adjustment - only a residual value? Evidence from European Union countries

Banaszewska, Monika - In: e-Finanse: Financial Internet Quarterly 15 (2019) 3, pp. 10-20

suggests that SFA may be used strategically to reduce budget deficit and public debt. As such, SFA impairs fiscal transparency … SFA is inversely related to public debt, whereas the inverse relationship between budget balance and SFA is not confirmed …

Persistent link: https://www.econbiz.de/10013466219

It takes two to tango: a reply to our MMT critics

Drumetz, Françoise; Pfister, Christian - In: European Journal of Economics and Economic Policies: … 20 (2023) 1, pp. 78-89

We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money,...

Persistent link: https://www.econbiz.de/10014441467

Gestiegene finanzpolitische Unsicherheit: Zur Finanzpolitik des Bundes nach dem Urteil zum zweiten Nachtragshaushalt 2021

Büttner, Thiess - In: Wirtschaftsdienst 104 (2024) 1, pp. 9-13

The paper deals with the current budget crisis in Germany, which was triggered by an attempt to increase public debt … beyond the limits of the German constitution. The rejection of the Supplementary Budget 2021 of the federal government by the … Constitutional Court in November 2023 requires a substantial revision of budget plans. The paper first asks why fiscal policy has …

Persistent link: https://www.econbiz.de/10014484297

Macroeconomic determinants of fiscal policy in East Africa: A panel causality analysis

Mawejje, Joseph; Odhiambo, Nicholas M. - In: Journal of Economics, Finance and Administrative Science 27 (2022) 53, pp. 105-123

Purpose - This study investigates the dynamic causality linkages between fiscal deficits and selected macroeconomic indicators in a panel of five East African Community countries. Design/methodology/approach The research design is based on panel cointegration tests, panel cross-section...

Persistent link: https://www.econbiz.de/10014516409

Zinsspreads auf europäische Staatsanleihen: Implikationen und Lehren aus der europäischen Schuldenkrise

Bernoth, Kerstin - In: Vierteljahrshefte zur Wirtschaftsforschung 79 (2010) 4, pp. 103-118

Diese Studie untersucht die zeitvariierenden Faktoren, welche die Zinsspreads auf Europäische Staatsanleihen zwischen Q1/1999 und Q1/2010 beeinflusst haben. Vor der Finanzkrise, welche Ende 2007 ihren Anfang nahm, haben Finanzmärkte Kreditrisiken nur sehr begrenzt wahrgenommen und...

Persistent link: https://www.econbiz.de/10010377952

Debt and fiscal responsibility in a federal structure: The case of Pakistan

Tahir, Nadia; Tahir, Pervez - In: Romanian Journal of Fiscal Policy (RJFP) 3 (2012) 2, pp. 27-47

A recent amendment in Pakistan's federal constitution allows provinces to borrow domestically and abroad. There is a concern that it may generate unsustainable debt burden, considering the country's delinquent monetary policy and a historical deficit bias. The objective of this paper is to...

Persistent link: https://www.econbiz.de/10010491477

How vulnerable is fiscal policy in Central and Eastern European countries?

Stoian, Andreea - In: Romanian Journal of Fiscal Policy (RJFP) 3 (2012) 2, pp. 68-81

The aim of this paper is to investigate the vulnerability of fiscal policy in the case of 10 Central and Eastern European countries. We use a newly introduce indicator named Cumulative Excess of the Primary Balance (CEPB) which shows the deviations of current fiscal policy from a fiscal rule...

Persistent link: https://www.econbiz.de/10010491479

Makroökonomische Effekte der Haushaltskonsolidierung in der Europäischen Union

Semmler, Willi; Semmler, André; Schoder, Christian - In: Vierteljahrshefte zur Wirtschaftsforschung 82 (2013) 4, pp. 163-180

Unter der Annahme eines schwachen fiskalischen Multiplikatoreffekts und in der Hoffnung die Haushaltskonsolidierung schnell zu erreichen wurden die fiskalpolitischen Konsolidierungsmaßnahmen in der Europäischen Währungsunion ehrgeizig implementiert. Die erhoffte Konsolidierung blieb...

Persistent link: https://www.econbiz.de/10011282555