The paper discusses the impact of austerity policy on economic performance in the eurozone countries after the global crisis that occurred in 2007-08. The undertaken fiscal consolidation efforts to cut government expenditure and increase government taxes which begun in 2010, aimed to return...

In der EU haben die Verhandlungen über den nächsten Mehrjährigen Finanzrahmen (MFR) für die Periode 2021 bis 2027 begonnen. Im Vergleich zum letzten MFR werden sich die politischen Prioritäten sowie auch die zur Verfügung stehenden Mittel verschieben. Nicht nur der Austritt...

This article is dedicated to a study of the relations between the economy and the size of the general government sector. The main aim of the article is an identification of the most important variables that are used to determine relations between the economy and size of the sector, as well as to...

Nach der Bundestagswahl schlägt die Stunde der finanzpolitischen Wahrheit. Wer auch immer die nächste Bundesregierung stellt: Der Kassensturz nach der Wahl wird zeigen, dass kaum noch finanzpolitischer Handlungsspielraum besteht. Die öffentlichen Haushalte haben sich im Zuge der Rezession...

Trotz der aktuell guten Finanzlage der deutschen Kommunen geht die Schere zwischen finanzstarken und -schwachen Kommunen weiter auseinander. Die Aufnahme von Krediten bleibt eine wichtige Finanzierungsquelle der Städte und Gemeinden. Das Kommunalgeschäft wird an Bedeutung gewinnen, unterliegt...

In the first part of the paper are presented general aspects regarding budgetary priority establishment. The yearly achievable budgetary revenues cannot cover entirely the expenditures, being necessary the sorting of them in concordance with budgetary priorities from the Government's program....

The Spanish debt consolidation between 1996 and 2007 represents, by its size and duration, an impressive case among the European Union countries. This paper aims at characterizing the Spanish debt consolidation process in order to assess its effects on economic inequality and welfare. For that...

This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised...

Today it's frequently used the terms PIGS or PIIGS, acronyms used by economic journalists to refer to different countries of the European Union for their statement of affairs. The bad connotation is evident from the fact that pigs in English suggest the bad state of the economies of these...

The objective of this paper is to test the existence of Ricardian Equivalence in Lesotho using annual data for two sample periods, 1980-2014 and 1988-2014. This proposition is important and has crucial implications for tax policy. Household consumption, government debt, government expenditure,...