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Thöne, Michael - 2022

The concept of the "quality of public finances" (QPF) covers many qualitative and structural issues of fiscal policy. This chapter traces the origins of the concept of QPF to the Lisbon Strategy and the subsequent EPC Working Group on "Quality of Public Finances" (2004‐2007). At its core, the...

Persistent link: https://www.econbiz.de/10013188102

Revenue- versus spending-based consolidation plans : the role of follow-up

Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018

The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10011904377

The sustainability of public finances and fiscal policy coordination in the EMU

Hagen, Jürgen von - 2010

The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries, causing a full-fledged fiscal crisis in Greece and severe fiscal pressures in other euro-area countries. This has prompted a series of proposals for improving the fiscal framework...

Persistent link: https://www.econbiz.de/10008664982

Debt stabilization and debt mutualization in a monetary union with endogenous risk premia

Engwerda, Jacob Christiaan; Aarle, Bas van; Weeren, … - 2015

In this paper we analyse debt stabilization in a monetary union that features endogenous risk premia. In particular, we analyse debt stabilization in two diametrically opposed regimes. In the first regime, the "national fiscal discipline regime", financial markets impose sovereign risk premia...

Persistent link: https://www.econbiz.de/10011350136

Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule

Jost, Thomas; Tödter, Karl-Heinz - 2021

Debt levels in the eurozone have reached new record highs. The member countries have tried to cushion the economic … as well as with the hypothetical application of the new fiscal rule to eurozone economies from 2022 to 2026. Finally, we … take up the recent proposal by ESM economists to increase the permissible debt ratio from 60 to 100% of GDP in the eurozone. …

Persistent link: https://www.econbiz.de/10012798538

Understanding sovereign rating movements in euro area countries

Brůha, Jan; Karber, Moritz; Pierluigi, Beatrice; … - 2017

This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric estimation technique, based on a Bayesian ordered probit...

Persistent link: https://www.econbiz.de/10011637529

Tax revenue elasticities corrected for policy changes in the EU

Mourre, Gilles; Princen, Savina - Europäische Kommission / Generaldirektion Wirtschaft … - 2015

Persistent link: https://www.econbiz.de/10011448073

The stability of tax elasticities over the business cycle in European countries

Boschi, Melisso; D'Addona, Stefano - 2017

Persistent link: https://www.econbiz.de/10011747309

Non-tax revenue in the European Union : a source of fiscal risk?

Mourre, Gilles; Reut, Adriana - 2017

Persistent link: https://www.econbiz.de/10011690417

Toward closer cohesion of international tax statistics : the ICTD/UNU-WIDER GRD 2017

McNabb, Kyle - 2017

The Government Revenue Dataset (GRD) was launched in September 2014 and, in the few years since, has gone on to be recognized as the go-to source for researchers and policymakers seeking cross-country data on government revenues and taxes. However, as with any such project, successive rounds of...

Persistent link: https://www.econbiz.de/10011777092