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The paper analyses the medium-term objectives (MTOs) recently adopted by the EU Member States as a reference for the multilateral budgetary surveillance, assessing the ability of the new MTOs to promote long-term fiscal sustainability. The paper calibrates the (yet undisclosed) algorithm for...
Persistent link: https://www.econbiz.de/10008682851
We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999-2019. To this extent, we propose a thick modelling approach, which allows a vast number of model specifications in a dynamic panel setting. We find that fiscal expansions are...
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The existence of fiscal theories in economic activity was perceived differently from one historical stage to another, from one state to another or from one community to another, depending on the economic and social development of each of them. Therefore, the development of fiscal policy theories...
Persistent link: https://www.econbiz.de/10010721397
: public and private savings as well as investments and resulting imbalances. Of particular interest is the interaction between … establish the dependency of private investment on private savings and private consumption is the main driver of the saving …/investment balance. In contrast, private savings seem to be better mobilized to finance private investment and the latter is the main …
Persistent link: https://www.econbiz.de/10010593212
: public and private savings as well as investments and resulting imbalances. Of particular interest is the interaction between … establish the dependency of private investment on private savings and private consumption is the main driver of the saving …/investment balance. In contrast, private savings seem to be better mobilized to finance private investment and the latter is the main …
Persistent link: https://www.econbiz.de/10014768798
By definition, economic policy is “the sum of measures taken by state authorities in order to guarantee economic growth, employment, balancing the balance of foreign payments, prices stability, decreasing the discrepancies and also guaranteeing national independence” (Macroeconomic...
Persistent link: https://www.econbiz.de/10010555837
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