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Lessons Learned from Tax vs. Expenditure Based Fiscal Consolidation in the European Transition Economies

Mirdala, Rajmund - William Davidson Institute, University of Michigan - 2013

European Union member countries are currently exposed to negative implications of the economic and debt crisis … economic crisis, the call for fiscal consolidation became urgent almost immediately and this need significantly strengthen … after the debt crisis contagion flooded Europe. In the paper we provide an overview of main trends in public budgets and …

Persistent link: https://www.econbiz.de/10011161380

Measuring the Effects of Fiscal Policy

Bouakez, Hafedh; Chihi, Foued; Normandin, Michel - Centre Interuniversitaire sur le Risque, les Politiques … - 2010

Measuring the effects of discretionary fiscal policy is both difficult and controversial, as some explicit or implicit identifying assumptions need to be made to isolate exogenous and unanticipated changes in taxes and government spending. Studies based on structural vector autoregressions...

Persistent link: https://www.econbiz.de/10008486873

Managing Volatility in Transition Economies: The Experience of the Central and Eastern European Countries

Coricelli, Fabrizio; Ianchovichina, Elena - C.E.P.R. Discussion Papers - 2004

We discuss sources of volatility and vulnerability in the CEECs during the transition and leading up to EU accession. The Paper emphasizes the role of the transition shock as a source of extreme volatility on a much larger scale than the one observed during crises in emerging markets. The low...

Persistent link: https://www.econbiz.de/10005666798

Impact of the Economic Crisis on the Countries in Eastern Europe (II)

Iulian, Dobra - In: Revista OEconomica (2010) 03

respect to their response to the global crisis of 2008-2010. More precisely, we want to find out why some countries …

Persistent link: https://www.econbiz.de/10009140928

Impact of the Economic Crisis on the Countries in Eastern Europe (I - Literature Review, Theory and Empirical Evidence)

Iulian, Dobra - In: Revista OEconomica (2010) 02

respect to their response to the global crisis of 2008-2010. More precisely, we want to find out why some countries …

Persistent link: https://www.econbiz.de/10009140943

Impact of the Economic Crisis on the Countries in Eastern Europe (III) Literature Review, Theory and Empirical Evidence

Iulian, Dobra - In: Revista OEconomica (2010) 04

global crisis of 2008-2010. We want to find out why some countries had larger GDP declines than others in 2009. We find that … the global crisis. …

Persistent link: https://www.econbiz.de/10009140951

Fiscal policy and the assessment of output gaps in real time: An exercise in risk management

Larch, Martin; Cugnasca, Alessandro; Kumps, Diederik; … - 2019

Fiscal policymakers are expected to conduct countercyclical policies to mitigate cyclical fluctuations of output, but the assessment of cyclical conditions in real time is subject to considerable uncertainty. They face two types of risk: (i) launching discretionary measures to support or dampen...

Persistent link: https://www.econbiz.de/10012000572

Fiscal policy and the assessment of output gaps in real time : an exercise in risk management

Larch, Martin; Cugnasca, Alessandro; Kumps, Diederik; … - 2019

Persistent link: https://www.econbiz.de/10011999053

Cyclically Adjusted Balance of Latvia's General Government Consolidated Budget

Grundiza, Sigita; Stikuts, Dainis; Tkacevs, Olegs - Latvijas Banka - 2005

This study estimates cyclically adjusted balances of Latvia's general government consolidated budget using methodologies of the ESCB and OECD and assesses the consistency of the implemented fiscal policy with the EU fiscal policy framework. During the period of rapid economic growth the Latvian...

Persistent link: https://www.econbiz.de/10005012874

Heterogeneous Labor Skills, The Median Voter and Labor Taxes

Piguillem, Facundo; Schneider, Anderson - In: Review of Economic Dynamics 16 (2013) 2, pp. 332-349

This paper analyzes the median voter's most preferred sequences of labor taxes in the standard neoclassical growth model. We consider an infinite horizon economy in which agents are heterogeneous with respect to both initial wealth and labor skills. We start by providing a set of sufficient...

Persistent link: https://www.econbiz.de/10010630853