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Fiscal reaction function and fiscal fatigue: Evidence for the euro area

Checherita-Westphal, Cristina; Žďárek, Václav - 2017

This paper estimates a fiscal reaction function (FRF) framework for euro area countries and derives a novel approach to … measure fiscal fatigue. As in previous studies, we find evidence that euro area sovereigns abide, on average, by (weak … specifications is weaker for our euro area sample. …

Persistent link: https://www.econbiz.de/10011667204

European Monetary Union reform preferences of French and German parliamentarians

Blesse, Sebastian; Boyer, Pierre C.; Heinemann, Friedrich; … - 2019

We analyze data from an author-conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...

Persistent link: https://www.econbiz.de/10011984450

On the design of stabilising fiscal rules

Reuter, Wolf Heinrich; Tkačevs, Oļegs; Vilerts, Kārlis - 2018

Utilising data of the EU28 Member States for the period 1996-2015, this paper confirms the findings of previous studies that the stipulation of fiscal rules reduces fiscal volatility and consequently contributes to macroeconomic stability. Yet, we document that this result only holds for rules...

Persistent link: https://www.econbiz.de/10011984939

Empirical test of the Ricardian Equivalence in the Kingdom of Lesotho

Mosikari, Teboho Jeremiah; Eita, Joel Hinaunye - In: Cogent Economics & Finance 5 (2017) 1, pp. 1-11

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,...

Persistent link: https://www.econbiz.de/10011988774

On the cyclical behavior of fiscal policy in Egypt

Husseiny, Israa A. El - In: Contemporary Economics 12 (2018) 1, pp. 95-124

Optimal fiscal policy is expected to behave in a countercyclical manner to stabilize economies during business cycles. In particular, the public expenditure-to-GDP ratio should go up during recessions and down during expansions, while the public revenues-to-GDP ratio should move in the opposite...

Persistent link: https://www.econbiz.de/10011995329

Application of probabilistic inference in defining impact of the general government sector's size on the economy and determining the size of the sector by the economy in the EU

Mroczek, Teresa; Skica, Tomasz; Rodzinka, Jacek - In: e-Finanse: Financial Internet Quarterly 14 (2018) 1, pp. 1-11

The article's objective is to apply probabilistic inference in determination of the impact of the size of the general government sector on the economy and the impact of the economy on the size of the sector in EU Member States. The research indicated that 4 of 13 variables describing the size of...

Persistent link: https://www.econbiz.de/10012011832

Selection and assortment of the variables describing the relationship between the economy and the general government sector size by application of the LEM2 algorithm

Skica, Tomasz; Rodzinka, Jacek; Fryc, Barbara - In: e-Finanse: Financial Internet Quarterly 12 (2016) 3, pp. 69-84

This paper reverses the relatively frequent examined interrelation that links an impact of the public sector (and within it the general government sector) on the economy of the analyzed countries. The article analyses whether the size of the general government sector is a function of the economy...

Persistent link: https://www.econbiz.de/10012011873

Identifying Global and National Output and Fiscal Policy Shocks Using a GVAR

Chudik, Alexander; Pesaran, M. Hashem; Mohaddes, Kamiar - 2019

The paper contributes to the growing global VAR (GVAR) literature by showing how global and national shocks can be identified within a GVAR framework. The usefulness of the proposed approach is illustrated in an application to the analysis of the interactions between public debt and real output...

Persistent link: https://www.econbiz.de/10012018145

Dynamic fiscal competition: a political economy theory

Arcalean, Calin - 2019

I develop a political economy theory of dynamic fiscal competition via public spending and debt. With internationally mobile capital, strategic policies generate two cross-border externalities that voters in each country fail to internalize: (1) an increase in public spending that bolsters...

Persistent link: https://www.econbiz.de/10012018221

Fluctuation paths and controversial issues of fiscal policy: Where do these leave us?

Vera, Leonardo V. - In: Romanian Journal of Fiscal Policy (RJFP) 7 (2016) 1, pp. 24-43

Main changes have occurred in the comprehension and practice of fiscal policy over the last century. In this paper we do a brief historical account and show that the prominence of fiscal policy as a policy tool has waxed and waned, a condition that has hindered the capability of researchers to...

Persistent link: https://www.econbiz.de/10012018490