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The Challenges to Long Run Fiscal Sustainability in Romania

Canagarajah, Sudharshan; Brownbridge, Martin; Paliu, Anca - 2012

Romania, along with many other countries in the European Union, faces daunting fiscal challenges. Fiscal balances … deteriorated sharply following the global economic crisis, forcing Romania to implement a fiscal consolidation that was one of the …. Because of widespread tax evasion, the tax system in Romania is one of the least efficient in the European Union. Tax reforms …

Persistent link: https://www.econbiz.de/10012550949

Fiscal consolidation in an currency union : spending cuts vs. tax hikes

Erceg, Christopher J.; Lindé, Jesper - In: Journal of economic dynamics & control 37 (2013) 2, pp. 422-445

Persistent link: https://www.econbiz.de/10009693377

German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...

Persistent link: https://www.econbiz.de/10010516561

Jump-starting the euro area recovery : would a rise in core fiscal spending help the periphery?

Blanchard, Olivier; Erceg, Christopher J.; Lindé, Jesper - 2015

Persistent link: https://www.econbiz.de/10011332924

Jump-starting the euro area recovery : would a rise in core fiscal spending help the periphery?

Blanchard, Olivier; Erceg, Christopher J.; Lindé, Jesper - 2015

Persistent link: https://www.econbiz.de/10011317778

In search of the Euro area fiscal stance

Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016

This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a small fraction of non-Ricardian households and,...

Persistent link: https://www.econbiz.de/10011529025

Jump-starting the euro area recovery : would a rise in core fiscal spending help the periphery?

Blanchard, Olivier; Erceg, Christopher J.; Lindé, Jesper - 2015

We show that a .scal expansion by the core economies of the euro area would have a large and positive impact on periphery GDP assuming that policy rates remain low for a prolonged period. Under our preferred model speci.cation, an expansion of core government spending equal to one percent of...

Persistent link: https://www.econbiz.de/10011294265

Choosing the European fiscal rule

Buss, Ginters; Grüning, Patrick; Tkačevs, Olȩgs - 2021

Persistent link: https://www.econbiz.de/10012792380

The ECB is running out of policy space : can fiscal policy help?

Capolongo, Angela; Gros, Daniel - In: Economics and Business Letters : EBL 9 (2020) 3, pp. 216-220

Persistent link: https://www.econbiz.de/10012420677

EDGE-M3: a dynamic general equilibrium micro-macro model for the EU member states

D'Andria, Diego; DeBacker, Jason; Evans, Richard W.; … - 2020

This paper provides a technical description of the overlapping generations model used by the Joint Research Centre to analyse tax policy reforms, including in particular pension and demographic issues. The main feature of the EDGE-M3 model lies in its high level of disaggregation and the close...

Persistent link: https://www.econbiz.de/10012241664