The paper uses fiscal reaction functions for a panel of euro-area countries to investigate whether euro membership has … the euro. While we find some evidence for such a loss in prudence, the results are not robust to changes in the …

Using fiscal reaction functions for a panel of actual euro-area countries the paper investigates whether euro … to succession to the euro. While we find some evidence for such a loss in prudence, the results are not robust to changes …

We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we … estimate to estimate a country-specific time-varying measure of fiscal sustainability using the fiscal reaction function. This … estimate of fiscal sustainability found previously. Our findings indicate that higher inflation rates contribute positively to …

between 1990 and 2021, we identify evidence of average compliance with sustainability restrictions among Eurozone nations …Through fiscal reaction functions, we investigate fiscal sustainability for five European country-group panels and … check for a change in fiscal behaviour after countries adopted the euro as their currency. Using annual data for the period …

We assess the time varying features of fiscal sustainability in the euro area via revisiting the empirical relationship … between the primary budget surplus and the debt-to-GDP ratio. Focusing on a sample of 11 Euro-area countries between 1999Q1 … shows that the 2008-2009 global economic and financial crisis exerted a sizeable negative impact on fiscal sustainability …

The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up … sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … analysis (DSA) to act as a warning system for national policies. This paper introduces a comprehensive DSA framework for euro …