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Mind the Gap – Watch the Ways of Cyclical Adjustment of the Budget Balance
Kiss, Gábor P.; Vadas, Gábor - Magyar Nemzeti Bank (MNB) - 2004
Cyclically adjusted budget deficit (CAB) is a widely cited and used concept in the evaluation of fiscal situation. The key idea behind it is to separate temporary and/or non-discretionary effects on budget deficit from the underlying balance and/or effects of discretionary measures of fiscal...
Persistent link: https://www.econbiz.de/10005146781
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Mind the Gap – International Comparison of Cyclical Adjustment of the Budget
Kiss, Gábor P.; Vadas, Gábor - Magyar Nemzeti Bank (MNB) - 2005
used methods: the aggregate approach and the unconstrained disaggregate approach. In this paper we apply them on USA, Japan …
Persistent link: https://www.econbiz.de/10005562418
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Mind the Gap – International Comparison of Cyclical Adjustment of the Budget
Vadas, Gabor; Kiss, Gabor P. - EconWPA - 2005
used methods: the aggregate approach and the unconstrained disaggregateapproach. In this paper we apply them on USA, Japan …
Persistent link: https://www.econbiz.de/10005560977
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Mind the Gap - international comparison of cyclical adjustment of the budget
Kiss, Gábor P. (contributor); Vadas, Gábor (contributor) - 2005
Persistent link: https://www.econbiz.de/10003284505
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Quo vadis, deficit? How high the tax level will be when the economic cycle reverses?
Kiss, Gábor P.; Reppa, Zoltán - In: MNB Bulletin 5 (2010) 3, pp. 47-56
The economic recession dampened tax revenues, causing deterioration – partly temporary, partly permanent – in the general government balance. The fiscal position can be assessed realistically if we can determine the level of revenue and deficit in the medium run. In order to do this, we...
Persistent link: https://www.econbiz.de/10008694350
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Has Japan been following Modern Money Theory without recognizing it? : no! and yes
Wray, L. Randall; Nersisyan, Yeva - 2021
Modern Money Theory (MMT) economists have used Japan as an example of a country that demonstrates that high deficits … really spend tax revenue or borrow in their own currency-with Japan serving as an example of a country that does not face … financial budget constraints as normally defined. In this paper we evaluate whether Japan is the poster child of MMT and argue …
Persistent link: https://www.econbiz.de/10012432238
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The Fiscal Stance in Japan : A Model-Based Analysis
Fournier, Jean-Marc; Hisanaga, Takuma; Nguyen, Anh D.M - 2022
This paper assesses Japan’s fiscal stance in the past and the future with a stochastic structural model called the …
Persistent link: https://www.econbiz.de/10014077412
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Altruism, Macroeconomic Aggregates and the Cyclical Behavior of Fertility : Theory and Evidence from U.S. Data
Abo-Zaid, Salem M. - 2015
Using U.S. data for 1976-2013, this paper studies the effects of various macroeconomic variables, particularly the national debt, government budget deficits and taxes, on fertility decisions over the business cycle. A rise in the debt-GDP ratio, government spending-GDP ratio and the deficit-GDP...
Persistent link: https://www.econbiz.de/10013019995
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Survey-based structural budget balances
Göttert, Marcell; Wollmershäuser, Timo - 2021
The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods and their use for calculating structural budget balances. In this paper we review the main properties of the mainstream approaches and...
Persistent link: https://www.econbiz.de/10012438332
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Survey-based structural budget balances
Göttert, Marcell; Wollmershäuser, Timo - 2021
The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods and their use for calculating structural budget balances. In this paper we review the main properties of the mainstream approaches and...
Persistent link: https://www.econbiz.de/10012504787