Similar Search Results

Fiscal rules and economic cycles : quality (always) matters

Andrián, Leandro; Hirs-Garzón, Jorge; Urrea, Iván; … - 2023

Governments can issue public debt for both good and bad reasons. The former include intertemporal tax smoothing, fiscal stimulus, and asset management. In contrast, the bad reasons, which generate higher indebtedness, are mainly associated with political cycles, rent capture, intergenerational...

Persistent link: https://www.econbiz.de/10014480731

The Economic Case for Monetary Union in the European Union

Buiter, Willem H. - 1997

Differential requirements for seigniorage provide a weak case for retaining monetary independence. As regards adjustment to asymmetric shocks, nominal exchange rate flexibility is at best a limited blessing and at worst a limited curse. Absence of significant fiscal redistribution mechanisms...

Persistent link: https://www.econbiz.de/10014089435

The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

proposes the introduction of the traditional public finance golden rule into the EU/Eurozone fiscal framework (Stability and … (SWP) und Fiskalpakt(FP) der EU/Eurozone. Eine solche Regel würde die öffentlichen (Netto-)Investitionen in geeigneter … Finanzpolitik insgesamt größere Spielräume einräumen und die öffentlichen Investitionen als besonders wachstumsrelevante öffentliche …

Persistent link: https://www.econbiz.de/10011477456

Do fiscal rules matter? : a survey on recent evidence

Brändle, Thomas; Elsener, Marc - 2023

Fiscal rules are argued to be important for sound and sustainable fiscal policies and have been increasingly adopted over the last 20 years. However, as increased fiscal pressure and fiscal risks urge countries to address the public debt legacy left by recent economic crises, fiscal rules come...

Persistent link: https://www.econbiz.de/10014343085

Determinants of budget deficits in Europe : the role and relations of fiscal rules, fiscal councils, creative accounting and the Euro

Maltritz, Dominik; Wüste, Sebastian - In: Economic modelling 48 (2015), pp. 222-236

Persistent link: https://www.econbiz.de/10011454092

Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule

Jost, Thomas; Tödter, Karl-Heinz - 2021

Debt levels in the eurozone have reached new record highs. The member countries have tried to cushion the economic … as well as with the hypothetical application of the new fiscal rule to eurozone economies from 2022 to 2026. Finally, we … take up the recent proposal by ESM economists to increase the permissible debt ratio from 60 to 100% of GDP in the eurozone. …

Persistent link: https://www.econbiz.de/10012798538

Searching for new fiscal rules in the euro area : A new proposal

Priewe, Jan - In: European journal of economics and economic policies : … 18 (2021) 2, pp. 145-159

Persistent link: https://www.econbiz.de/10012650969

Fiscal Rules, Independent Fiscal Institutions, and Sovereign Risk

CĂPRARU, Bogdan; GEORGESCU, George; Sprincean, Nicu - 2022

This paper explores the implications of fiscal rules and independent fiscal institutions (IFIs) on sovereign risk. We employ a dynamic panel model for a sample composed of 24 countries members of the European Union over the period 2007-2019 and document that fiscal rules contain sovereign...

Persistent link: https://www.econbiz.de/10014237441

A fiscal rule to achieve debt sustainability in Colombia

Arbeláez, María Angélica; Benítez, Miguel; Steiner, … - 2021

In order to enhance fiscal sustainability and regain “investment grade” credit rating, in 2011 Colombia implemented a fiscal rule (FR) on the Central Government's structural balance. Investment grade was rapidly attained, and FR targets were complied with, until 2019. Using the Synthetic...

Persistent link: https://www.econbiz.de/10012586878

Fiscal policy and rebalancing in the Euro area : a critique of the German debt brake from a Post-Keynesian perspective

Hein, Eckhard; Truger, Achim - 2013

The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...

Persistent link: https://www.econbiz.de/10010187671