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The Role of Budget Policy under the Financial and Economic Crisis
Vlasov, S.; Ponomarenko, A. - In: Journal of the New Economic Association (2010) 7, pp. 111-133
This study examines the growing role of fiscal policy at the time of financial crisis. It presents the analysis of fiscal stimulus measures of the Russian Government during the period of 2008-2010 and the comparison with similar measures implemented in other countries. Risks and restrictions...
Persistent link: https://www.econbiz.de/10008919639
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Non-Linear Budgetary Policies: Evidence from 150 Years of Italian Public Finance
Piergallini, Alessandro; Postigliola, Michele - Volkswirtschaftliche Fakultät, … - 2013
surpluses in response to the accumulation of debt. The empirical results show the occurrence of a significantly positive … reaction of primary surpluses to debt when the debt-GDP ratio exceeded the trigger value of 110 percent. The after …
Persistent link: https://www.econbiz.de/10011110856
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The Austrian Pension System – How Recent Reforms Have Changed Fiscal Sustainability and Pension Benefits
Knell, Markus; Köhler-Töglhofer, Walpurga; Prammer, Doris - In: Monetary Policy & the Economy (2006) 2, pp. 69-93
This article discusses the most recent pension reforms in Austria, which were mainly triggered by the need to alleviate the budgetary pressure stemming from the age structure of the Austrian population. Using synthetic indicators, derived from the government’s budget constraint, the paper...
Persistent link: https://www.econbiz.de/10005273231
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Russian fiscal policy during the financial crisis
Ponomarenko, Alexey A.; Vlasov, Sergey A. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2010
This study examines the expanding role of fiscal policy at a time of financial crisis. It analyses the stimulative fiscal measures of the Russian government in 2008-2010 and compares these with simi-lar actions taken in other countries. The risks and limitations associated with the development...
Persistent link: https://www.econbiz.de/10008466296
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Is there a Debt-Threshold Effect on Output Growth?
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt … for a universally applicable threshold effect in the relationship between public debt and economic growth, once we account … negative long-run effects of public debt build-up on output growth. Provided that public debt is on a downward trajectory, a …
Persistent link: https://www.econbiz.de/10011307102
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Debt, Inflation and Growth - Robust Estimation of Long-Run Effects in Dynamic Panel Data Models
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2013
This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … results indicate that, if the debt to GDP ratio is raised and this increase turns out to be permanent, then it will have …
Persistent link: https://www.econbiz.de/10010328717
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Is there a debt-threshold effect on output growth?
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt … for a universally applicable threshold effect in the relationship between public debt and economic growth, once we account … negative long-run effects of public debt build-up on output growth. Provided that public debt is on a downward trajectory, a …
Persistent link: https://www.econbiz.de/10011292965
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Debt, inflation and growth : robust estimation of long-run effects in dynamic panel data models
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2013
This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … results indicate that, if the debt to GDP ratio is raised and this increase turns out to be permanent, then it will have …
Persistent link: https://www.econbiz.de/10010212372
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Debt, Inflation and Growth - Robust Estimation of Long-Run Effects in Dynamic Panel Data Models
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - CESifo - 2013
This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … results indicate that, if the debt to GDP ratio is raised and this increase turns out to be permanent, then it will have …
Persistent link: https://www.econbiz.de/10010721613
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Fiscal Responsibility And Economic Efficiency:A Functional Approach
Nwaobi, Godwin - Volkswirtschaftliche Fakultät, … - 2009
In both developed and developing countries, there are basically two main sources of economic instability: exogenous shocks and inappropriate policies. Exogenous shock (terms-of-trade shocks, natural disasters and capital flow reversals) can throw an economy into disequilibrium and therefore...
Persistent link: https://www.econbiz.de/10005836865