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Are European Fiscal Rules that Bad? Discretionary Fiscal Policies in New Member States

Bökemeier, Bettina - 2014

There is no clear-cut evidence on how the adoption of the European fi scal standards influences discretionary fi scal policies within the Member States. This study investigates that phenomenon on the example of the 2004 enlargement. The results show that the e ffects of the adoption of EU fiscal...

Persistent link: https://www.econbiz.de/10013061975

Capital Taxation and Ownership when Markets are Incomplete

Farhi, Emmanuel - National Bureau of Economic Research (NBER) - 2007

This paper analyzes the theoretical and quantitative implications of optimal capital taxation in the neoclassical growth model with aggregate shocks and incomplete markets. The model features a representative-agent economy with proportional taxes on labor and capital. I first consider the case...

Persistent link: https://www.econbiz.de/10005829854

Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis

Schnabl, Gunther - In: Asian Economic Papers 14 (2015) 1, pp. 124-150

Japan experienced a boom-and-bust cycle in the real estate and stock markets almost 20 years earlier than Europe. Since the bursting of the Japanese bubble economy, the country has fallen into a deep recession and has experimented with crisis therapies in the form of unconventional monetary...

Persistent link: https://www.econbiz.de/10011202924

Restaurations des fondamentaux économiques, réformes structurelles et cohésion sociale en Turquie.

Huby, Bertrand - Université Paris-Dauphine

Depuis 2003, la Turquie a entrepris de restaurer ses fondamentaux macro-économique en mettant en place, sous la houlette du FMI, un programme de lutte contre l’inflation, tendon d’Achille traditionnel du pays et une politique budgétaire d’austérité, caractérisée par le dégagement de...

Persistent link: https://www.econbiz.de/10008871989

Quelle dette publique à l'horizon 2030 en France ?

Heyer, Éric; Plane, Mathieu; Timbeau, Xavier - In: Revue de l'OFCE n° 112 (2010) 1, pp. 5-33

The financial and banking crisis in France, as in all industrialized countries, has had a considerable impact on the activity and evolution of public finances. If the lack of activity accumulated since the beginning of the crisis is expected to take over the next decade, the level of public debt...

Persistent link: https://www.econbiz.de/10008615378

Japan am Scheideweg: Staatshaushalt bleibt die Achillesferse

Erber, Georg; Schrooten, Mechthild - In: DIW Wochenbericht 78 (2011) 31, pp. 10-15

Japan wurde durch die Naturkatastrophe am 11. März 2011 in eine erneute Rezession gerissen. Das Bruttoinlandsprodukt ist im ersten Quartal 2011 auf Jahresbasis hochgerechnet um 3,5 Prozent eingebrochen. Zwar werden die Folgen des Erdbebens und Tsunamis sowie der anschließenden...

Persistent link: https://www.econbiz.de/10009216272

Fiscal Prospects and Reforms in India

Herd, Richard; Hill, Sam; Koen, Vincent - Economics Department, Organisation de Coopération et … - 2011

Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act. While deficits widened anew in 2008 and 2009, against the backdrop of the global financial and economic crisis, efforts to reduce them have resumed since. To ensure...

Persistent link: https://www.econbiz.de/10009364448

The economic recovery plans

Dury, D.; Langenus, G.; Cauter, K. Van; Meensel, L. Van - In: Economic Review (2009) III, pp. 59-73

Economic recovery plans make up a important part of the wide-ranging package of measures that economic policy-makers worldwide have taken in response to the financial and economic crisis. More specifically, the EU Member States have either approved or announced fiscal measures to boost economic...

Persistent link: https://www.econbiz.de/10009367086

The Myth of Expansionary Fiscal Austerity

Baker, Dean - Center for Economic and Policy Research (CEPR) - 2010

fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower … government spending – to combat budget deficits. Some supporters of austerity have gone as far as arguing that fiscal adjustment … examines the arguments for austerity and emonstrates that current economic conditions in the United States do not support the …

Persistent link: https://www.econbiz.de/10008671782

Feel No Pain: Why a Deficit in Times of High Unemployment is Not a Burden

Baker, Dean - Center for Economic and Policy Research (CEPR) - 2010

With the economy suffering from near double-digit unemployment, public debate is dominated by concerns over the budget deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the deficit at present, and more importantly, because...

Persistent link: https://www.econbiz.de/10008678193