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Uniting European fiscal rules : how to strenghten the fiscal framework

Christofzik, Désirée I.; Feld, Lars P.; Reuter, Wolf … - 2018

The current European fiscal framework is highly complex. The multitude of fiscal rules and the discretion in their enforcement precludes an effective oversight and weakens the effectiveness of fiscal rules substantially. Against this background, we present a proposal for a careful refocusing of...

Persistent link: https://www.econbiz.de/10011898769

Fiscal adjustments and business cycle synchronization

Agnello, Luca; Caporale, Guglielmo Maria; Sousa, Ricardo M. - 2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...

Persistent link: https://www.econbiz.de/10010212384

Seeking a sustainable size and structure for the Greek public sector’s activities according to the fiscal pact for Euro

Theodoropoulos, Sotiris - In: Spoudai : journal of economics and business 62 (2012) 3/4, pp. 75-92

A number of institutional and non-institutional factors, not only economically rational but also political and historical, have risen in the long after war debate about the public sector's expansion, size and structure. Obvious inefficiencies, mounting resistance to further increases of tax...

Persistent link: https://www.econbiz.de/10010255752

How large are fiscal multipliers in Turkey?

Şen, Hüseyin; Kaya, Ayşe - 2017

multiplier ranges from -0.83 to -0.27 for taxes, and from 0.02 to 0.98 for government spending respectively. Overall, these …

Persistent link: https://www.econbiz.de/10011670351

How to achieve and sustain fiscal discipline in Turkey : rising Taxes, reducing government spending or a combination of both?

Kaya, Ayşe; Şen, Hüseyin - In: Romanian journal of fiscal policy : RJFP 4 (2013) 1, pp. 1-26

The main purpose of this paper is to investigate the relationship between tax revenue and government spending in order to make some policy suggestions on how to achieve fiscal discipline in Turkey. We have used the cointegrated vector autoregression (VAR) method along with the Granger causality...

Persistent link: https://www.econbiz.de/10010480260

Public debt consolidation and its distributional effects

Varthalitis, Petros; Sakkas, Stelios - 2019

We build a dynamic general equilibrium model with heterogeneous households, namely Rich and Poor, and capital skill complementarity structure in the production function, to study aggregate and distributional implications of fiscal consolidation policies when the government uses a rich set of...

Persistent link: https://www.econbiz.de/10012029011

Ideologically-charged terminology : austerity, fiscal consolidation, and sustainable governance

Gründler, Klaus; Potrafke, Niklas - 2019

Scholars have been active in investigating causes and consequences of austerity policies. We examine how economists use … the term "austerity" in scientific studies and measure austerity in empirical analyses. The sample includes around 3 … austerity is often used in heterodox journals. Papers published in mainstream journals use the term "fiscal consolidation …

Persistent link: https://www.econbiz.de/10011997341

Trend growth and the dynamic effects of government spending

Tesfaselassie, Mewael F. - 2011

consumption and the government spending multiplier, given that consumption and labor are somewhat complementary. -- Trend growth … ; price and wage staggering ; government spending multiplier …

Persistent link: https://www.econbiz.de/10008821669

The analysis of budget rules and macroeconomic implications in several developed economies

Florin, Popescu Răzvan; Sergiu, Prodan - In: Budgetary research review : BRR 2 (2010) 1, pp. 60-91

The purpose of budget rules can be explored from the perspective of the expected results, obtained by their enforcement. On one hand, they are meant to improve or at least maintain certain levels of the budgetary deficit and public debt. On the other hand, they can help or limit the economic...

Persistent link: https://www.econbiz.de/10009611986

Fiscal Sustainability Across Government Tiers

Claeys, Peter - 2011

This paper analyses how fiscal adjustment comes about when both central and sub-national governments are involved in consolidation. We test sustainability of public debt with a fiscal rule for both the federal and regional government. Results for the German Länder show that lower tier...

Persistent link: https://www.econbiz.de/10013124925