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EU Fiscal Rules: A Look Back and the Way Forward

Regling, Klaus - In: Intereconomics 57 (2022) 1, pp. 8-10

The decline of "natural real interest rates" during the last three decades is a common phenomenon in all advanced economies and can be explained by a number of structural factors: the downward trend in potential growth; population ageing, which has led to higher savings rates in many countries;...

Persistent link: https://www.econbiz.de/10013343162

The Economics of Fiscal Rules and Debt Sustainability

Beetsma, Roel - In: Intereconomics 57 (2022) 1, pp. 11-15

Because they exert cross-border spillover effects, fiscal policies of individual EU member states are a common concern for the entire EU.

Persistent link: https://www.econbiz.de/10013343163

Budget credibility of subnational governments: Analyzing the fiscal forecasting errors of 28 states in India

Chakraborty, Lekha; Chakraborty, Pinaki; Shrestha, Ruzel - 2020

Budget credibility, or the ability of governments to accurately forecast macro-fiscal variables, is crucial for effective public finance management. Fiscal marksmanship analysis captures the extent of errors in the budgetary forecasting. The fiscal rules can determine fiscal marksmanship, as...

Persistent link: https://www.econbiz.de/10012610192

Monetary policy, trends in real interest rates and depressed demand

Beaudry, Paul; Meh, Césaire Assah - 2021

Over the last few decades, real interest rates have trended downward in many countries. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors such as income inequality. In this paper we explore the claim that these trends may...

Persistent link: https://www.econbiz.de/10012619634

Antecipação fiscal, não fundamentalidade e não causalidade no Brasil

Borelli, Luan; Vonbun, Christian; Góes, Geraldo Sandoval - 2021

So far, there are very few papers concerning the problems of non causality and non-fundamentalness in fiscal studies …. This is even truer for Brazil. Non causality and non fundamentalness are econometric problems that are specially relevant … the ability, by market participants, to forecast and preview government expenditures before they effectively happen. This …

Persistent link: https://www.econbiz.de/10012802817

Public debt in the "new normal": A Schumpeterian perspective on fiscal policy

Bofinger, Peter - 2022

This paper shows that important insights for fiscal policy can be derived from Joseph Schumpeter's academic work. This concerns his fundamental distinction between theories in which the monetary sphere is identical with the real sphere ("real analysis"), and theories in which financial sphere is...

Persistent link: https://www.econbiz.de/10014278243

Tragfähigkeit öffentlicher Schulden, implizite Schulden und demografischer Wandel

Priewe, Jan - 2023

Im Jahr 2020 publizierte das Bundesfinanzministerium den 5. Tragfähigkeitsbericht zur Staatsverschuldung in Deutschland für den Zeitraum bis 2060. Ausgangspunkt ist die zutreffende Erkenntnis, dass die von der Alterung der Gesellschaft abhängigen Kostensteigerungen auf lange Sicht über der...

Persistent link: https://www.econbiz.de/10014278373

Changes in the profile of inequality across Europe since 2005: austerity and redistribution

Schneider, Markus P.A.; Kinsella, Stephen; Godin, Antoine - In: European Journal of Economics and Economic Policies: … 13 (2016) 3, pp. 354-374

We present two Gini-like inequality indices that provide a more nuanced picture of how the profile of inequality has changed across European countries since 2005. We use these indices to analyse the distributional changes that can be attributed to the push for austerity. We estimate the...

Persistent link: https://www.econbiz.de/10014363277

The IMF and the New Fiscalism: was there a U-turn?

Fiebiger, Brett; Lavoie, Marc - In: European Journal of Economics and Economic Policies: … 14 (2017) 3, pp. 314-332

In late 2008 a consensus was reached amongst global policymakers that fiscal stimulus was required to counteract the effects of the Great Recession, a view dubbed as the New Fiscalism. Pragmatism triumphed over the stipulations of the New Consensus Macroeconomics, which viewed discretionary...

Persistent link: https://www.econbiz.de/10014363302

Political economy of the Stability and Growth Pact

Costantini, Orsola - In: European Journal of Economics and Economic Policies: … 14 (2017) 3, pp. 333-350

In spite of many claims that the European treaties cannot be reformed, European economic governance has evolved substantially over the last two decades. The process has erected an ever more complex system of rules, deadlines, and commitments conferring more power on the European Commission and...

Persistent link: https://www.econbiz.de/10014363303