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From budgetary instrument to the budgetary objective: The Portuguese case
Lopes, Luís; Antunes, Margarida - 2016
-objective". Portugal has followed the contemporary capitalism model of governance since the 1980s, although Portuguese fiscal policy in the … numbers" and since joining the Euro Zone practically the only objective of Portugal's fiscal policy has been compliance with …
Persistent link: https://www.econbiz.de/10011572682
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Fiscal sustainability, fiscal reactions, pitfalls and determinants
Afonso, António; Coelho, José Carlos - 2022
We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We …
Persistent link: https://www.econbiz.de/10013162289
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Public finances solvency in the Euro Area : true or false?
Afonso, António; Coelho, José Carlos - 2022
We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a country-by-country analysis, the answer to the title question is true. For most countries, (i) the primary budget balance reacts positively to the lagged public debt ratio and...
Persistent link: https://www.econbiz.de/10013365375
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Impact of fiscal institutions on public finances in the European Union : review of evidence in the empirical literature
Gorčák, Martin; Šaroch, Stanislav - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 2, pp. 215-232
This paper examines the impact of budgetary institutions on public finances in the European Union on the basis of a critical survey of the relevant theoretical and empirical literature. In general, the authors find that fiscal institutions (namely fiscal rules) have successfully contributed to...
Persistent link: https://www.econbiz.de/10012598898
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Central Bank Reaction to Public Deficit and Sound Public Finance : The Case of the European Monetary Union
Canale, Rosaria Rita - 2009
The paper aims to shed light on the relation between monetary and fiscal policy in EMU, focusing on the interest rates and deficit dynamics. We present a theoretical model in which monetary and fiscal policy independently interact in a closed economic system through their own instrument, namely,...
Persistent link: https://www.econbiz.de/10012719593
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Fiscal consolidation by austerity and EU surveillance policies
Iancu, Aurel; Olteanu, Dan - 2015
After a brief introduction dealing with critical opinions of some economists on the European austerity policy, the authors point out that austerity as a means of achieving fiscal consolidation and financial stability is applied when the fiscal domain is weak. After analyzing the effects of the...
Persistent link: https://www.econbiz.de/10011576575
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Future fiscal and debt policies : Germany in the Context of the European Monetary Union
Hein, Eckhard; Truger, Achim - 2013
Currently fiscal policies in Germany seem to be in a very comfortable position and the German Debt Brake is regarded as an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact. In this paper we scrutinize German fiscal policies and...
Persistent link: https://www.econbiz.de/10009756271
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Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment
Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018
Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...
Persistent link: https://www.econbiz.de/10011856496
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The Fiscal Challenge in Portugal
Guichard, Stéphanie - 2006
Portugal’s fiscal policy has failed to durably reduce the deficit below the Stability and Growth Pact threshold of 3 … describes fiscal developments in Portugal over the past years and explores why earlier attempts of fiscal consolidation have …. The new consolidation strategy is not relying on one-off measures in a context where Portugal has been granted more time …
Persistent link: https://www.econbiz.de/10012444186
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Fiscal Imbalance : A Primer
Institute, Cato - 2016
The concept of fiscal imbalance is familiar to economists but less so to policymakers, politicians, and the public. Yet understanding this concept is essential to rational discussion of government financial health. This paper provides a primer on government fiscal imbalance.The material is not...
Persistent link: https://www.econbiz.de/10012991402