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Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule
Jost, Thomas; Tödter, Karl-Heinz - 2021
Debt levels in the eurozone have reached new record highs. The member countries have tried to cushion the economic … as well as with the hypothetical application of the new fiscal rule to eurozone economies from 2022 to 2026. Finally, we … take up the recent proposal by ESM economists to increase the permissible debt ratio from 60 to 100% of GDP in the eurozone. …
Persistent link: https://www.econbiz.de/10012798538
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Debt Sustainability Analysis for Euro Area Sovereigns : A Methodological Framework
Bouabdallah, Othman - 2017
sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …
Persistent link: https://www.econbiz.de/10012958895
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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 …-varying coefficients, we find that fiscal sustainability increases with growth, fiscal balances and fiscal rules indices, and decreases …
Persistent link: https://www.econbiz.de/10013162289
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The European debt crisis and fiscal reactions in Europe 2000-2014
Baldi, Guido; Stæhr, Karsten - 2016
After the outbreak of the global financial crisis, some governments in the EU experienced serious fiscal problems, while others were less affected. This paper seeks to shed light on the divergent fiscal performance in the EU countries before and after the outbreak of the crisis. Fiscal reaction...
Persistent link: https://www.econbiz.de/10011666901
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Debt sustainability analysis for euro area sovereigns: A methodological framework
Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017
sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …
Persistent link: https://www.econbiz.de/10011661911
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The European debt crisis and fiscal reaction functions in Europe 2000 - 2012
Baldi, Guido; Stæhr, Karsten - 2013
After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others were less affected. This paper seeks to shed light on the divergent fiscal performance by assessing the fiscal conduct in the EU countries before and after the outbreak of the...
Persistent link: https://www.econbiz.de/10009745191
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The European Debt Crisis and Fiscal Reaction Functions in Europe 2000-2012
Baldi, Guido - 2013
After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others were less affected. This paper seeks to shed light on the divergent fiscal performance by assessing the fiscal conduct in the EU countries before and after the outbreak of the...
Persistent link: https://www.econbiz.de/10013081592
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The European Debt Crisis and Fiscal Reaction Functions in Europe 2000-2012
Baldi, Guido - 2018
After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others were less affected. This paper seeks to shed light on the divergent fiscal performance by assessing the fiscal conduct in the EU countries before and after the outbreak of the...
Persistent link: https://www.econbiz.de/10012910068
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012843420
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The Euro area periphery sovereigns' fiscal positions and unconventional monetary policy
Hülsewig, Oliver; Scharler, Johann - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012154910