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Investment and the golden rule in the European Union
Marinescu, Ada Cristina - In: Financial studies 22 (2018) 1, pp. 53-63
We will study in this paper the relation between public investment, public debt and fiscal rules in the European Union countries. The strict fiscal rules imposed by EU have negatively affected the investments. The decline in public investment in European Union is related to the fiscal rules...
Persistent link: https://www.econbiz.de/10011964940
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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
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Trust in government and fiscal adjustments : conference paper
Bursian, Dirk; Weichenrieder, Alfons J.; Zimmer, Jochen - 2014
The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of...
Persistent link: https://www.econbiz.de/10010483952
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Fiscal Austerity, Growth Prospects, and Sovereign CDS Spreads : The Eurozone and Beyond
Yuan, Chunming - 2014
swaps (CDS) for a panel of 36 countries including the Eurozone. We find that austerity practice generally leads to an …
Persistent link: https://www.econbiz.de/10013062276
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The myth of austerity. empirical evidence from the eurozone countries
Wildowicz-Giegiel, Anna - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 2, pp. 8-19
The paper discusses the impact of austerity policy on economic performance in the eurozone countries after the global … macroeconomic conditions which accompanied it and the impact of such policy on economic growth in the eurozone countries. The … Method of Moments was used. Data from 2010-17 for the eurozone countries served to prove the existence of a key negative …
Persistent link: https://www.econbiz.de/10012104382
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Government balance-consistent economic growth rates and their implications : a study of the Euro area countries
Pattichis, Charalambos - In: European journal of government and economics : EJGE 9 (2020) 3, pp. 220-231
Using the model derived by Bajo-Rubio (2014), this paper estimates government budget balance-consistent growth rates for the euro area countries. A comparison of these estimates to their actual growth rates indicates that most of these countries are growing at rates that are very similar to...
Persistent link: https://www.econbiz.de/10012489723
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Does the Swiss Debt Brake Outperform the New European Stability and Growth Pact in Terms of Stabilising Debt and Smoothing the Business Cycle? (Die Schweizer Schuldenbremse -Nachha...
Colombier, Carsten - 2009
The Swiss debt brake is a fiscal rule at central government level which aims at stabilizing debt. However, business cycle fluctuations are also accounted for. This paper discusses criticism of the debt brake that it cannot feasibly simultaneously achieve either anti-cyclical or sustainable...
Persistent link: https://www.econbiz.de/10014214811
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Will the German debt brake succeed? : survey evidence from state politicians ; conference paper
Heinemann, Friedrich; Janeba, Eckhard; Schröder, Christoph - 2013 - Work in progress
The present paper analyzes expectations of German politicians about the German debt brake (Schuldenbremse), which became part of the German constitution in 2009. This fiscal rule requires the federal government and the German states to run a (cyclically adjusted) budget deficit of no more than...
Persistent link: https://www.econbiz.de/10010336744
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Balanced budget rules and fiscal outcomes : evidence from historical constitutions
Asatryan, Zareh; Castellon, Cesar; Stratmann, Thomas - 2016
This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that the introduction of a constitutional-BBR reduces...
Persistent link: https://www.econbiz.de/10011454137
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Fiscal consolidation and its cross-country effects
Philippopulos, Apostolēs; Varthalitis, Petros; … - 2016
We build a new Keynesian DSGE model consisting of two heterogeneous countries participating in a monetary union. We study how public debt consolidation in a country with high debt (like Italy) affects welfare in a country with solid public finances (like Germany). Our results show that debt...
Persistent link: https://www.econbiz.de/10011515282