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The Federal Budget for 2018-2020 : Austerity Measures

Deryugin, Alexander - 2017

At present, the State Duma is reviewing the draft federal budget in 2018–2020, which is characterized by a conservative forecast of the price of oil, dramatic reduction of the expenditures as a result of new budget rules being applied and a high level of state borrowings. In addition, with the...

Persistent link: https://www.econbiz.de/10012944484

Reopening the Case for a Balanced Budget Amendment

Larson, Sven R. - 2014

Congress has expressed interest, one way or the other, in a balanced-budget requirement for the past six decades. Yet despite numerous attempts, the legislative body has never passed a constitutional balanced-budget amendment. Most of the analysis of why we don't yet have a constitutional...

Persistent link: https://www.econbiz.de/10013043147

Are bad governments a threat to sovereign defaults? : the effects of political risk on debt sustainability

Ajovalasit, Samantha; Consiglio, Andrea; Pagliardi, Giovanni - 2025

Political risk is a significant determinant of bond yields and economic growth in both developed and emerging markets and we develop a debt sustainability analysis model with both channels using a country ratings proxy of political risk. Political risk also affects a sovereign's willingness to...

Persistent link: https://www.econbiz.de/10015406629

Putting US Fiscal Policy on a Sustainable Path

Dynan, Karen E.; Elmendorf, Douglas W. - National Bureau of Economic Research - 2025

Even allowing for substantial uncertainty regarding projections, current US fiscal policies are almost certainly unsustainable. Therefore, policymakers must decide when and in what ways to change policies. Changing policies sooner rather than later would put debt on a lower trajectory and...

Persistent link: https://www.econbiz.de/10015409782

Analysis of Public Debt and Fiscal Sustainability at Sub National Level : Case of Haryana

Narayan, Laxmi - 2016

Sound Management of Public Finance at sub-national level is important for efficiency and effectiveness of government intervention programs. The state government presented ‘White Paper on Haryana State Finances' in an attempt to capture the trends of financial instabilities and weakness in...

Persistent link: https://www.econbiz.de/10012986394

10 Jahre Schuldenbremse : ein Konzept mit Zukunft?

Hüther, Michael - 2019

Aus historischer Perspektive war die Einführung der Schuldenbremse vor 10 Jahren begründet worden. Im Vergleich zu … Schuldenstandquote näherte sich in den vergangenen Jahren der Maastricht-Grenze von 60 Prozent an. Ob die Schuldenbremse durch verstärkte … gegeben. An-gesichts eines unübersehbar großen Investitionsbedarfs mindert die Schuldenbremse den poli …

Persistent link: https://www.econbiz.de/10011987727

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

Do fiscal rules undermine public investments? : a review of empirical evidence

Blesse, Sebastian; Dorn, Florian; Lay, Max - 2023

Fiscal rules are a frequent policy measure to restrict deficit-taking among incumbent politicians. In times of increased and sustained investment needs to mitigate the consequences of climate change, and to promote the digital and structural transformation, fiscal rules have become subject to...

Persistent link: https://www.econbiz.de/10014279327

Fiscal rules: challenges and reform opportunities for emerging markets

Ardanaz, Martin; Cavallo, Eduardo A.; Izquierdo, Alejandro - 2023

Fiscal rules have gained popularity as tools to strengthen debt sustainability by constraining policy discretion. However, their track record in the case of emerging markets is mixed, as setting up a fiscal rule has been no guarantee of debt stabilization. International experience and empirical...

Persistent link: https://www.econbiz.de/10014471228

Fiscal Rules and the selection of politicians : theory and evidence from Italy

Gamalerio, Matteo; Trombetta, Federico - 2021

Fiscal rules, i.e., constraints to the policymaking discretion of elected officials in terms of deficit and expenditures, are widely used tools to regulate fiscal policies. This paper shows that they can negatively affect the quality of candidates willing to run for office. We build a simple...

Persistent link: https://www.econbiz.de/10013225711