Similar Search Results

Modeling fiscal sustainability in dynamic macro-panels with heterogeneous effects : evidence from German federal states

Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018

In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...

Persistent link: https://www.econbiz.de/10011822075

On the fiscal sustainability of Swiss Cantons since 1905

Bury, Yannick; Feld, Lars P.; Köhler, Ekkehard A. - 2023 - This version: 4th November 2023

With an outstandingly long data set of Swiss cantonal public finances we study whether the Swiss subnational level runs sustainable fiscal policies. Going back to the year 1905, we test for stationarity of cantonal public debt, revenue and spending and for cointegration between cantonal revenues...

Persistent link: https://www.econbiz.de/10014416154

Stellungnahme zum Transformationsfonds des Saarlands : Antrag der SPD-Landtagsfraktion zur Feststellung einer außergewöhnlichen Notsituation nach § 2 Abs. 1 Haushaltstabilisierungs...

Beznoska, Martin; Hentze, Tobias; Kauder, Björn - 2022

Die Schuldenbremse verbietet den Bundesländern in wirtschaftlichen Normalzeiten die Aufnahme von Schulden selbst zur … für die Einführung der Schuldenbremse. Angesichts der damaligen Wirtschafts- und Finanzkrise fielen die Regeln der … Schuldenbremse sehr rigide aus. Aus heutiger Sicht wäre es sinnvoll, über eine begründete Flexibilisierung dieser Regeln nachzudenken …

Persistent link: https://www.econbiz.de/10013445114

Von der Corona-bedingten Schuldenaufnahme zur Wiedereinhaltung der Schuldenbremse

Feld, Lars P.; Nöh, Lukas; Reuter, Wolf Heinrich; … - 2021

Die Wiedereinhaltung der Schuldenbremse auf der Bundesebene macht in den kommenden Jahren eine Reduktion der im Rahmen … Vergleich mit der maximal zulässigen Nettokreditaufnahme unter der Schuldenbremse dar. Diese Spielräume erhöhen sich … führen, helfen, die Spielräume durch die Konjunkturkomponente der Schuldenbremse verlässlicher zu bestimmen. Einschränkend …

Persistent link: https://www.econbiz.de/10012515050

Von der Corona-bedingten Schuldenaufnahme zur Wiedereinhaltung der Schuldenbremse

Feld, Lars P.; Nöh, Lukas; Reuter, Wolf Heinrich; … - 2021

Persistent link: https://www.econbiz.de/10012516193

Fiscal policy options in light of recent IMF research

Allen, Mark - 2011

The financial crisis and recession have left a legacy of unusually large fiscal deficits and growing sovereign debt levels in most advanced economies. The paper uses recent research from the IMF to throw light on two questions: how much fiscal space is available to advanced countries before they...

Persistent link: https://www.econbiz.de/10008797500

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies within the current EU fiscal framework

Truger, Achim - 2015

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

Persistent link: https://www.econbiz.de/10010511177

Fiscal consolidation policies in the context of Italy's two recessions

Figari, Francesco; Fiorio, Carlo V. - 2015

The Italian Great Recession has a double-dip pattern. After the start of the global financial crisis, Italy experienced a second serious recession in 2011 because of the sovereign debt crisis. The reaction of Italian governments was mild at the beginning and more convinced since the start of the...

Persistent link: https://www.econbiz.de/10011284961

An investment initiative for fiscally constrained EU member states : the role of synergetic financial instruments

Zeilbeck, Severin - 2015

The economy of the European Union has not recovered from the impact of the economic and financial crisis. Growth rates remain low and investment activity is weak. This questions current economic policies of the Economic and Monetary Union, known as austerity. In opposition to fiscal contraction...

Persistent link: https://www.econbiz.de/10011380141

Fiscal consolidation strategy

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...

Persistent link: https://www.econbiz.de/10009622444