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The Rise and Fall of the Norm of Budget Balance - Seeking a Budgetary Logic Behind Federal Budget Deficits

Hou, Yilin - 2007

Deficits and debts are very complex issues for eternal public debate. The norm of budget balance - whether as a value judgment or ideal, as a political symbol or as a budgetary principle - often appears in literature and public debate over federal budgetary and fiscal policies. This paper offers...

Persistent link: https://www.econbiz.de/10014222913

Governmental Accounting and Austerity Policies : Accounting Representations of Public Debt and Deficit in Europe and Abroad

Biondi, Yuri - 2016

This article provides a theoretical view on European Public Sector Accounting Standards (EPSAS), focusing on overarching accounting principles and models, as well as their consequences on the working and the very existence of public service activity. Our analysis applies to illustrative cases...

Persistent link: https://www.econbiz.de/10014159182

Fiscal Consolidation : Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?

Sutherland, Douglas - 2012

The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. In most countries, budget deficits soared as a result of the economic slump, weaker revenues and the policy response to the crisis. Consolidating the public finances is an important challenge...

Persistent link: https://www.econbiz.de/10013112305

Federal Budget Balance : Tonic or Toxin? Fiscal Irresponsibility: The Balanced Budget Amendment of "Contract with America"

Whalen, Charles J. - 1998

Continuous federal budget deficits and a rising public debt have been presented in terms that have produced mounting dissatisfaction with government. One solution offered to deal with this discontent has been a constitutional amendment to balance the federal budget. In a working paper, Charles...

Persistent link: https://www.econbiz.de/10014060400

Fiscal Adjustment and Debt Sustainability : Greece 2010-2016 and Beyond

Karavitis, Nicholas E. - 2022

This paper reviews the fiscal developments that led Greece from a successful convergence process and the adoption of the Euro to an unprecedented prolonged recession. Analysis of all fiscal aggregates reveals the policies behind the sovereign crisis, both on the expenditure and the revenue side....

Persistent link: https://www.econbiz.de/10014078158

An empirical study of public debt sustainability based on fiscal fatigue and fiscal space in CEMAC countries

Makala, Ulrich Ekouala - In: International studies of economics 17 (2022) 3, pp. 334-370

This paper seeks first to test whether there is evidence of fiscal fatigue in the Central Africa Economic and Monetary Community (CEMAC) countries. On the contrary, we want to investigate the impact of fiscal rules on fiscal space to see if the implementation of fiscal rules enhances fiscal...

Persistent link: https://www.econbiz.de/10013454409

Fiscal Sustainability : The Unpleasant European Case

Afonso, António - 2005

The sustainability of fiscal deficits has been receiving increasing attention. The issue is paramount for the newly formed euro area and this is one of the motivations of this paper. In order to assess the sustainability of budget deficits, co-integration tests between public expenditures and...

Persistent link: https://www.econbiz.de/10014065755

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

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