Narrow search
Showing 1 - 10 of 730,343
Cover Image
Who Cares? Attitudes Towards Redistribution and Fiscal Austerity
Brown, Sarah; Kontonikas, Alexandros; Montagnoli, Alberto; … - 2021
We present new evidence showing that fiscal austerity strengthens support for redistribution, especially for the …: ‘altruism’ and ‘appreciation’. We test our theoretical model’s predictions by matching attitudes reported in the British Social … relatively well-off. Our theoretical model proposes two mechanisms to explain this heterogeneity in support for redistribution …
Persistent link: https://www.econbiz.de/10012799693
Cover Image
Who Cares? Attitudes Towards Redistribution and Fiscal Austerity
Brown, Sarah; Kontonikas, Alexandros; Montagnoli, Alberto; … - 2021
We present new evidence showing that fiscal austerity strengthens support for redistribution, especially for the …: ‘altruism’ and ‘appreciation’. We test our theoretical model’s predictions by matching attitudes reported in the British Social … relatively well-off. Our theoretical model proposes two mechanisms to explain this heterogeneity in support for redistribution …
Persistent link: https://www.econbiz.de/10013314696
Cover Image
Constraints or opportunities? : labor informality and public investment in shaping debt limits
Méndez-Vizcaíno, Juan Camilo; Moreno-Arias, Nicolás - 2023
This paper presents a comprehensive framework examining fiscal sustainabil- ity in developing economies. It integrates public capital, labor informality, and global liquidity shocks in a two-sector DSGE model for a small open economy, revealing their intricate interplay and nonlinear impact on...
Persistent link: https://www.econbiz.de/10014546231
Cover Image
Evaluating fiscal policy reforms using the fiscal frontier
Chen, Xiaoshan; Leith, Campbell B.; Ricci, Mattia - 2023
We develop a Fiscal Frontier which traces out the maximum government debt level that can be sustained at a given welfare cost. Through duality, the intertemporal policy mix underpinning the Frontier mirrors standard Ramsey policy and defines an upper limit on the welfare gains that can be...
Persistent link: https://www.econbiz.de/10014472253
Cover Image
Credibility and bias : the case for implementing both a debt anchor and a balanced budget rule
Castro-Valderrama, Marcela de; Moreno-Arias, Nicolás; … - 2023
Should a government have more than one fiscal rule constraining fiscal aggregates? If so, why? In this paper, we present a dynamic general equilibrium model of a small open economy featuring an incumbent government to assess how and why implementing a budget balance rule and a debt anchor rule...
Persistent link: https://www.econbiz.de/10014290466
Cover Image
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
Cover Image
Fiscal rules and economic cycles : quality (always) matters
Andrián, Leandro; Hirs-Garzón, Jorge; Urrea, Iván; … - 2023
Governments can issue public debt for both good and bad reasons. The former include intertemporal tax smoothing, fiscal stimulus, and asset management. In contrast, the bad reasons, which generate higher indebtedness, are mainly associated with political cycles, rent capture, intergenerational...
Persistent link: https://www.econbiz.de/10014480731
Cover Image
Public debt, secular stagnation and functional finance
Skott, Peter - 2015
effects of debt on growth. A second result relates directly to austerity policies. The level of government consumption and the … structure of taxation influence the required debt ratio and, paradoxically, austerity policies are counterproductive on their …
Persistent link: https://www.econbiz.de/10011522155
Cover Image
Aggregate demand, functional finance and secular stagnation
Skott, Peter - 2016
This paper makes three main points. Fiscal policy, first, may be needed in the long run to maintain full employment and avoid secular stagnation. If fiscal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government...
Persistent link: https://www.econbiz.de/10011522188
Cover Image
Fiscal austerity in ambiguous times
Ferrière, Axelle; Karantounias, Anastasios G. - 2016
generate optimal policies that resemble "austerity" measures. Optimal policy prescribes front-loaded fiscal consolidations and …
Persistent link: https://www.econbiz.de/10011446558