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Impact of fiscal institutions on public finances in the European Union : review of evidence in the empirical literature

Gorčák, Martin; Šaroch, Stanislav - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 2, pp. 215-232

This paper examines the impact of budgetary institutions on public finances in the European Union on the basis of a critical survey of the relevant theoretical and empirical literature. In general, the authors find that fiscal institutions (namely fiscal rules) have successfully contributed to...

Persistent link: https://www.econbiz.de/10012598898

Survey-based structural budget balances

Göttert, Marcell; Wollmershäuser, Timo - 2021

The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods and their use for calculating structural budget balances. In this paper we review the main properties of the mainstream approaches and...

Persistent link: https://www.econbiz.de/10012438332

Survey-based structural budget balances

Göttert, Marcell; Wollmershäuser, Timo - 2021

Persistent link: https://www.econbiz.de/10012504787

The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

proposes the introduction of the traditional public finance golden rule into the EU/Eurozone fiscal framework (Stability and … (SWP) und Fiskalpakt(FP) der EU/Eurozone. Eine solche Regel würde die öffentlichen (Netto-)Investitionen in geeigneter … Finanzpolitik insgesamt größere Spielräume einräumen und die öffentlichen Investitionen als besonders wachstumsrelevante öffentliche …

Persistent link: https://www.econbiz.de/10011477456

Structural Fiscal Rule : A Better Discipline than a Fiscal Council

Coutino, Alfredo - 2018

In 2011 we recommended the application of a structural fiscal rule to the case of Mexico, given the country's repetitive inability to implement a genuine fiscal reform. At that time, we said that due to the absence of a fiscal reform that increases tax revenues significantly, Mexico needs to...

Persistent link: https://www.econbiz.de/10012932021

Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule

Jost, Thomas; Tödter, Karl-Heinz - 2021

Debt levels in the eurozone have reached new record highs. The member countries have tried to cushion the economic … as well as with the hypothetical application of the new fiscal rule to eurozone economies from 2022 to 2026. Finally, we … take up the recent proposal by ESM economists to increase the permissible debt ratio from 60 to 100% of GDP in the eurozone. …

Persistent link: https://www.econbiz.de/10012798538

Fiscal rules in economic crisis : the trade-off between consolidation and recovery, from a European perspective

Díaz Roldán, Carmen; Ferrari Filho, Fernando; Da … - In: Economics : the open-access, open-assessment journal 15 (2021) 1, pp. 199-216

In this study, we will perform a simulation exercise to investigate whether the use of explicit fiscal rules improves the macroeconomic performance in the economic framework of the European Union (EU), where the fall in income levels occurred very asymmetrically, and this has accentuated the...

Persistent link: https://www.econbiz.de/10013252537

Strengthening the post-crisis fiscal rules - the case of Spain, Slovakia and Sweden

Moździerz, Anna - 2014

The purpose of this article is to identify changes in the development of national fiscal rules in response to the crisis, in terms of the new economic governance in the EU. In-depth analysis was carried out on the example of the three countries that have the highest Fiscal Rule Strength Index,...

Persistent link: https://www.econbiz.de/10012002050

Fiscal policy and rebalancing in the Euro area : a critique of the German debt brake from a Post-Keynesian perspective

Hein, Eckhard; Truger, Achim - 2013

The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...

Persistent link: https://www.econbiz.de/10010187671

Estimating simple fiscal policy reaction functions for the euro area countries

Plödt, Martin; Boeing-Reicher, Claire - 2014

We formulate and estimate a simple fiscal policy reaction function for the euro area and individual euro area countries. Our reaction function allows for primary surpluses to feature three components: an anti-cyclical response of primary surpluses to the output gap, a response to the debt-GDP...

Persistent link: https://www.econbiz.de/10010235448

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