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Budgetary constrained governments : drivers of time varying fiscal sustainability in OECD countries
Afonso, António; Coelho, José Carlos - 2024
We assess the drivers of fiscal sustainability in 20 OECD economies between 1950 and 2019. We find stable long … interest rate and the real GDP growth rate (r-g) plays a crucial role in fiscal sustainability, as well as the existence of … fiscal rules on sustainability coefficients à la Hakkio and Rush (1991) and Bohn (1998) are heterogenous. Furthermore, before …
Persistent link: https://www.econbiz.de/10014543858
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Drivers of fiscal sustainability : a time-varying analysis for Portugal
Afonso, António; Coelho, José Carlos - 2023
We assess the drivers of fiscal sustainability in Portugal during the period 1999Q4-2021Q4. We resort to expanding … maturity were beneficial for fiscal sustainability. Sovereign debt rating downgrades implied a posterior fiscal reaction that … improves fiscal sustainability. Moreover, fiscal sustainability increased during the implementation of the international …
Persistent link: https://www.econbiz.de/10014391313
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Fiscal transfers and fiscal sustainability
Potrafke, Niklas; Reischmann, Markus - 2014
We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...
Persistent link: https://www.econbiz.de/10010260027
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Convergence to EMU Through the Test of the Public Finance – Romania’s Budgetary Deficit and Public Debt
Susanu, Monica - 2013
The convergence criteria group together those macro variables whose dimensions mean to put in good use, to potentiate and to strengthen the major benefits of integration, as their configuration, either before and especially after the adhesion in EU, represents strict and compulsory requirements...
Persistent link: https://www.econbiz.de/10013085231
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Theoretical and practical approaches to fiscal consolidation : the experience of Romania
Leonida, Ionel - In: Financial studies 22 (2018) 2, pp. 65-76
the European fiscal framework, to which Romania has also joined. The proposed approach on the issue of fiscal …, the progress registered in Romania based on a set of specific indicators will be presented and evaluated. From a …
Persistent link: https://www.econbiz.de/10011964952
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Fiscal Transfers and Fiscal Sustainability
Potrafke, Niklas - 2014
We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...
Persistent link: https://www.econbiz.de/10013055378
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Fiscal risk and its drivers : an empirical analysis
Panizza, Ugo - 2020
This paper describes and quantifies fiscal risk in advanced and developing economies. Forecast errors in GDP growth explain nearly half of fiscal risk in advanced economies. However, errors in growth forecasts are less important in explaining fiscal risk in low- and middle-income countries. Most...
Persistent link: https://www.econbiz.de/10012392426
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China’s Fiscal Sustainability : A Comment
Ciuriak, Dan - 2013
manageable on-balance sheet debt. Its fiscal challenges are usually seen as one of debt sustainability, with the main fear factor … longer term, unfunded pensions. Sustainability of government debt is perhaps the ultimate test the viability of an economic …
Persistent link: https://www.econbiz.de/10013095093
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(Un-)Sustinability of public finances in German Laender : a panel time series approach
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2015
This paper provides evidence that most German states (Laender) have unsustainable public finances by exploiting a newly compiled database covering the years 1950‐2011. Although the Laender are closely intertwined we are the first to apply “second generation” panel techniques that control...
Persistent link: https://www.econbiz.de/10011404634
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Fiscal Sustainability Across Government Tiers
Claeys, Peter - 2011
consolidation. We test sustainability of public debt with a fiscal rule for both the federal and regional government. Results for …
Persistent link: https://www.econbiz.de/10013124925