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Price Effects of Sovereign Debt Auctions in the Euro-zone: The Role of the Crisis

Beetsma, Roel; Giuliodori, Massimo; Jong, Frank de; … - Tinbergen Instituut - 2013

Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements...

Persistent link: https://www.econbiz.de/10011255665

Monetary Policy under a Fiscal Theory of Sovereign Default

Schabert, Andreas - Tinbergen Instituut - 2009

This paper examines equilibrium determination under different monetary policy regimes when the government might default on its debt. We apply a cash-in-advance model where the government does not have access to non-distortionary taxation and does not account for initial outstanding debt when it...

Persistent link: https://www.econbiz.de/10011256163

An assessment of debt sustainability in scenario of Pakistan’s debt burden

Ejaz, Khurram; Javid, Attiya Yasmin - Volkswirtschaftliche Fakultät, … - 2011

The objective of the study is to assess and analyze sustainability of overall public debt and sustainability of external debt of Pakistan using the debt dynamic equation for the period 1971-2008. The study has analyzed public debt sustainability through interest rate and growth rate differential...

Persistent link: https://www.econbiz.de/10011259292

Back to fiscal consolidation in Europe and its dual tradeoff : now or later, through spending cuts or tax hikes ?

Blot, Christophe; Creel, Jérôme; Ducoudre, Bruno; … - Sciences économiques, Sciences Po - 2015

The European consolidation process has raised a few questions. The most frequent one has been how large are the costs of consolidation and has the Eurozone fiscal stance improved or achieved debt sustainability? Second, do these costs and sustainability depend on the composition (tax vs....

Persistent link: https://www.econbiz.de/10011261235

Private and Public Debt

Izák, Vratilav - In: European Financial and Accounting Journal 2014 (2014) 1

In the paper we provide some empirical evidence of the development of private debt to GDP ratio in the sample of 18 EU Member States. We use detailed national accounts published regularly by the OECD-financial assets and liabilities by institutional sectors (flow of funds). The ratio of private...

Persistent link: https://www.econbiz.de/10011262845

High public debt in the euro area: still a fact

Stoian, Andreea; Alves, Rui Henrique - Volkswirtschaftliche Fakultät, … - 2014

In this paper, we investigate the issues regarding the stabilization of public debt and its decrease down to 60 per cent of GDP for selected European Union countries using the primary balance derived from the public debt dynamic model as a leading indicator. We find that there is a high...

Persistent link: https://www.econbiz.de/10011262861

Public debt and growth in German federal states: What can Europe learn?

Mitze, Timo; Matz, Florian - In: Journal of Policy Modeling 37 (2015) 2, pp. 208-228

While there is ample evidence on the linkage between public debt and economic growth for national economies, far fewer investigations have been carried out at the subnational level. In this paper, we therefore study the long- and short-term relationship between regional public debt intensities...

Persistent link: https://www.econbiz.de/10011264205

The Greek crisis effects on the Albanian economy

Durmishi, Veronika; Gjini, Valbona - In: Academicus International Scientific Journal (2011) 4, pp. 130-135

The study of the effects of the crisis of Greece has a special significance for two reasons: The first the large number … of Albanian immigrants in Greece, and second is the fact that Greek investments are in sectors of economy. The first part … of the analysis has to do with the effects of immigrants on the Greek crisis, collapse of economic growth in Greece …

Persistent link: https://www.econbiz.de/10011265184

Back to fiscal consolidation in Europe and its dual tradeoff : now of later, through spending cuts or tax hikes Abstract : The European consolidation process has raised a few quest...

Blot, Christophe; Creel, Jerôme; Ducoudré, Bruno; … - Centre de recherche en Économie (OFCE), Sciences … - 2015

Persistent link: https://www.econbiz.de/10011265825

The nexus between output fluctuations and fiscal deficits: empirical evidence on Ghana

Augustt, Rosemond Mahu; Adu, George; Frimpong, Prince Boakye - In: International Journal of Sustainable Economy 7 (2015) 2, pp. 100-117

Ghana is presently confronted with persistent budget deficits and burgeoning public debt in excess of 52% of GDP and frequent fluctuations in total output below its long-run trend. This is of great concern which has issues for the country's long term growth and debt sustainability. Though the...

Persistent link: https://www.econbiz.de/10011266441