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Das konjunkturelle Verhalten der Staatsausgaben für Gesundheit und Soziales in Österreich und Deutschland : wie robust ist die OECD-Methodik?

Arsenev, Aleksandr; Heimberger, Philipp; Schütz, Bernhard - 2024

Ausgabenelastizitäten messen die Reaktion der verschiedenen Komponenten der Staatsausgaben auf den Konjunkturzyklus … der Europäischen Kommission verwendeten Schätzmethode zur Ermittlung der Elastizitäten der Staatsausgaben für Österreich … auf kleine Abweichungen bei den Daten und der Modellspezifikation reagieren. Weiters finden wir, dass die Sozialausgaben …

Persistent link: https://www.econbiz.de/10014478259

The cyclical behaviour of government spending for social protection : is the OECD methodology robust?

Arsenev, Aleksandr; Heimberger, Philipp; Schütz, Bernhard - 2023

Spending elasticities measure the reaction of different government spending components to the business cycle. They are important inputs for fiscal forecasts, and they are particularly relevant in the context of European Union (EU) fiscal rules, as elasticity estimates enter the estimation of...

Persistent link: https://www.econbiz.de/10014445966

A Dynamic Definition of the Structural Budget Deficit

Larson, Sven R. - 2014

The debate over legal requirements of a balanced federal budget has gained new life. A requirement would have strong implications for future fiscal policy. Done right, a requirement will allow Congress to combine a balanced budget with policy goals such as growth and full employment. Done wrong,...

Persistent link: https://www.econbiz.de/10013040528

Functional finance : a comparison of the evolution of the positions of Hyman Minsky and Abba Lerner

Wray, L. Randall - 2018

This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It argues that the main principles of functional finance were relatively widely held in the immediate postwar period. However, with the rise of the Phillips curve, the return of the...

Persistent link: https://www.econbiz.de/10011794285

The relation between budget deficits and growth : complicated but clear

Wray, L. Randall; Lin, Eric - 2024

This paper looks at the relationship between government budget deficits and the growth rate of GDP. While orthodox economic theory offers several reasons to believe that growing deficits might be associated with slower growth, and would ultimately be unsustainable, Keynesians assert that...

Persistent link: https://www.econbiz.de/10015069505

A Model-Based Fiscal Taylor Rule and a Toolkit to Assess the Fiscal Stance

Fournier, Jean-Marc - 2020

This paper presents a model-based fiscal Taylor rule and a toolkit to assess the fiscal stance, defined as the change in the structural primary balance. This is built on the normative buffer-stock model of the government (Fournier, 2019) which includes key channels like hysteresis,...

Persistent link: https://www.econbiz.de/10012839319

The Fiscal Stance in Japan : A Model-Based Analysis

Fournier, Jean-Marc; Hisanaga, Takuma; Nguyen, Anh D.M - 2022

This paper assesses Japan’s fiscal stance in the past and the future with a stochastic structural model called the Buffer-Stock Model of the Government. Our retrospective analysis suggests that the fiscal stance in the 1990s and the early 2000s was overall looser than the model...

Persistent link: https://www.econbiz.de/10014077412

The role of automatic stabilizers in business cycle : the case of Indonesia

Kuncoro, Haryo - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 167-184

The use of large fiscal stimulus packages to dampen the impact of Covid-19 recently has raised concerns about the effectiveness of the discretionary fiscal policy. This paper aims at analysing the feasibility of automatic fiscal stabilisers to mitigate economic fluctuations in the case of...

Persistent link: https://www.econbiz.de/10013174018

A medium-sized, open-economy, fiscal DSGE model of South Africa

Kemp, Johannes Hermanus; Hollander, Hylton - 2020

Much of the research on fiscal multipliers has used reduced form modelling approaches. While these models have been extended to include richer controls and identification approaches, it remains unclear whether shocks identified capture the true structural shocks. An alternative way to identify...

Persistent link: https://www.econbiz.de/10012241962

Making the Euro viable : the Euro treasury plan

Bibow, Jörg - 2015

The euro crisis remains unresolved and the euro currency union incomplete and extraordinarily vulnerable. The euro regime’s essential flaw and ultimate source of vulnerability is the decoupling of central bank and treasury institutions in the euro currency union. We propose a “Euro...

Persistent link: https://www.econbiz.de/10011309515

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