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Portugal - Solid Foundations for a Sustainable Fiscal Consolidation

Haugh, David; Sorbe, Stéphane - Economics Department, Organisation de Coopération et … - 2012

Owing to slow growth and a relatively weak fiscal position, Portugal’s public debt had been rising for almost a decade when the global crisis struck, sharply increasing the deficit. The loss of confidence in Portuguese and other euro area sovereign bonds required international financial...

Persistent link: https://www.econbiz.de/10011277000

Preparing for Euro Adoption in Poland

Kierzenkowski, Rafal - Economics Department, Organisation de Coopération et … - 2010

real and nominal convergence remains largely incomplete, which requires a substantial strengthening of alternative …, euro adoption should speed up the convergence process. This Working Paper relates to the 2010 OECD Economic Survey of …'autant plus cruciales à l'approche de l'adoption de la monnaie unique que le processus de convergence réelle et nominale reste …

Persistent link: https://www.econbiz.de/10008461039

Getting Back on Track: Restoring Fiscal Sustainability in Ireland

Haugh, David - Economics Department, Organisation de Coopération et … - 2011

Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...

Persistent link: https://www.econbiz.de/10009364451

Fiscal Consolidation: Part 5. What Factors Determine the Success of Consolidation Efforts?

Molnar, Margit - Economics Department, Organisation de Coopération et … - 2012

The global economic and financial crisis exacerbated the need for fiscal consolidation in many OECD countries. Drawing lessons from past episodes of fiscal consolidation, this paper investigates the economic environments, political settings and policy measures conducive to fiscal consolidation...

Persistent link: https://www.econbiz.de/10009393768

Strengthening the Macroeconomic Policy Framework in South Africa

Lysenko, Tatiana; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2011

South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more space for flexibility in the face of...

Persistent link: https://www.econbiz.de/10008854030

Choosing the Pace of Fiscal Consolidation

Rawdanowicz, Łukasz - Economics Department, Organisation de Coopération et … - 2012

In many OECD countries debt has soared to levels threatening fiscal sustainability, necessitating its reduction over the medium to longer term. This paper uses stylised simulations in a small, calibrated macroeconomic model which features endogenous interactions between fiscal policy, growth and...

Persistent link: https://www.econbiz.de/10011276909

Enhancing the Effectiveness of Public Spending in Switzerland

Joumard, Isabelle; Giorno, Claude - Economics Department, Organisation de Coopération et … - 2002

Switzerland is a highly decentralised country with large spending and revenue-raising powers devolved to cantons and municipalities. The federal system, in combination with an extensive use of direct democracy, has contributed to keep public spending at a relatively low level in international...

Persistent link: https://www.econbiz.de/10005045784

Estimating a Fiscal Reaction Function: The Case of Debt Sustainability in Brazil

Mello, Luiz de - Economics Department, Organisation de Coopération et … - 2005

This paper reviews recent trends in fiscal performance in Brazil, estimates fiscal reaction functions for the consolidated public sector and different levels of government, and tests for the sustainability of the public debt dynamics. The empirical analysis, based on monthly data for the period...

Persistent link: https://www.econbiz.de/10005046037