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The role of fiscal transfers for regional economic convergence in Europe

Checherita-Westphal, Cristina; Nickel, Christiane; … - 2009

-capita output convergence across a large sample of European regions during the period 1995-2005. We find that net fiscal transfers …. -- Fiscal policy, convergence ; regional economic growth ; regional migration …

Persistent link: https://www.econbiz.de/10003832335

Fiscal transfers and economic convergence

Capella-Ramos, João; Checherita-Westphal, Cristina; … - 2020

Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of … transfers in real and business cycle convergence at a regional level. The paper distinguishes between net fiscal transfers - a … provides evidence that net fiscal transfers have contributed to income redistribution across regions and to faster convergence …

Persistent link: https://www.econbiz.de/10012521156

Fiscal transfers and economic convergence

Capella-Ramos, João; Checherita-Westphal, Cristina; … - 2020

Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of … transfers in real and business cycle convergence at a regional level. The paper distinguishes between net fiscal transfers – a … provides evidence that net fiscal transfers have contributed to income redistribution across regions and to faster convergence …

Persistent link: https://www.econbiz.de/10012319164

Debt sustainability analysis for euro area sovereigns: A methodological framework

Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017

The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...

Persistent link: https://www.econbiz.de/10011661911

Public wage and pension indexation in the euro area: An overview

Checherita-Westphal, Cristina (contributor) - 2022

If the responses of wages - both private and public - and of pensions to an increase in inflation lead to second-round effects, this can make an inflationary shock more persistent, especially in the presence of automatic wage and pension indexation. This occasional paper presents an overview of...

Persistent link: https://www.econbiz.de/10013480188

Fiscal reaction function and fiscal fatigue : evidence for the euro area

Checherita-Westphal, Cristina; Žďárek, Václav - 2017

This paper estimates a fiscal reaction function (FRF) framework for euro area countries and derives a novel approach to measure fiscal fatigue. As in previous studies, we find evidence that euro area sovereigns abide, on average, by (weak) sustainability constraints. The primary balance improves...

Persistent link: https://www.econbiz.de/10011637036

The impact of high and growing government debt on economic growth : an empirical investigation for the euro area

Checherita-Westphal, Cristina; Rother, Philipp C. - 2010

This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...

Persistent link: https://www.econbiz.de/10008657130

What explains the surge in euro area sovereign spreads during the financial crisis of 2007 - 09?

Attinasi, Maria-Grazia; Checherita-Westphal, Cristina; … - 2009

This paper uses a dynamic panel approach to explain the determinants of widening sovereign bond yield spreads vis-à-vis Germany in selected euro area countries during the period end-July 2007 to end-March 2009, when the financial turmoil developed into a full-blown financial and economic...

Persistent link: https://www.econbiz.de/10003969288

Household saving and fiscal policy : evidence for the euro area from a thick modelling perspective

Checherita-Westphal, Cristina; Stecher, Marcel - 2021

We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999-2019. To this extent, we propose a thick modelling approach, which allows a vast number of model specifications in a dynamic panel setting. We find that fiscal expansions are...

Persistent link: https://www.econbiz.de/10012745340

Interest rate-growth differentials on government debt : an empirical investigation for the euro area

Checherita-Westphal, Cristina; Domingues Semeano, João - 2020

Persistent link: https://www.econbiz.de/10012306620