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The benefits of fiscal consolidation in uncharted waters
Rother, Philipp; Schuknecht, Ludger; Stark, Jürgen - 2010
This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the …
Persistent link: https://www.econbiz.de/10011606273
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The size and composition of government debt in the euro area
Lojsch, Dagmar Hartwig; Rodríguez-Vives, Marta; … - 2011
This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...
Persistent link: https://www.econbiz.de/10011606284
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The Stability and Growth Pact - crisis and reform
Schuknecht, Ludger; Moutot, Philippe; Rother, Philipp; … - 2011
The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances, while the Stability and Growth Pact was watered...
Persistent link: https://www.econbiz.de/10011606281
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The reform and implementation of the Stability and Growth Pact
Morris, Richard; Ongena, Hedwig; Schuknecht, Ludger - 2006
provisions of the revised SGP be rigorously implemented in order to ensure fiscal sustainability. …
Persistent link: https://www.econbiz.de/10011606199
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Debt sustainability analysis for euro area sovereigns: A methodological framework
Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017
sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …
Persistent link: https://www.econbiz.de/10011661911
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Government debt management in the euro area - recent theoretical developments and changes in practices
Wolswijk, Guido; de Haan, Jakob - 2005
This paper reviews recent developments in the management of government debt in the euro area, covering both theoretical and practical aspects. It focuses on key aspects of debt management; the objectives of debt management, its organisation, the maturity of debt, inflation-indexation,...
Persistent link: https://www.econbiz.de/10011606177
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The evolution of clearing and central counterparty services for exchange-traded derivatives in the United States and Europe - a comparison
Russo, Daniela; Hart, Terry L.; Schönenberger, Andreas - 2002
of direct concern to central banks and why a comparison of the European and the US situation is of interest. Section 2 …
Persistent link: https://www.econbiz.de/10011606157
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The institutional framework for financial market policy in the USA seen from an EU perspective
Petschnigg, Reinhard - 2005
The paper takes a closer look at the institutional set-up of financial markets in the United States of America and investigates whether the US can serve as a model for the EU. The overall conclusion is that the US institutional set-up as a whole does not seem to be a suitable benchmark for the...
Persistent link: https://www.econbiz.de/10011606187
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Labour productivity developments in the euro area
Gomez-Salvador, Ramon; Musso, Alberto; Stocker, Marc; … - 2006
-1990s. These developments were broadly experienced by most euro area countries. A comparison with developments in the US …
Persistent link: https://www.econbiz.de/10011606205
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The ECB survey of professional forecasters (SPF) – A review after eight years’ experience
Bowles, Carlos; Friz, Roberta; Genre, Veronique; Kenny, … - 2007
forecasters, the SPF systematically under-forecast inflation but that there is less evidence of such systematic errors for GDP and … analysis. Second, we consider SPF respondents’ assessment of forecast uncertainty using information from heir probability …
Persistent link: https://www.econbiz.de/10011606211