Search Results - subject:"Fiscal reaction function"

Fiscal Sustainability and the Fiscal Reaction Function for South Africa

Jooste, Charl; Cuevas, Alfredo; Stuart, Ian C.; Burger, … - International Monetary Fund (IMF) - 2011

How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has...

Persistent link: https://www.econbiz.de/10009019588

Identifying Fiscal Policy Transmission in Stochastic Debt Forecasts

Kawakami, Kei; Romeu, Rafael - International Monetary Fund (IMF) - 2011

A stochastic debt forecasting framework is presented where projected debt distributions reflect both the joint realization of the fiscal policy reaction to contemporaneous stochastic macroeconomic projections, and also the second-round effects of fiscal policy on macroeconomic projections. The...

Persistent link: https://www.econbiz.de/10009019604

Israel; 2010 Article IV Consultationâ€”Staff Report; Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2011

Israel was mildly affected by the global recession: following a slowdown in 2009, output is projected to grow by some 4 percent in 2010, led by consumption and exports. Robust fundamentalsâ€”including sustained pre-crisis fiscal consolidationâ€”and a swift monetary and fiscal policy...

Persistent link: https://www.econbiz.de/10011242572

Chapter 32. What is a Sustainable Public Debt?

D’Erasmo, P.; Mendoza, E.G.; Zhang, J. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2493-2597). 2016

framework based on a fiscal reaction function that characterizes the dynamics of sustainable debt and primary balances. The …

Persistent link: https://www.econbiz.de/10014024281

The European debt crisis and fiscal reactions in Europe 2000-2014

Baldi, Guido; Stæhr, Karsten - In: International economics and economic policy : IEEP 13 (2016) 2, pp. 297-317

Persistent link: https://www.econbiz.de/10011486633

Spend-and-tax adjustments and the sustainability of the government's intertemporal budget constraint

Legrenzi, Gabriella Deborah; Milas, Costas - 2010

We apply non-linear error-correction models to the empirical testing of the sustainability of the government's intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its intertemporal budget constraint, in spite of the high levels of...

Persistent link: https://www.econbiz.de/10010266076

Economic policy and output volatility in Spain, 1950 - 1998: Was fiscal policy destabilizing?

Battilossi, Stefano; Escario, Regina; Foreman-Peck, James - 2010

Was Spanish fiscal policy destabilizing? We estimate policy reaction functions and test the impact of fiscal shocks on growth volatility over the period 19501998. We find that a transition from pro-cyclical to countercyclical fiscal policy occurred in the late years of the Franco regime,...

Persistent link: https://www.econbiz.de/10010288816

Fiscal Space

Kim, Jun Il; Ghosh, Atish R.; Qureshi, Mahvash Saeed; … - International Monetary Fund (IMF) - 2010

In this note, the authors reexamine the issue of debt sustainability in a large group of advanced economies. Their hypothesis is that, when debt is in a moderate range, its dynamics are sustainable in the sense that increases in debt elicit sufficient increases in primary fiscal balances to...

Persistent link: https://www.econbiz.de/10011142212

Economic Policy and Output Volatility in Spain, 1950-1998: Was Fiscal Policy Destabilizing?

Battilossi, Stefano; foreman-peck, james s.; Escario, Regina - Economics Section, Cardiff Business School - 2010

Was Spanish fiscal policy destabilizing? We estimate policy reaction functions and test the impact of fiscal shocks on growth volatility over the period 1950-1998. We find that a transition from pro-cyclical to countercyclical fiscal policy occurred in the late years of the Franco regime,...

Persistent link: https://www.econbiz.de/10008526677

Fiscal Policy Reaction in the Short Term for Assessing Fiscal Sustainability in the Long Runin Central and Eastern European Countries

Câmpeanu, Emilia; Stoian, Andreea - In: Czech Journal of Economics and Finance (Finance a uver) 60 (2010) 6, pp. 501-518

the fiscal reaction function are considered. The results show that for Bulgaria, Czech Republic, Estonia, Hungary, and … reaction function is used. Given the different orders of integration of the variables involved in the model, modified forms of … in the short term, in order to assess fiscal sustainability in the long run. For the purpose of this study, a fiscal …

Persistent link: https://www.econbiz.de/10008876449