This paper empirically analyses fiscal policy behavior in the European Union (EU) Member States and assesses how it has changed during the recent pandemic crisis compared to previous crisis situations. Based on panel estimations the outcomes reveal that this time is different, both concerning...

This paper empirically studies public debt sustainability with the penalized panel splines approach for 25 EU economies from 2000 to 2019 by estimating the response of the primary surplus to lagged debt relative to GDP, respectively. A positive coefficient on average indicates sustainable...

This paper studies fiscal policy behavior with regard to sustainability for the group of the eight eastern new member states (NMS) which joined the European Union (EU) in 2004. Using the approach of Bohn (1995, 1998) the fiscal reaction function is estimated for the years 1995 until 2013....

In this paper we empirically study the relation between public debt and economic growth. We analyze how the public debt to GDP ratio at a certain point in time is correlated with the GDP growth rate in the following period, where we consider a one-year time span, a three-years time interval and...

This paper empirically studies non-linearities in debt sustainability analysis by resorting to the modern estimation technique of panel smooth transition regression (PSTR). We assess euro area debt sustainability by analysing the reaction of the primary balance to changes in public debt,...

This paper empirically studies the role of financial development in the fiscal response function by distinguishing high and low financial development regimes based on a data driven selection mechanism and investigating two groups of economies, European Union (EU) members and OECD countries from...

This paper empirically studies the role of financial development in the fiscal response function by distinguishing high and low financial development regimes based on a data driven selection mechanism and investigating two groups of economies, European Union (EU) members and OECD countries from...

This paper empirically analyses fiscal policy behavior in the European Union (EU) Member States and assesses how it has changed during the recent pandemic crisis compared to previous crisis situations. Based on panel estimations the outcomes reveal that this time is different, both concerning...

There is no clear-cut evidence on how the adoption of the European fi scal standards influences discretionary fi scal policies within the Member States. This study investigates that phenomenon on the example of the 2004 enlargement. The results show that the e ffects of the adoption of EU fiscal...