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Local governments’ fiscal policy as a factor of urban development – evidence from Poland
Waśniewski, Krzysztof - Volkswirtschaftliche Fakultät, … - 2012
The paper explores the issue of urban development in the context of fiscal crisis. A model of municipal governance is introduced, explaining how social agents’ individual strategies shape the accumulation of debt by local governments. Empirical investigation, in a sample of big Polish cities,...
Persistent link: https://www.econbiz.de/10011258161
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An (Un)Pleasant Arithmetic of Fiscal Policy: the Case of Italian Public Debt
Marattin, Luigi; Marzo, Massimiliano - Volkswirtschaftliche Fakultät, … - 2008
Using the simple arithmetic of government budget constraint, we perform an analysis on the Italian case, investigating the consequences on the main public finance aggregates of the adoption of a fiscal policy rule responding to past real debt/GDP ratio. Such a rule, firmly grounded in the...
Persistent link: https://www.econbiz.de/10005260291
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Fiscal consolidation in the euro area: long-run benefits and short-run costs.
Coenen, Günter; Mohr, Matthias; Straub, Roland - European Central Bank - 2008
In this paper, we examine the macroeconomic effects of alternative fiscal consolidation policies in the New Area-Wide Model (NAWM), a two-country open-economy model of the euro area developed at the European Central Bank (cf. Coenen et al., 2007). We model fiscal consolidation as a permanent...
Persistent link: https://www.econbiz.de/10005530882
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An Evaluation of the Revenue side as a source of fiscal consolidation in high debt economies
Banerjee, Ritwik - Volkswirtschaftliche Fakultät, … - 2012
Unsustainable levels of debt for some European economies is causing enormous strain in the Euro area. How to tide over the debt crisis seems to be the most important objective the European policy makers are currently facing. We use a dynamic general equilibrium closed economy model to compute...
Persistent link: https://www.econbiz.de/10011258427
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An assessment of debt sustainability in scenario of Pakistan’s debt burden
Ejaz, Khurram; Javid, Attiya Yasmin - Volkswirtschaftliche Fakultät, … - 2011
The objective of the study is to assess and analyze sustainability of overall public debt and sustainability of … sustainability through interest rate and growth rate differential and level of primary budget balance while external debt … sustainability is assessed through interest rate on debt and growth rate of exports differential and current account balance. The …
Persistent link: https://www.econbiz.de/10011259292
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The Study of Public Debt. Which Are the Distinctions between the Emerging and Advanced Economies in the European Union?
Stoian, Andreea; Iorgulescu, Filip - Volkswirtschaftliche Fakultät, … - 2015
The aim of our paper is to provide a comprehensive study of public debt in various aspects across the European Union,emphasizing the existing distinctions between the emerging and advanced economies in Europe. Using annual data ranging from 1995 to 2013 we develop investigation manifold....
Persistent link: https://www.econbiz.de/10011262755
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - European Central Bank - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10008727402
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The Impact of Growing Public Debt on Economic Growth in the European Union
Mencinger, Jernej; Aristovnik, Aleksander; Verbic, Miroslav - Volkswirtschaftliche Fakultät, … - 2014
The paper attempts to empirically explore the transmission mechanism regarding the short-term impact of public debt and growth. We examine and evaluate the direct effect of higher indebtedness on economic growth for countries in the EU which are in the epicentre of the current sovereign debt...
Persistent link: https://www.econbiz.de/10011259697
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High public debt in the euro area: still a fact
Stoian, Andreea; Alves, Rui Henrique - Volkswirtschaftliche Fakultät, … - 2014
for fiscal sustainability and on implications for national and European fiscal policies. …
Persistent link: https://www.econbiz.de/10011262861
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Debt and growth: new evidence for the euro area
Baum, Anja; Checherita-Westphal, Cristina; Rother, Philipp - European Central Bank - 2012
sustainability in the euro area. Our empirical results suggest that the shortrun impact of debt on GDP growth is positive and highly …
Persistent link: https://www.econbiz.de/10010686872