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Drivers of fiscal sustainability : a time-varying analysis for Portugal

Afonso, António; Coelho, José Carlos - 2023

We assess the drivers of fiscal sustainability in Portugal during the period 1999Q4-2021Q4. We resort to expanding window and Schlicht (2003, 2021)'s time-varying approaches to construct the responses of government revenues to government expenditures and the responses of the primary government...

Persistent link: https://www.econbiz.de/10014391313

Disciplining ballots? : (un-intended) effects of voter engagement on the fiscal sustainability of Swiss cantons

Bury, Yannick; Feld, Lars P.; Köhler, Ekkehard A. - 2023

We test whether the proactive use of instruments of direct democracy by voters can help to explain fiscal sustainability of 25 Swiss cantons. Using data of all cantonal popular votes since 1977, our results show that the fiscal reaction of cantonal governments to an increase in the debt to GDP...

Persistent link: https://www.econbiz.de/10014427600

Role of finance in Dixit-Stiglitz-Krugman model of international trade

Marjit, Sugata; Dutta, Meghna; Roy, Moushakhi - 2022

This paper introduces finance or credit in the Dixit-Stiglitz-Krugman (DSK) model of international trade. It identifies … mechanisms by which finance can affect the main results of the conventional model. The key results are as follows. Perfect credit … output per variety. Thus, availability of finance will determine a specific trade pattern between richer and poorer nations …

Persistent link: https://www.econbiz.de/10013262745

Proprietary public finance : on its emergence and evolution out of anarchy

Skaperdas, Stergios - 2011

finance, however, is comparatively scarce. I argue that proprietary rule emerges out of anarchy and its main alternative …

Persistent link: https://www.econbiz.de/10009153844

The Swedish fiscal policy council : watchdog with a broad remit

Calmfors, Lars - 2012

The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...

Persistent link: https://www.econbiz.de/10009488889

What should fiscal councils do?

Calmfors, Lars; Wren-Lewis, Simon - 2011

The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...

Persistent link: https://www.econbiz.de/10009011182

Fiscal transfers and fiscal sustainability

Potrafke, Niklas; Reischmann, Markus Josef - 2014

We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...

Persistent link: https://www.econbiz.de/10010260027

Fiscal autonomy and fiscal sustainability : subnational taxation and public indebtedness in contemporary Spain

Larin, Benjamin; Süssmuth, Bernd - 2014

This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...

Persistent link: https://www.econbiz.de/10010337588

Social planning and economic coercion

Hintermann, Beat; Rutherford, Thomas F. - 2014

We develop a theory of social planning with a concern for economic coercion, which we define as the difference between consumers' actual utility, and the "counterfactual" utility they expect to obtain if they were able to set policy themselves. Reasons to limit economic coercion include...

Persistent link: https://www.econbiz.de/10010426057

Panel cointegration tests on the fiscal sustainability of German Laender

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014

This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying "gsecond generation" panel cointegration...

Persistent link: https://www.econbiz.de/10010388585