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Getting Back on Track: Restoring Fiscal Sustainability in Ireland
Haugh, David - Economics Department, Organisation de Coopération et … - 2011
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...
Persistent link: https://www.econbiz.de/10009364451
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The Political Economy of Fiscal Consolidation
Price, Robert W. - 2010
This paper explores the political economy of fiscal adjustment. It begins with an examination of the evidence for, and sources of, ‘deficit bias’, including political and governance factors, public attitudes, the role of financial markets and imprecision about which debt targets should be...
Persistent link: https://www.econbiz.de/10012446110
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Constraints and demands on public finances: Considerations of resilient fiscal policy
Rawdanowicz, Łukasz - 2021
Over the past several decades, public debt has increased substantially in many OECD countries, particularly in the aftermath of recessions. The extent of this increase and the resulting debt levels varied across countries, partly reflecting differences in average budget balances. Despite rising...
Persistent link: https://www.econbiz.de/10012801149
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The Political Economy of Fiscal Consolidation
Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2010
This paper explores the political economy of fiscal adjustment. It begins with an examination of the evidence for, and sources of, ‘deficit bias’, including political and governance factors, public attitudes, the role of financial markets and imprecision about which debt targets should be...
Persistent link: https://www.econbiz.de/10008587587
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The Fiscal Challenge in Portugal
Guichard, Stéphanie - 2006
Portugal’s fiscal policy has failed to durably reduce the deficit below the Stability and Growth Pact threshold of 3 … describes fiscal developments in Portugal over the past years and explores why earlier attempts of fiscal consolidation have …. The new consolidation strategy is not relying on one-off measures in a context where Portugal has been granted more time …
Persistent link: https://www.econbiz.de/10012444186
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What Promotes Fiscal Consolidation : OECD Country Experiences
Guichard, Stéphanie; Kennedy, Mike; Wurzel, Eckhard; … - 2007
Fiscal consolidation is required in most OECD countries. This is especially so in view of mediumand long-term spending pressures on public finances, related, inter alia, to ageing. Based on a dataset covering a large number of OECD fiscal consolidation episodes starting in the late 1970s, the...
Persistent link: https://www.econbiz.de/10012445792
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The Fiscal Challenge in Portugal
Guichard, Stéphanie; Leibfritz, Willi - Economics Department, Organisation de Coopération et … - 2006
Portugal’s fiscal policy has failed to durably reduce the deficit below the Stability and Growth Pact threshold of 3 … describes fiscal developments in Portugal over the past years and explores why earlier attempts of fiscal consolidation have …. The new consolidation strategy is not relying on one-off measures in a context where Portugal has been granted more time …
Persistent link: https://www.econbiz.de/10005045607
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Nothing Ventured, Nothing Gained : The Long-Run Fiscal Reward of Structural Reforms
Höller, Peter - 2006
The recent reform of the Stability and Growth Pact provides more leeway for EU governments to temporarily breach the 3% deficit limit if this facilitates the implementation of initially expensive reforms. But the implementation of this principle is not obvious as budgets would need to specify...
Persistent link: https://www.econbiz.de/10012442916
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Estimating a Fiscal Reaction Function : The Case of Debt Sustainability in Brazil
de Mello, Luiz - 2005
This paper reviews recent trends in fiscal performance in Brazil, estimates fiscal reaction functions for the consolidated public sector and different levels of government, and tests for the sustainability of the public debt dynamics. The empirical analysis, based on monthly data for the period...
Persistent link: https://www.econbiz.de/10012445160
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Nothing Ventured, Nothing Gained: The Long-Run Fiscal Reward of Structural Reforms
Hoeller, Peter; Giorno, Claude - Economics Department, Organisation de Coopération et … - 2006
The recent reform of the Stability and Growth Pact provides more leeway for EU governments to temporarily breach the 3% deficit limit if this facilitates the implementation of initially expensive reforms. But the implementation of this principle is not obvious as budgets would need to specify...
Persistent link: https://www.econbiz.de/10005046157