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Returning to Surplus: New Zealand's Post-GFC Fiscal Consolidation Experience
Bose, Dhritidyuti; Philip, Renee; Sullivan, Richard - 2016
New Zealand's fiscal outlook deteriorated following the Global Financial Crisis, and in late 2008 fiscal projections showed net government debt in New Zealand increasing from 5% of GDP to around 40% within 10 years, mostly reflecting permanently lower expectations for future tax revenue. These...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10012115711
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Fiscal policy and rebalancing in the Euro area : a critique of the German debt brake from a Post-Keynesian perspective
Hein, Eckhard; Truger, Achim - 2013
The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010187671
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How to achieve and sustain fiscal discipline in Turkey : rising Taxes, reducing government spending or a combination of both?
Kaya, Ayşe; Şen, Hüseyin - In: Romanian journal of fiscal policy : RJFP 4 (2013) 1, pp. 1-26
The main purpose of this paper is to investigate the relationship between tax revenue and government spending in order to make some policy suggestions on how to achieve fiscal discipline in Turkey. We have used the cointegrated vector autoregression (VAR) method along with the Granger causality...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010480260
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Deficit policy within the framework of the stability and growth pact : empirical results and lessons for the fiscal compact
Afflatet, Nicolas - 2016
This paper examines the question whether joining EMU or the breach of the Stability and Growth Pact in 2003 had an … having joined EMU or after having breached the Pact in 2003. These results can be explained with the fact that the Pact was …
Persistent link: https://ebvufind01.dmz1.zbw.eu/10011488439
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Inflation dynamics under fiscal deficit regime switching in Mexico
Ramos-Francia, Manuel; García-Verdú, Santiago; … - 2018
We explore the dynamics of inflation, inflation expectations, and seigniorage-financed fiscal deficits in Mexico. To do so, we estimate the model in Sargent, Williams, and Zha (2009) using Mexican CPI inflation data. This model features dual expected inflation equilibriums and regime switching...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10012165948
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Economic stabilisation and performance in West Africa : the role of fiscal and monetary policy
Mesagan, Ekundayo P.; Yusuf, Ismaila A. - 2019
The study examines the impact of fiscal and monetary policy on economic performance and stabilisation in Nigeria … proxy economic performance and economic stabilisation respectively while fiscal policy is captured with deficit finance and … confirms that monetary policy significantly drives economic stabilisation in Nigeria and the Gambia, but insignificantly in …
Persistent link: https://ebvufind01.dmz1.zbw.eu/10012137607
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A new fiscal policy for Germany
Sigl-Gloeckner, Philippa; Krahé, Max; Schneemelcher, Pola - 2021
The sustainability of public finances should be measured by the debt-to-GDP ratio; the debt-to-GDP ratio is best controlled by keeping the deficit in check. For decades, these ideas shaped German fiscal policy. In 2009, with the introduction of the debt brake, this approach found its way into...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014459443
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Fiscal consolidation strategy
Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012
In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010311794
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How to achieve and sustain fiscal discipline in Turkey: Rising Taxes, reducing government spending or a combination of both?
Kaya, Ayşe; Şen, Hüseyin - In: Romanian Journal of Fiscal Policy (RJFP) 4 (2013) 1, pp. 1-26
The main purpose of this paper is to investigate the relationship between tax revenue and government spending in order to make some policy suggestions on how to achieve fiscal discipline in Turkey. We have used the cointegrated vector autoregression (VAR) method along with the Granger causality...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010491481
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Fiscal policy and rebalancing in the Euro area: A critique of the German debt brake from a Post-Keynesian perspective
Hein, Eckhard; Truger, Achim - 2013
The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010513067