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Persistent link: https://www.econbiz.de/10010370717
Most EU member states will adopt fiscal rules that refer to cyclically-adjusted borrowing limits. Under the standard cyclical adjustment procedure, trend increases in public debt based on cyclical components are prevented if the real-time output gaps used to calculate cyclical components balance...
Persistent link: https://www.econbiz.de/10010309617
Most EU member states adopt national fiscal rules that refer to cyclically adjusted borrowing limits. Yet, trend increases in public debt caused by the cyclical components are only prevented if the real-time output gaps used to calculate cyclical components balance over time. We analyze...
Persistent link: https://www.econbiz.de/10010903116
Most EU member states will adopt fiscal rules that refer to cyclically-adjusted borrowing limits. Under the standard cyclical adjustment procedure, trend increases in public debt based on cyclical components are prevented if the real-time output gaps used to calculate cyclical components balance...
Persistent link: https://www.econbiz.de/10010957098