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This article focuses on financing the necessary public expenditures to address the challenge of climate change faced by human societies, specifically examining the choice of public debt. Considering the already significant levels of public debt worldwide, this decision becomes particularly...
Persistent link: https://www.econbiz.de/10015419559
's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that … instrumenting the probability of having budget rules on de jure constraints on changing the constitution. This and other tests …
Persistent link: https://www.econbiz.de/10011474674
's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that … instrumenting the probability of having budget rules on de jure constraints on changing the constitution. This and other tests …
Persistent link: https://www.econbiz.de/10011454137
's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that … instrumenting the probability of having budget rules on de jure constraints on changing the constitution. This and other tests …
Persistent link: https://www.econbiz.de/10011778130
's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that … instrumenting the probability of having budget rules on de jure constraints on changing the constitution. This and other tests …
Persistent link: https://www.econbiz.de/10011576968
This paper presents a comprehensive framework examining fiscal sustainabil- ity in developing economies. It integrates public capital, labor informality, and global liquidity shocks in a two-sector DSGE model for a small open economy, revealing their intricate interplay and nonlinear impact on...
Persistent link: https://www.econbiz.de/10014546231
Persistent link: https://www.econbiz.de/10009726250
nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in … associated with them, would have (i) stimulated expenditure more than a taxation rebate to the said firms and (ii) facilitated … taxation credit certificates endowed with a further reduction in taxation conditional on their use for consumption, termed …
Persistent link: https://www.econbiz.de/10015076228
We extend previous work on the sustainability of the government's intertemporal budget constraint by allowing for non-linear adjustment of the fiscal variables, conditional on the sign of budgetary disequilibria and the phase of the economic cycle. Further, our endogenously estimated threshold...
Persistent link: https://www.econbiz.de/10013065030
We extend previous work on the sustainability of the government's intertemporal budget constraint by allowing for non-linear adjustment of the fiscal variables, conditional on (i) the sign of budgetary disequilibria and (ii) the phase of the economic cycle. Further, our endogenously estimated...
Persistent link: https://www.econbiz.de/10009683459