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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://www.econbiz.de/10012115711

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://www.econbiz.de/10011488439

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://www.econbiz.de/10012137607

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://www.econbiz.de/10010480260

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://www.econbiz.de/10010187671

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://www.econbiz.de/10012165948

Determinantes del déficit del sector público en Bolivia (1980-1987)

Requena, Juan Carlos; Huarachi, Gualberto; Barja, Gover; … - Volkswirtschaftliche Fakultät, … - 1989

Fiscal policy was key determinant of macroeconomic behavior during the 80s, however it is necessary to distinguish the effects of shocks over fiscal policy from those resulting of policy decisions. For that purpose the study uses, with an adjustment, the methodology developed by Marshall and...

Persistent link: https://www.econbiz.de/10008614994

"Fiscal Policy and Rebalancing in the Euro Area: A Critique of the German Debt Brake from a Post-Keynesian Perspective"

Hein, Eckhard; Truger, Achim - Levy Economics Institute - 2013

Persistent link: https://www.econbiz.de/10010697208

"A Meme for Money"

Wray, L. Randall - Levy Economics Institute - 2012

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives. That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

Persistent link: https://www.econbiz.de/10010627293

Government Budget Deficits and the Development of the Bond Market in Pakistan: Issues and Challenges

Uppal, Jamshed Y. - In: Lahore Journal of Economics 16 (2011) Special Edition, pp. 159-198

This article examines how better discipline can be brought to fiscal policy, first, through enhanced institutional checks and balances, and second, through better market discipline. We examine the political institutions and budgetary processes that can affect fiscal policy in Pakistan. A sound...

Persistent link: https://www.econbiz.de/10010556350

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