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Impact of fiscal institutions on public finances in the European Union : review of evidence in the empirical literature
Gorčák, Martin; Šaroch, Stanislav - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 2, pp. 215-232
policies within the EU, and increased national ownership of fiscal rules by strengthening national fiscal frameworks. A fiscal …-making whereas others put emphasis on other fiscal outcomes. The samples of countries covered mostly the EU Member States …, representing rather homogenous samples in the context of common EU fiscal framework. Institutional aspects used as independent …
Persistent link: https://www.econbiz.de/10012598898
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Investment and the golden rule in the European Union
Marinescu, Ada Cristina - In: Financial studies 22 (2018) 1, pp. 53-63
countries. The strict fiscal rules imposed by EU have negatively affected the investments. The decline in public investment in …
Persistent link: https://www.econbiz.de/10011964940
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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 impact on the deficit policy of member states. The empirical analysis gives no hint for an alteration of deficit policy after having joined EMU or after having breached the Pact in...
Persistent link: https://www.econbiz.de/10011488439
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Theoretical and practical approaches to fiscal consolidation : the experience of Romania
Leonida, Ionel - In: Financial studies 22 (2018) 2, pp. 65-76
Fiscal consolidation is a traditional concern, we can say at the European institutional level, ratified and gradually taken over by the member countries, implemented through the Stability and Growth Pact, and enshrined in the Treaty of Maastricht, which is part of the permanent bailouts of...
Persistent link: https://www.econbiz.de/10011964952
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Consistent flexibility : enforcement of fiscal rules through political incentives
Dotti, Valerio; Janeba, Eckhard - 2020
-off between fiscal discipline and fiscal rule flexibility, as often claimed in the context of the EU's Stability and Growth Pact …
Persistent link: https://www.econbiz.de/10012249286
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Fiscal rules and economic cycles : quality (always) matters
Andrián, Leandro; Hirs-Garzón, Jorge; Urrea, Iván; … - 2023
Governments can issue public debt for both good and bad reasons. The former include intertemporal tax smoothing, fiscal stimulus, and asset management. In contrast, the bad reasons, which generate higher indebtedness, are mainly associated with political cycles, rent capture, intergenerational...
Persistent link: https://www.econbiz.de/10014480731
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Credibility and bias : the case for implementing both a debt anchor and a balanced budget rule
Castro-Valderrama, Marcela de; Moreno-Arias, Nicolás; … - 2023
Should a government have more than one fiscal rule constraining fiscal aggregates? If so, why? In this paper, we present a dynamic general equilibrium model of a small open economy featuring an incumbent government to assess how and why implementing a budget balance rule and a debt anchor rule...
Persistent link: https://www.econbiz.de/10014290466
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Uniting European fiscal rules : how to strenghten the fiscal framework
Christofzik, Désirée I.; Feld, Lars P.; Reuter, Wolf … - 2018
The current European fiscal framework is highly complex. The multitude of fiscal rules and the discretion in their enforcement precludes an effective oversight and weakens the effectiveness of fiscal rules substantially. Against this background, we present a proposal for a careful refocusing of...
Persistent link: https://www.econbiz.de/10011898769
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What Do Deficits Tell Us About Debt? Empirical Evidence on Creative Accounting with Fiscal Rules in the EU
von Hagen, Jürgen - 2016
Persistent link: https://www.econbiz.de/10012991343
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Fiscal Rules and Fiscal Councils : Recent Trends and Performance During the COVID-19 Pandemic
Davoodi, Hamid R.; Elger, Paul; Fotiou, Alexandra; … - 2022
Adoption of fiscal rules and fiscal councils continued to increase globally over the last decades based on two new global datasets. During the pandemic, fiscal frameworks were put to test. The widespread use of escape clauses was one of the novelties in this crisis, which helped provide policy...
Persistent link: https://www.econbiz.de/10013295144