Search Results - subject_exact:"Budgetdefizit"

Ageing costs, public debt sustainability and EU fiscal rules

Gökten, Meryem; Heimberger, Philipp - 2026

This paper examines the role of ageing costs and the underlying assumptions in the reformed EU fiscal rules. To comply with these rules, governments facing rising ageing costs over the decade that follows a multi-year adjustment period must pre-emptively implement fiscal consolidation measures...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654499

Republic of Kazakhstan: State-Owned Enterprises, the Fiscal Stance, and Risks

Heng, Dyna - 2026

State-owned enterprises (SOEs) remain a cornerstone of Kazakhstan’s economy and growth model. However, SOEs’ quasi-fiscal activities conducted outside the fiscal framework obscure the overall fiscal stance, complicating macroeconomic management. This paper finds that the balance sheet...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612627

On the sustainable deficit of the government

Greiner, Alfred - 2026

In this note we derive the long-run public deficit to GDP ratio that is compatible with a sustainable public debt. Starting from the observation that a sustainable debt policy requires that the present value of public debt asymptotically converges to zero and that the debt to GDP ratio must be...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015595761

Debt and deficits: fiscal analysis with stationary ratios

Campbell, John Y.; Gao, Can; Martin, Ian - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015578953

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Debt and Deficits : Fiscal Analysis with Stationary Ratios

Campbell, John Y.; Gao, Can; Martin, Ian - 2023

Book / Working Paper

Debt and deficits : fiscal analysis with stationary ratios

Campbell, John Y.; Gao, Can; Martin, Ian - 2023

Book / Working Paper

Debt and Deficits : Fiscal Analysis with Stationary Ratios

Campbell, John Y.; Gao, Can; Martin, Ian - 2023

Book / Working Paper

Fiscal Monitoring with VARs

Cimadomo, Jacopo; Giannone, Domenico; Lenza, Michele; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015620484

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Fiscal monitoring with VARs

Cimadomo, Jacopo; Giannone, Domenico; Lenza, Michele; … - 2026

Book / Working Paper

The budget for fiscal headroom

2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606046

Impact of fiscal sustainability on economic growth in Kenya

Mose, Naftaly; Moro, Kamal Deen - 2026

Fiscal sustainability refers to a government's capacity to generate sufficient revenue to cover its expenses and repay its debts without accumulating excessive liabilities or creating new money. Recent observations indicate that Kenya's economic growth has slowed, prompting concerns about its...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015620782

Public debt sustainability in the Eurozone : an empirical assessment using macroeconomic indicators

Mutai, Noah Cheruiyot; Ibeh, Lawrence; Farag, Karim; … - 2026

This study examines public debt sustainability in the Eurozone by estimating fiscal reaction functions that assess how fiscal balances respond to rising public debt under heterogeneous macroeconomic conditions. Using annual panel data for 20 EU countries from 2000 to 2024, we employ fixed...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628390

Governance quality and fiscal discipline : evidence from an emerging economy

Alsaffarini, Enas; Awwad, Bahaa Sobhi Abde Latif - 2026

This study examines the impact of key governance dimensions on public budget rationalization in Palestine from 2002 to 2023. Utilizing Legitimacy Theory, the research assesses how institutional quality affects fiscal outcomes, including revenues, expenditures, net lending, and budget balance....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628706

The impact of geopolitical crises on fiscal and budgetary stability

Papainog, Maria-Teodora - 2026

This study explores the relationship between geopolitical risk and fiscal-budgetary stability of countries, focusing on how external instability impacts the dynamics of the budget deficit. Using a dynamic System GMM (Arellano-Bover/Blundell-Bond) model on a panel dataset of 25 OECD member...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639915

Fiscal and external breakeven oil prices are broken concepts (and how to fix them)

Pierru, Axel; Smith, James L. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641905

On the unintended consequence of fiscal rules : evidence from fiscal expenditures

Arezki, Rabah; Graziosi, Grégoire Rota; Le Van Dao - 2026

This paper documents the unintended consequence of fiscal rules in the form of tax expenditures using both theory and data. We first introduce a simple fiscal model where the government has time-inconsistent preferences with a present bias toward public spending in line with Halac and Yared...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656663

Strengthening fiscal legislation through extrinsic and intrinsic incentives

Goyal, Ashima - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647559

The cyclical behaviour of government spending for social protection : is the OECD methodology robust?

Arsenev, Aleksandr; Heimberger, Philipp; Schütz, Bernhard - 2026

Spending elasticities measure the reaction of different government spending components to the business cycle. They are important inputs for fiscal forecasts, and they are particularly relevant in the context of European Union (EU) fiscal rules, as elasticity estimates enter the estimation of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015650700

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The cyclical behaviour of government spending for social protection : is the OECD methodology robust?

Arsenev, Aleksandr; Heimberger, Philipp; Schütz, Bernhard - 2023

Book / Working Paper

Whither the federal budget?

Dynan, Karen E.; Smetters, Kent A.; Zentner, Ellen - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651381

Deficit aversion as a path to higher debt : sovereign debt dynamics in a stock-flow consistent model with public capital

Jürgens, Ekaterina - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652488

Climate change and India's inflation, fiscal space and growth

SenGupta, Swapnanil; Atal, Aakansha - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653146

Heterogeneous growth effects in MENA countries : evidence from pooled quantile regression

Alrefo, Mahmoud Odeh Mitlaq; Lee, Yvonne; Han Hwa Goh - 2026

This study examines the heterogeneous effects of key macroeconomic determinants on economic growth in selected MENA economies using a pooled quantile regression framework. Unlike conventional mean-based approaches, this method captures variation across different segments of the conditional...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633282

Fiscal deficit : effect of economic, political, and institutional factors in Ecuador

Hernandez-Medina, Patricia; Ayol-Ayol, Cristian Israel; … - 2026

This study estimates the effect of economic, political, and institutional factors on Ecuador's budget deficit during the period 1990-2022. A distributed lag autoregressive model is used, given the non-stationarity of the variables and their different orders of integration. The limit test and the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653887

Financial stability limits on fiscal space

Zampolli, Fabrizio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668198

Do fiscal rules undermine public investments? : a review of empirical evidence

Blesse, Sebastian; Dörr, Luisa; Dorn, Florian; Lay, Max - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670970

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Do fiscal rules undermine public investments? : a review of empirical evidence

Blesse, Sebastian; Dorn, Florian; Lay, Max - 2023

Book / Working Paper

The interest rate effect of government debt and deficits : does domestic borrowing have a different impact than foreign borrowing?

Davis, Scott; Derr, Lillian - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669403

Trading budget deficits for public investment : optimal deficit rules for present-biased governments

Bergmann, Tobias; Moretti, Nikolaj - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672348

Twin deficits and external constraints in a dollarized economy : a stock-flow consistent exercise for smaller economies with an application to El Salvador

Alvarez, Armando; Pérez Caldentey, Esteban; Yajima, … - 2026

This paper develops a stock-flow consistent (SFC) exercise for a smaller and dollarized economy and applies it to the case of El Salvador. Against the backdrop of the 2025 IMF-supported fiscal adjustment program, we reassess the origins of rising public debt and persistent external deficits...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016060286

How governments finance and defund military spending : global evidence on deficits, taxes, and civilian spending

Bolouri, Armin A.; Lohse, Tim; Qari, Salmai - 2026

Using cross-country data for 167 countries with broad post-World War II coverage and historical extensions to earlier periods, we quantify how deficits, taxes, and civilian spending respond to increases and decreases in military spending. On average, deficit financing dominates: a 1 percent-age...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635167

Fiscal deficit and inflation dynamics in the WAMZ

Olowofeso, Olorunsola E.; Wadda, Ebrima N.; Adedeji, … - 2025

The West African Monetary Zone (WAMZ)'s economy has faced persistent fiscal deficits over the years, and this has affected other macroeconomic indicators like inflation. This study empirically examines the effect of fiscal deficit on inflation dynamics in the WAMZ. It employs the Panel Smooth...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618357

Politics of local fiscal discipline with vertical fiscal imbalance

Obeng, Samuel Kwabena; Aazam, Layal - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371893

Fiscal forecasting rationality among expert forecasters

Chocobar, Belen; Claeys, Peter; Poplawski-Ribeiro, Marcos - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374211

Fiscal stance, fiscal rules, and public debt dynamics in the United States

Abubakar, Attahir Babaji; Mamman, Suleiman O.; Iliyasu, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374323

Fiscal and monetary policy interactions : impacts and economic implications

Bozagiu, Andreea-Mădălina; Mihai, Dănuț-Georgian; … - 2025

This paper analyses the impact of various macroeconomic shocks - including aggregate demand, supply, monetary policy, real exchange rate, and budget deficit deviation shocks - on Romania's economy using a VAR model with Bayesian inference. The study captures the period following the adoption of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375074

Determinants of the degree of fiscal sustainability

Afonso, António; Alves, José; Coelho, José Carlos - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375251

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Determinants of the degree of fiscal sustainability

Afonso, António; Alves, José; Coelho, José Carlos - 2023

Book / Working Paper

Twin deficits or distant cousins? : why the distinction matters for banks in Kenya

Kiplangat, Josea Cheruyiot; Osoro, Jared - 2025

This paper seeks to determine the interaction mechanism between the domestic imbalance and the external imbalance in Kenya and why it matters for banks. Whenever an economy has is on a path of soaring fiscal and current account deficits like Kenya has been over the past decade, concerns on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375413

Macro-imbalances and bank lending : a case of Kenya's banking industry

Agung, Raphael; Muli, Anthony; Ndwiga, David; Njoroge, … - 2025

The paper examines the effect of macroeconomic imbalances on bank lending with emphasis on the exchange rate movement, inflation differential and fiscal deficit. In the study, bank lending is modelled by gross loans and advances, assets quality and risk appetite. The panel GMM model results show...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375427

Fiscal and external sustainability : a two-step time-varying Granger causality assessment

Afonso, António; Alves, José; Coelho, José Carlos; … - 2025

We implement a two-step analysis of fiscal and external causality patterns using a data set covering the 27 EU countries in the period 2002Q1-2023Q4. In the 1st step, we compute fiscal and external sustainability time-varying coefficients, modelling the cointegration relationship between...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015211762

U.S. infrastructure: 1929-2023

Fair, Ray C. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015271652

Compliance with fiscal sustainability and the Euro

Afonso, António; Miranda, Catarina Farinha - 2025

Through fiscal reaction functions, we investigate fiscal sustainability for five European country-group panels and check for a change in fiscal behaviour after countries adopted the euro as their currency. Using annual data for the period between 1990 and 2021, we identify evidence of average...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333286

"Pop" goes the National Debt

Mateer, G. Dirk; Geerling, Wayne; … - 2025

This paper provides a novel way for instructors to teach about the perils of a large National Debt, which is currently $36 trillion. We provide a detailed lesson plan that utilizes balloons to illustrate the possible paths a society can take to address this issue. The lesson plan consists of an...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190213

Trading deficits for investment : optimal deficit rules for present-biased governments

Bergmann, Tobias; Moretti, Nikolaj - 2025

We develop a simple two-period principal-agent model in which a present-biased government, the agent, chooses public investment levels given a deficit rule imposed by the principal. The principal sets a deficit cap to curb current debt-financed consumption. In doing so, it also reduces long-term...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190377

Do deficits cause inflation? : a high frequency narrative approach

Hazell, Jonathon; Hobler, Stephan - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015199756

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Do deficits cause inflation? : a high frequency narrative approach

Hazell, Jonathon; Hobler, Stephan - 2025

Book / Working Paper

Do deficits cause inflation? : a high frequency narrative approach

Hazell, Jonathon; Hobler, Stephan - 2024

Book / Working Paper

The state of the states : federal finance in India

Eichengreen, Barry; Gupta, Poonam - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015532642

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The state of the states : federal finance in India

Eichengreen, Barry; Gupta, Poonam - 2025

Book / Working Paper

Oil price volatility and its effects on macroeconomic stability in Jordan : a structural VAR approach

Al-Sawaie, Khaled Mohammed; Mohammad, Suleiman Ibrahim … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015464842

Impact of renewable energy expansion on government debt in developing countries

Taghizadeh-Hesary, Farhad; Rasoulinezhad, Ehsan - 2025

This study examines the relationship between energy transition and government debt in 15 developing countries using a dynamic generalized method of moments (GMM) estimation backed by a theoretical background. Results show that government debt is highly persistent, with past debt strongly...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448482

Relecture structurelle du déficit : quels indicateurs pour piloter les finances publiques?

Rue du Can, Jacques de la; Bordellès-Viala, Emmanuel; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448600

Fiscal austerity and informality : twin deficits as a cushion in Latin American countries

Bechchani, Khalil - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015449075

Liechtenstein : The Fiscal Sector Framework

Chawani, Rodgers - 2025

This paper analyzes Liechtenstein's fiscal framework, highlighting its successful consolidation following the global financial crisis. The study examines the budget balance rule that anchors fiscal policy, benchmarking key fiscal indicators against European peers. Findings reveal Liechtenstein...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015452006

Understanding the normalization of Japanese economy

Itō, Takatoshi - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015454773

Twenty-five years of inflation-targeting in South Africa : going from 6% to 3%?

Burger, Philippe - 2025

This paper proposes that the South African Reserve Bank should pursue a 3% inflation target, instead of the current 4.5% midpoint of a 3%-to-6% target range. Doing so may also result in lower inflation volatility, thereby reducing nominal exchange rate risk for investment and trade, and may thus...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015410635

How dynamics of public debt and health expenditures affects response to health crises : Europe during COVID 19 pandemic

Coccia, Mario; Benati, Igor - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015437193

Fiscal deficit and term structure of interest rate links on corporate investment : analyzing the post-pandemic monetary policy transmission using Indian high frequency data

Chakraborty, Lekha; Prasanth, C. - 2025

Using high-frequency macro data from a financially deregulated regime, this paper examines whether there is any evidence of financial crowding out in India. The macroeconomic channel through which financial crowding out occurs is the link between the fiscal deficit and the interest rate...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015438053

Fiscal dominance and the financial resource curse : the Paradoxes of Plenty and Banking

Constantine, Collin - 2025

This article models banking under the condition of fiscal dominance or monetised-fiscal deficits, and explains why resource-based economies experience a financial resource curse. The evidence shows that commodity price shocks engender premature deindustrialisation, reduce loan-deposit ratios and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015439225