Search Results - subject_exact:"Staatsverschuldung"

Corneo, Giacomo - 2026

Was bedeutet die verteidigungspolitische Wende Deutschlands für seine öffentlichen Finanzen? Dieser Beitrag offeriert einfache Formeln, mit denen zentrale finanzpolitische Implikationen quantifiziert werden können. Es zeigt sich, dass eine reine Kreditfinanzierung bereits nach wenigen Jahren...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015624574

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Zeitenwende und öffentliche Finanzen

Corneo, Giacomo - 2026

Book / Working Paper

Fiskalregel oder Fiskalchaos? Ein Plädoyer für eine einfache Fiskalregel für den Euroraum

Jost, Thomas; Seitz, Franz - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015634193

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

Sovereign dDebt and grace periods

Mimir, Yasin; Önder, Yasin Kürşat; Villegas, Jose - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015608775

Fiscal assessments through the lens of firms : corporate perceptions and the transmission of fiscal policy

Hirs-Garzon, Jorge; Andrián, Leandro; Valencia, Oscar M. - 2026

This paper examines how firm perceptions influence the transmission of fiscal policy. Using natural language processing on corporate earnings calls from 51 countries over two decades, we construct Fiscal Perceptions Indicators (FPI) that capture the incidence, risk framing, and tone of fiscal...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015608805

The effects of austerity on fiscal prudence : the role of private indebtedness and private investment

Chrysanthakopoulos, Christos - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609167

Informal labor market, inflation and monetary policy

Piscopo, Aniello - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609214

Kicking away the green ladder : the asymmetric sovereign risk from nature degradation

Wollenweber, Alexander; Wang, Dieter; Ranger, Nicola - 2026 - Version: March 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609600

Sovereign debt dynamics at the brink of default and the special role of supranational lenders

Zwart, Sanne - 2026

Compared with the relatively straightforward definition of a default event, assessing sovereign debt sustainability remains a grey area. The interaction between fiscal choices, lenders' expectations and economic uncertainty creates a setting in which-particularly when a default...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610720

The political economy of non-compliance with the golden rule of public finance

Uchida, Yuki; Ono, Tetsuo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610944

Distance matters : geographical proximity and fiscal rules enforcement

Christofzik, Désirée I.; Märtz, Oliver - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671935

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Distance matters : geographical proximity and fiscal rules enforcement

Christofzik, Désirée I.; Märtz, Oliver - 2026

Book / Working Paper

Determinants of sovereign bond issuance in emerging markets

Wong, Ka Lok; Manger, Mark S.; Panizza, Ugo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015617105

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Determinants of sovereign bond issuance in emerging markets

Wong, Ka Lok; Manger, Mark S.; Panizza, Ugo - 2026

Book / Working Paper

Cabo Verde : Technical Assistance Report-Public Debt Projections and Analysis with the Public Debt Dynamics Tool (DDT)

2026

The Direction of Planning (DNP) of the Ministry of Finance has sought Technical Assistance from ICD to help develop capacity for public debt projections and analysis. Pre-scoping and pre-mission meetings revealed that there was no single unit responsible for producing public debt projections. It...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612665

Cabo Verde : Technical Assistance Report: Public Debt Projections and Analysis with the Public Debt Dynamics Tool (DDT)

Cuiabano, Simone - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612666

The perils of narrowing fiscal spaces

Kase, Hanno; Melosi, Leonardo; Rast, Sebastian; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613761

Fiscal effects of the COVID-19 pandemic : assessing public debt sustainability in the Philippines

Debuque-Gonzales, Margarita; Diokno-Sicat, Charlotte Justine - 2022

This paper examines whether the current level of debt in the country, given the national government's fiscal policy and plans, remains on a sustainable path. By end-2021, a year after the peak of the public health and economic crisis brought about by the COVID-19 pandemic, the country's...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014475418

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Fiscal effects of the COVID-19 pandemic : assessing public debt sustainability in the Philippines

Debuque-Gonzales, Margarita; Diokno-Sicat, Charlotte Justine - 2026

Book / Working Paper

Private money and public debt. U.S. Stablecoins and the global safe asset channel

Ferrari, Massimo Minesso; Siena, Daniele - 2026

This paper studies the international macro-financial implications of U.S. dollar-backed payment stablecoins. These digital assets create a new global safe asset channel that links private money creation and global payment needs directly to U.S. public debt. By reshaping the demand for safe...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592687

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

Guns and butter : the fiscal consequences of rearmament and war

Marzian, Johannes; Trebesch, Christoph - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015617667

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Guns and butter : the fiscal consequences of rearmament and war

Marzian, Johannes; Trebesch, Christoph - 2026 - First draft: January 2024, this draft: February 2026

Edition: First draft: January 2024, this draft: February 2026

Book / Working Paper

Guns and butter : the fiscal consequences of rearmament and war

Marzian, Johannes; Trebesch, Christoph - 2025

Book / Working Paper

Climate resilience and the adaptation trap : a macroeconomic framework for joint fiscal-external sustainability

Afonso, António; Alves, José; Jalles, João Tovar; … - 2026

Climate change is reshaping sovereign risk and macroeconomic stability by amplifying fiscal and external fragilities. This paper develops a unified framework to assess how climate vulnerability and resilience jointly influence fiscal–external solvency. We construct a market-based...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015586922

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

Debt imperialism : from financial hegemony to the chaos of semi-peripheries

Brunazzi, Gianmaria; Re, Cristina - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015604706

Fiscal monitoring with VARs

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

We design a Bayesian Mixed-Frequency vector autoregression (VAR) model for fiscal monitoring, i.e., to nowcast the government deficit-to-GDP ratio in real time and provide a narrative for its dynamics. The model incorporates both monthly cash and quarterly accrual fiscal indicators, together...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605598

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Fiscal monitoring with vars

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

Book / Working Paper

Fiscal Monitoring with VARs

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

Book / Working Paper

From fiscal rules to fiscal traffic lights : rethinking the UK fiscal framework

Zaranko, Ben - 2026

The central contention of this report is that the UK fiscal framework has some desirable features but is not delivering good outcomes. We are in a bad equilibrium. The UK's fiscal framework is based around a set of pass-fail, numerical fiscal rules. The fiscal debate is overly fixated on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606096

Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015414582

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Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2026

Book / Working Paper

Public financing under balanced budget rules

Deng, Minjie; Liu, Chang - 2024

Book / Working Paper

ECB council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

We examine the changing attention that ECB Governing Council members pay to different policy objectives by analysing more than 4,600 speeches given between the establishment of the ECB and the summer of 2024. Alongside the primary objective of price stability, we consider the following potential...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606329

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ECB Council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

Book / Working Paper

Eurobonds : the right time for the Trojan horse

Mortimer-Lee, Paul - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015619752

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

The effects of fiscal news on household expectations and spending : new causal evidence

Shim, Myungkyu; Kim, Kwang Hwan; Lee, Myunghwan Andrew; … - 2026

We provide experimental evidence on how fiscal news shapes households' expectations and spending behavior. Using a new survey of ~11,000 Korean individuals linked to automatically collected high-frequency spending data, we elicit respondents' fiscal and macroeconomic beliefs and randomly provide...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015624661

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The effects of fiscal news on household expectations and spending : new causal evidence

Shim, Myungkyu; Kim, Kwang Hwan; Lee, Myunghwan Andrew; … - 2026

Book / Working Paper

Coordinating in the haircut, a model of sovereign debt restructuring in secondary markets

Cobas, Adriana - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625230

An overlapping generations model to investigate the fiscal implications of New Zealand's ageing population : a background paper for the 2025 Long-term Fiscal Statement

Binning, Andrew; Özbilgin, Murat; Smith, Christie - 2026

New Zealand's population is ageing. Public spending on public pensions (NZ Superannuation) and health are particularly sensitive to this trend and are expected to increase accordingly. Current and future government policies aimed at addressing this challenge will not only influence macroeconomic...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625615

Fiscal sustainability of transition finance : implications for the GX economy transition bonds in Japan

Fukuda, Shin'ichi; Ino, Akio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626417

Safety switches : the macroeconomic consequences of time-varying asset safety

Foschi, Andrea - 2026

I develop a model-based definition of time-varying sovereign bond safety, and apply it empirically by constructing a news-based index, the FLY, that measures global safe-assets demand. The FLY captures flight-to-safety episodes, the savings glut, and natural interest rate declines. Estimated FLY...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626787

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Safety switches : the macroeconomic consequences of time-varying asset safety

Foschi, Andrea - 2026

Book / Working Paper

Fiskalregel oder Fiskalchaos? : ein Plädoyer für eine einfache Fiskalregel für den Euroraum

Jost, Thomas; Seitz, Franz - 2026

Die europäischen Regeln zur Begrenzung der Staatsverschuldung haben sich nicht bewährt. Das Regelwerk ist zu komplex, die Überwachung und Durchsetzung unterliegt politischen Einflussnahmen und eine wirkungsvolle Sanktionierung von Regelverstößen findet nicht statt. Wir analysieren vor...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626822

CESEE-8 government debt and risks in 2024

Walko, Zoltan - 2026

This report takes stock of government debt ratios in eight Central, Eastern and Southeastern European EU member states (CESEE-8) in 2024, including comparisons to 2023. It analyzes the major drivers behind debt developments, such as primary balances, interest payments, the impact of inflation,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627138

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

Designing Medium-Term debt Management Strategy (MTDS) for subnational debt management in India

Nayak, Dinesh Kumar; Jena, Pratap Ranjan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628402

Optimal supermajority threshold for suspending fiscal rule

Arawatari, Ryo; Ono, Tetsuo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628403

Sri Lanka's debt crisis : a crisis of governance

Dryden, Alex; Volz, Ulrich - 2026

This paper examines the origins, evolution, and resolution efforts surrounding Sri Lanka's 2022 sovereign debt default. Many defaults are triggered by sudden external shocks, but, in contrast, Sri Lanka's crisis was largely the result of prolonged domestic policy failures, including chronic...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628624

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

Global Debt Report 2026 : Sustaining Debt Market Resilience Under Growing Pressure

2026

Global debt markets face increasing pressures from sustained fiscal deficits, rising interest costs and investment needs, a structural decline in long term demand, and growing refinancing risks as the maturity of issuance shortens. Even so, public and private borrowing reached record levels in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015629218

Point break : when fiscal rules turn pro-cyclical$devidence from debt thresholds in the European Union

Carnazza, Giovanni; Tomasone, Francesco - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638013

Evaluating the self-defeating fiscal austerity hypothesis for a dollarized economy: the Peruvian case

Mancilla Marquina, Luis; Rodriguez, Gabriel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638654

The balanced budget in the Italian constitution : the evolution of article 81 and the sustainability of public finances

Marini, Giorgia; Mino, Giulia - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638762

Financial risk management in the fiscal policy of the Republic of Moldova : challenges and directions for transformation

Pruteanu, Mariana - 2026

Financial risk management is increasingly central to fiscal policy in volatile and highly open economies. This paper assesses the fiscal risk management system of the Republic of Moldova using a SWOT framework complemented by a TOWS strategy matrix (SO, ST, WO, WT). The analysis relies on...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639912

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

Major customers and firms' reliance on bank debt

Liu, Shiang; Sun, Liang - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015640599

Government employment shocks, policy coordination, and debt structure

Kim, Hyeongwoo; Zhang, Ren; Zhang, Shuwei - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641824

Runs on tokenized debt

Araujo, Luis; Izumi, Ryuichiro; Mattesini, Fabrizio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641911

Sovereign risk with endogenous debt limits

Arce, Fernando; Villa, Alessandro T. - 2026

Why do countries set sovereign debt ceilings if they keep raising them? This paper shows that debt ceilings can serve as intermediate commitment devices that reduce expected dilution, thereby lowering spreads-and their volatility-even without reducing total borrowing. We propose a new sovereign...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643954