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... the effects of fiscal consolidation —tax hikes and government spending cuts—on economic ...of fiscal consolida- tion in advanced economies, and on simulations of the IMF’s Global Integrated ... See full document

... that fiscal consolidation has an expansionary effect by increasing private sector confidence, in a Ricardian equivalence logic (Alesina and Ardagna, ...the effects of the recession and hit ... See full document

... Fiscal consolidation based on tax increases and expenditures cuts is well documented in empirical ...large fiscal adjustments in the last three ...unsuccessful fiscal consolidations authors ... See full document

... of consolidation attempts enacted by sub-central tiers alone is that cuts in capital expenditure dwarf those in other components of expenditure, and the wage bill actually increases as a percentage of GDP 24 ... See full document

... Some fifteen years ago, when European leaders negotiated the foundations of the framework of EU economic governance, no serious observer would have anticipated the type of crisis that eventually unfolded at the end of ... See full document

... laboratory fiscal federalism is that it does not describe equilibrium or stability in functions and assignments, given that its purpose is to promote innovation and ...Laboratory fiscal federalism, ... See full document

... of fiscal policy on output have omitted the debt ...dynamic effects of fiscal ...the effects of fiscal policy along unsustainable debt ...that fiscal multipliers differ in models ... See full document

... short-term macroeconomic effects of fiscal policy on economic activity in ...the fiscal multipliers calculated from the reaction functions indicate that the expenditure multiplier, has a ... See full document

... The budget component of the EU economic policy, unlike mone- tary policy, is mainly attributed to the powers of Member States, and therefore in the current founding treaties it has no legislative provisions, but is ... See full document

... short-run fiscal multipliers, highly illiquid assets such as pension funds for example, cannot be used to such ...the fiscal shocks that are likely to be biased, and therefore affect the size of the output ... See full document

... of fiscal consolidation ...short-term effects of fiscal consolidations on economic activity for a sample of OECD countries, using the narrative approach as in Romer and Romer (2010), finding ... See full document

... After thirty years of CHI conferences, twenty years of UPA conferences, and countless books, articles, and websites about usability and interaction design, shouldn’t all software deve[r] ... See full document

... Measuring the overindebtedness in the public and private sector and thereby simulating the deleveraging process remains one of the most challenging empirical problems in macroeconomics because the equilibrium debt level ... See full document

... of fiscal consolidation is the “ action-based ” variable constructed in Devries et ...based consolidation variable contains bottom-up estimates of the amount of measures taken by the government ... See full document

... Nevertheless, a positive effect from an expansionary fiscal policy in a VAR model can also be found. Vorasangasil (2008), using VAR with Cholesky decomposition from 1997:3 to 2007:4 (i.e. after the financial ... See full document

... Since macroeconomic adjustment requires an improvement in the external position, through an internal devaluation, this must result in a shift of resources into tradable sectors, including labour ... See full document

... of fiscal policy over the years has remained the pursuit of the macroeconomic objectives of sustainable growth and stability, employment generation and poverty reduction, as well as the provision of basic ... See full document

... of fiscal consolidation, operating in two regimes – with and without ‘multiplier effects’ of expenditure ...and fiscal adjustment along lines envisaged by the Maastricht Treaty has purely ... See full document

... debt consolidation policies are harmful for social welfare over all time horizons; this is consistent with output …ndings in Table ...spending-based consolidation (compare Panel A 4th and 5th row with Panel ... See full document

... of fiscal policy in the EMU is not only the increase in the level of interest rates, but also the spread of interest rates, because the fiscal expansion which is connected to debt financing in the absence ... See full document