Long Run Implication of the Increase in Taxation and Public Debt for Employment and Economic Growth in Europe PDF Download
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Author: Giuseppe Tullio
Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 60
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Book Description
Author: Giuseppe Tullio
Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 60
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Giuseppe Tullio
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Publisher:
ISBN:
Category :
Languages : it
Pages : 52
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Book Description
Author: Giuseppe Tullio
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Author: Giuseppe Tullio
Publisher:
ISBN:
Category :
Languages : es
Pages : 52
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Author: Mr.Daniel Leigh
Publisher: International Monetary Fund
ISBN: 1455294691
Category : Business & Economics
Languages : en
Pages : 41
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This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Author: Mr.Carlo Cottarelli
Publisher: International Monetary Fund
ISBN: 1475503911
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257
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This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author: Juergen Attard
Publisher:
ISBN: 9783346095350
Category :
Languages : en
Pages : 58
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Book Description
Master's Thesis from the year 2019 in the subject Economics - Economic Cycle and Growth, The University of York, course: MSc Economics, language: English, abstract: Despite the European sovereign debt crisis, few empirical studies have examined the debt and growth nexus for European economies, particularly on a holistic European level. This study sets out to address this gap by using data for 25 European Union member states to carry out a comprehensive analysis of the impact of debt on economic growth. A panel autoregressive distributed lag model (ARDL) is used to analyse the impact of debt on growth. This framework helps in determining both the long and short-run impact of debt on growth. This mitigates some limitations of previous empirical literature that explains either the short- or long-run effect. The full panel ARDL estimation illustrates a negative relationship between debt and growth both over the long and short-term. The debt and growth nexus, although of different magnitudes, is also negative across high and low levels of debt and across different time periods. Finally, a Dumitrescu Hurlin panel causality test is carried out to establish the causal direction between debt and growth. Evidence of bidirectional causality is detected for the full panel of countries. However, the direction of causality varies between countries with high and low average debt-to-GDP ratio. In the aftermath of the 2007 global financial and economic crisis, the level of global public debt has increased significantly. This upsurge in global public debt has led to the revival of the academic debate on public debt and economic growth nexus. With global debt levels well above those registered in 2008, it is vital to analyse the repercussions that government debt has on growth. Empirical research in this area is key to identify the policy recommendations needed to avoid another economic crisis.
