Fiscal institutions, fiscal policy and sovereign risk premia in EMU

Public Choice ◽  
2008 ◽  
Vol 136 (3-4) ◽  
pp. 379-396 ◽  
Author(s):  
Mark Hallerberg ◽  
Guntram B. Wolff
Keyword(s):  
Fiscal Policy ◽  
Risk Premia ◽  
Sovereign Risk ◽  
Fiscal Institutions

Sovereign Risk Premia

2011 ◽  
Author(s):  
Adrien Verdelhan ◽  
Nicola Borri
Keyword(s):  
Risk Premia ◽  
Sovereign Risk

The Impact of Nonpartisan Fiscal Institutions on Budgetary Delay

2020 ◽  
Vol 52 (3) ◽  
pp. 173-183
Author(s):  
Colin Emrich
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Fiscal Institutions ◽  
Governmental Institutions ◽  
The Impact ◽  
The Relationship

Can the design of governmental institutions promote timely governance? This article investigates this question by examining the relationship between the design of fiscal institutions and budgetary delays across the fifty states. These budgetary offices are created by lawmakers to advance sound fiscal policy and sustainable public finance. This article argues that the unbiased information provided by nonpartisan budget offices minimize the likelihood of budgetary delay as well as lessen how long budgetary stalemate persists when a delay occurs. The findings suggest that nonpartisan fiscal institutions do not prevent budgetary delay but substantially reduce the duration of budgetary gridlock.

scholarly journals Sovereign risk premia: The link between fiscal rules and stability culture

2014 ◽  
Vol 41 ◽  
pp. 110-127 ◽  
Author(s):  
Friedrich Heinemann ◽  
Steffen Osterloh ◽  
Alexander Kalb
Keyword(s):  
Risk Premia ◽  
Fiscal Rules ◽  
Sovereign Risk

scholarly journals Sovereign Risk Premia: The Link between Fiscal Rules and Stability Culture

2013 ◽  
Author(s):  
Friedrich Heinemann ◽  
Steffen Osterloh ◽  
Alexander Kalb
Keyword(s):  
Risk Premia ◽  
Fiscal Rules ◽  
Sovereign Risk

Fiscal Adjustment for Stability and Growth

Policy Papers ◽  
2006 ◽  
Vol 2006 (1) ◽  
Author(s):  
Keyword(s):  
Fiscal Policy ◽  
Individual Country ◽  
Fiscal Institutions ◽  
Fiscal Adjustment ◽  
Macroeconomic Stability

This paper aims to inform policymakers, and other interested parties, about the IMF’s approach to fiscal adjustment. The approach focuses on the role of sound and sustainable government finances in promoting macroeconomic stability and growth. Achieving, and maintaining, such a fiscal position often requires adjusting fiscal policy, as well as strengthening fiscal institutions. Fiscal adjustment may involve either tightening or loosening the fiscal stance, depending on individual country circumstances.

Fiskalpolitik und Finanzmärkte: Perspektiven für Forschung und Wirtschaftspolitik

2012 ◽  
Vol 13 (Supplement) ◽  
pp. 13-35
Author(s):  
Gernot Müller
Keyword(s):  
Fiscal Policy ◽  
Financial Markets ◽  
Financial Market ◽  
Economic Activity ◽  
Global Financial Crisis ◽  
New Keynesian ◽  
Sovereign Risk ◽  
Market Conditions ◽  
Fiscal Multiplier ◽  
The Global Financial Crisis

AbstractThe conduct of fiscal policy has been altered considerably in the context of the global financial crisis, that is, at times when financial markets conditions were extraordinary turbulent. Yet financial market conditions determine how fiscal impulses are transmitted through the economy and, eventually, the size of the fiscal multiplier. I develop a comprehensive perspective on how financial market conditions alter the effects of fiscal policy on economic activity within a New Keynesian framework. Drawing on historical as well as systematic considerations, I distinguish a scenario of 1) “normal times” characterized by smoothly operating financial markets, 2) financial markets characterized by tight credit conditions in the private sector and constraints on monetary policy and 3) financial markets, in addition, characterized by high sovereign risk. I argue that the size and even the sign of the multiplier may differ across these scenarios.

Sign in / Sign up

Export Citation Format

Share Document