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Search Results for: “Effects of fiscal consolidation envisaged in the 2013 Stability and Convergence Programmes on public debt dynamics in EU Member States”

Fiscal Consolidations and Growth: Does Speed Matter?

Pennings, S. and Pérez Ruiz, E., (2013), “Fiscal Consolidations and Growth: Does Speed Matter?”, International Monetary Fund, Working Paper No. 13/230, November. Should fiscal consolidations be front-loaded or proceed at a more steady pace, and how does this affect growth? We make an attempt to address this question using a three-step methodology. First, we modify a standard regression of growth on consolidation size to allow speed to affect the multiplier. …Read More

Fiscal consolidations and spillovers in the Euro are periphery and core

In’t Veld, Y., (2013), “Fiscal consolidations and spillovers in the Euro are periphery and core”, European Commission, Directorate-General for Economic and Financial Affairs, Economic Papers 506, October. This paper uses a structural multi-country model to assess the impact of fiscal consolidation measures undertaken in 2011-13 in the EA periphery and core. The simulations assume ‘crisis’ conditions prevailing (high share of constrained households, ZLB). The GDP effects depend crucially on the …Read More

How to make Europe’s incipient recovery durable – A rejoinder

Buti, M. and Padoan, P.C., (2013), “How to make Europe’s incipient recovery durable – A rejoinder”, VoxEU, 08 October. Our recent Vox column triggered an interesting and lively debate (see for instance Krugman, 2013; Fatas, 2013; Watt, 2013). In it, we argued that weak private investment is partly to blame for the growth shortfall of the Eurozone compared to the US in the past few years and that putting in …Read More

Effects of fiscal consolidation envisaged in the 2013 Stability and Convergence Programmes on public debt dynamics in EU Member States

Berti, K., de Castro, F. and Salto, M., (2013), “Effects of fiscal consolidation envisaged in the 2013 Stability and Convergence Programmes on public debt dynamics in EU Member States”, European Commission, Economic Paper 504, September. This paper presents a simple analysis of the public debt-to-GDP ratio responses to fiscal consolidation efforts envisaged in the 2013 Stability and Convergence Programmes presented by EU Member States. In this paper we assess the …Read More