A Macroeconometrical Model of Sustainable Fiscal Policy. Study Case on Romania

2012 ◽  
pp. 73-77 ◽  
Author(s):  
Mihai Daniel Roman ◽  
Monica Roman ◽  
Magdalena Talvan
Keyword(s):  
Fiscal Policy ◽  
Policy Study ◽  
Sustainable Fiscal Policy ◽  
Study Case

Economic Policy

2019 ◽  
pp. 173-195
Author(s):  
William Keech ◽  
William Scarth
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Policy ◽  
Fiscal Policy ◽  
Income Distribution ◽  
Political Institutions ◽  
Productivity Growth ◽  
The United States ◽  
Economic Policies ◽  
Sustainable Fiscal Policy

This chapter identifies the differing policies and outcomes that Canadians and Americans have pursued with respect to economic growth, stabilization, and income distribution, and it analyzes several factors that can partially explain why divergent policy choices have emerged. The United States (U.S.) has recorded better productivity growth, while Canada has achieved a more sustainable fiscal policy, a less fragile financial sector, and more generous distributional policies. These contrasting outcomes are related to differences in size and geography, in political culture, and in political institutions. The analysis also considers how much it may be possible for each country’s policymakers to benefit from the other’s experiences. While identifying some lessons in this regard, the authors conclude that the sheer difference in the size of the two economies affects which economic policies can be expected to be effective. As a result, it is concluded that convergence in economic policymaking will remain somewhat limited.

Rural Development Policy: Study Case Green Wine Networks

2010 ◽  
Vol 17 (2) ◽  
pp. 386-399
Author(s):  
Cristina Mititelu ◽  
Ann Joseph ◽  
Claudia Balea
Keyword(s):  
Rural Development ◽  
Development Policy ◽  
Policy Study ◽  
Study Case ◽  
Rural Development Policy

Null-Zins-Politik und PPP: Ein Kaleidoskop zu Fallbeispielen von Markt- und Staatsversagen

2018 ◽  
Vol 87 (3) ◽  
pp. 195-210
Author(s):  
Ernst Mönnich
Keyword(s):  
Waste Water ◽  
Fiscal Policy ◽  
Interest Rate ◽  
Business Models ◽  
Public Private Partnerships ◽  
Central Importance ◽  
Sustainable Fiscal Policy ◽  
Short Period ◽  
Long Term Experience

Zusammenfassung: Seit 2008 bedroht, ausgehend vom Finanzsektor, eine Wirtschaftskrise wie 1929 unser System. Nach kurzen koordinierten fiskalpolitischen Interventionen liegt seit Jahren die Stabilisierungslast allein bei den Zentralbanken. In der Eurozone hält die Null-Zins-Politik nun schon fünf Jahre an. Diese Situation bewirkt wiederum einen Lobbydruck des Finanzsektors für gleichzeitig risikoarme und renditestarke Anlagen zur Stabilisierung des tradierten Geschäftsmodells. Hierfür hat der Investitionsbedarf im Infrastrukturbereich zentrale Bedeutung. Um diesem Mangel Rechnung zu tragen, erscheinen Public Private Partnerships (PPP) eine Win-win-Lösung zu sein. Bevor man dieser Idee folgt, sollten allerdings Langfristerfahrungen zu PPP ausgewertet werden. In diesem Beitrag werden durch eine Aktualisierung von Fallstudien zu PPP im Wasser- und Abwasserbereich Ergebnisse zu den langfristigen finanzwirtschaftlichen Folgen dargestellt. Die Hypothese dieses Beitrages: Empirische Erfahrungen stehen im Gegensatz zur Erwartung einer Win-win-Lösung durch PPP. Summary: Induced by the financial sector in 2008, an economic crisis similar to that of 1929 is threatening our system. After a short period of cooperative fiscal policy, the task of stabilization now rests fully with the EZB. Zero Interest Rate Policies have marked the Euro zone for around five years. This in turn forces the finance sector to lobby for investments with low risks and high profits in order to stabilize traditional business models. The investment gap in infrastructure is hereby of central importance. Public Private Partnerships (PPP) seem to be the win-win solution to fill this gap. Before pursuing this idea, however, it might be wise to evaluate long term experience with PPP. This paper focusses on the long term financial results of PPP in the water and waste water sector. The analysis was made by actualization of broader case studies in this area. The hypothesis in this contribution: Empirical experience does not confirm the expectations of PPP as a win-win solution. The results in brief: Banks and operating agencies are the winners. Municipalities implementing infrastructural measures, along with their customers and fee payers, suffered losses. PPP led to an increase in shadow budgets and therefore these projects are quite the opposite of a sustainable fiscal policy. As such, the paper argues for regulation of PPP projects not only in the investigated area but also for the upcoming Federal Infrastructure Agency and the European Fund for Strategic Investments.

scholarly journals Population Ageing, Public Debt and Sustainable Fiscal Policy

1995 ◽  
Vol 16 (2) ◽  
pp. 1-20 ◽  
Author(s):  
SVEND ERIK HOUGAARD JENSEN ◽  
SOREN BO NIELSEN
Keyword(s):  
Fiscal Policy ◽  
Public Debt ◽  
Population Ageing ◽  
Sustainable Fiscal Policy

scholarly journals Analyzing Fiscal Balance Evolution for Developed and Emerging Countries

2016 ◽  
Vol 63 (3) ◽  
pp. 299-310
Author(s):  
Gheorghita Dinca ◽  
Marius Sorin Dinca ◽  
Catalina Popione
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Current Account ◽  
Public Debt ◽  
Current Account Balance ◽  
Time Interval ◽  
Independent Variables ◽  
Sustainable Fiscal Policy ◽  
Fiscal Balance ◽  
Sustainable Economic Growth

The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment.

Sign in / Sign up

Export Citation Format

Share Document