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Irregular Receipts Leading to Budget Deficits in Kosovo

References Alesina, A. & Perotti, R. (1994). The political economy of budget deficits, NBER Working Paper, 4637, p. 1-57. Blejer, M. I., & Cheasty, A. (1991). The measurement of fiscal deficits: analytical and methodological issues, Journal of economic literature, 29(4), 1644-1678. Dur, R. A. J., Peletier, B. D., & Swank, O. H. (2000). The Effect of Fiscal Rules on Public Investment if Budget Deficits Are Politically Motivated. In Dur, R. (Ed.), Political Institutions and Economic Policy Choice, Thela Thesis

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Macroeconomic effects of the budget deficit in the Republic of Macedonia

References 1. Barro, R. J. (1989). The Ricardian Approach to Budget Deficits. Journal of Economic Perspectives , Vol. 3, No. 2, pp. 37-54. 2. Barry, F. G., Devereux, M. B. (1992). Crowding Out Effects of Government Spending. The Economic and Social Review , Vol. 23, No. 3, pp. 199-221. 3. Baumohl, E., Lyocsa, S. (2009). Stationarity of time series and the problem of spurious regression. MPRA Paper , No. 27926, pp. 1-16. Available at http://mpra.ub.unimuenchen.de/27926/ [10 May 2018]. 4. Bergman, U. M., Hutchinson, M. (2010

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General Government Debt and Budget Deficit as Threats to Economic Security of the European Union Countries

Abstract

The aim of the article is to present budget deficit and government debt in the European Union member states, with particular consideration of the countries that belong to the PIIGS group. This paper has focused on the scale of these phenomena, on their reasons and on some attempts made to improve the unfavourable situation. In the main thesis presented in the article, it is stated that budget deficit and general government debt come as significant threats to economic security of the European Union (EU) countries. The research methods that have been applied in the study involve descriptive analysis and statistical data analysis.

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(Un)Productive Use of Public Debt in Kosovo

Infrastructure and Growth: New Channels and Policy Implications, World Bank Policy Research Working Paper , No. 4064, p. 1-59 Aisen, A. & Hauner, D. (2008). Budget Deficits and Interest Rates: A Fresh Perspective, IMF Working Papers, No. 08/42, p. 1-19 Aschauer, David Alan (1989a). Is Public Expenditure Productive?, Journal of Monetary Economics , No. 23, p. 177-200 Aschauer, David A. (1989b). Public investment and productivity growth in the Group of Seven, Federal Reserve Bank of Chicago, Economic Perspectives, Vol. 13, No. 5, p. 17-25 Balaj, D

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The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules

://www.caseresearch.eu/sites/default/files/publications/CNSA.pdf Dăianu, D., Kallai, E. V., and Lungu, L., 2011. Euro Plus Pact Adoption: Implications for Romanian Fiscal Policy. Strategy and policy studies, no.2. Bucharest: European Institute of Romania. Enicov, I., Petroia, A., and Cibotaru, I., 2009. Public debt and budget deficit at present: European Union versus Republic of Moldova. Studia Universitatis, Exact and economic sciences, 2(22), 114-119. European Central Bank, 2012. A Fiscal Compact for a Stronger Economic and Monetary Union. Monthly Bulletin, (5). https

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Stock-Flow Adjustment – Only a Residual Value? Evidence from European Union Countries

Perspectives, 26(3), 49-68. Maltritz, D., Wüste, S. (2015). Determinants of Budget Deficits in Europe: The Role and Relations of Fiscal Rules, Fiscal Councils, Creative Accounting and the Euro. Economic Modelling, 48, 222-236. Milesi-Ferretti, G.M., Moriyama, K. (2006). Fiscal Adjustment in EU Countries: a Balance Sheet Approach. Journal of Banking & Finance, 30(12), 3281-3298. Reischmann, M. (2016). Creative Accounting and Electoral Motives: Evidence from OECD Countries. Journal of Comparative Economics, 44(2), 243-257. Seiferling, M.M. (2013). Stock

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A Model to Simulate the Dynamics of Public Debt Sustainability in EU

References Albu, L.-L. (2002): “Sustainability Function”, Romanian Jornal for Economic Forecasting , 2, 5-14. Albu, L.-L. (2008): “A Simulation model of public debt sustainability, MPRA Paper 11713, University Library of Munich, Germany. Barro, R. (1988): “The Ricardian Approach to Budget Deficits”, NBER, Working Paper , no. 2685. Blanchard, O. J. (1990): “Suggestion for a New Set of Fiscal Indicators”, OECD Working Paper , 79. Coricelli, F. (1997): “Fiscal Policy a Long Term View”, Economic Policy Initiative , 3, Forum Report

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Evolution of the Consolidated General Budget and Budget Deficit Between 2012-2016 in Romania

References [1] Georgescu M. A. - Administration of public finances and budget, ed. Pro Universitaria 2011, pag. 182 [2] Art. 10 Law 10/1991 on public finance [3] Law 72/1996 on public finance [4] Paragraph 2. Art 1. Cap.1 Law nr. 500 from July, 11th, 2002 on public finances [5] Paragraph 2 Art 3 Law no. 69 of 16 April 2010 fiscal-budgetary responsibility [6] So as to respect the reference values for budget deficit and public duty, the benchmarks imposed in Protocol

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Balkan Candidate Countries Running for Fiscal Consolidation: Legal Frameworks vs. Economic Results

Abstract

The subject of this paper is four Balkan countries (Albania, Serbia, Macedonia, and Montenegro) that are determined to join the European Union. More particularly, it looks at their work towards accomplishing the political, legal and economic requirements for the EU. Thus, the legislation with the EU Fiscal Compact is the prime focus. Methodologically, the research is based on an assessment of fiscal and monetary legal documents, evaluating the stages of accomplishing the harmonization with the EU’s conditions. Further, cross-section analyses are made by in putting selected indicators; additionally, the authors compare the four countries’ achievements. The EU’s rigorous fiscal rules are being quietly bypassed, but more frequently by existing member states than the candidate states; this statement is founded on legal and economic arguments, with mathematical estimations. Consequently, the authors question the political courage and financial capacity of the examined countries to cope with the fiscal compact of the superior EU 28 members. The answers are supported with numerous analyses of EU Reports for each country, as well as tables and figures that compare the states’ results and economic achievements vs. EU fiscal consolidation rules. The EU 28 average is givenin addition as a comparison. The conclusion gives across analysis between the four countries and the EU 28 member states, with accompanying argumentation to the main statement about the legal and economic developments of the examined Balkan countries as well as a future prognosis.

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The Reaction of Private Spending and Market Interest Rates to the Changes in Public Spending

.571-589. [4] Baldacci, E., Hillman, A.L., Kojo, N.C., 2004. Growth, governance, and fiscal policy transmission channels in low-income countries. European Journal of Political Economy , 20, 3, pp.517-549. [5] Barro, R.J., 1974. Are Government Bonds Net Wealth? Journal of Political Economy , 82, pp.1095-1117. [6] Barro, R.J., 1989. The Ricardian Approach to Budget Deficit. Journal of Economic Perspectives , 3, pp.37-54. [7] Baxter, M., King, R.G., 1993. Fiscal Policy in General Equilibrium. American Economic Review , 83, pp.315

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