منابع مشابه
Measuring Fiscal Sustainability
We propose an index of the fiscal stance that is convenient for practical use. It is based on a finite time horizon, not on an infinite time horizon like most tests. As it employs VAR analysis it is simple to compute and easily automated. We also show how it is possible to analyse a change of policy within a VAR framework. We use this methodology to examine the effect on fiscal sustainability o...
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We study the implications of fiscal policy behavior for sovereign risk in a framework that develops a country’s fiscal limit, the point at which for economic or political reasons taxes and spending can no longer adjust to stabilize debt. A real business cycle model maps the economic environment—expected fiscal policy, the distribution of exogenous disturbances, and private agents’ behavior—into...
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The search for “fiscal indicators” to provide a short-hand (and preferably quantitative) picture of the size, direction, and nature of intergovernmental finance – and, ideally, some guidance for policy designed to improve outcomes – appears to be neverending. “Fiscal balance” and “fiscal sustainability” are, for example, terms commonly heard in discussions of intergovernmental fiscal relations....
متن کاملImmigration, Integration and Fiscal Sustainability
Economic theory points out that immigration of even low-skilled immigrants may improve public finances in Western welfare states, and it is some times suggested that fiscal sustainability problems in Western countries caused by ageing populations could be solved by increasing immigration. We examine consequences of various immigration scenarios using the large-scale computable general equilibri...
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This paper evaluates the sustainability of Danish fiscal policy for a given demographic development. The total population forecast is the sum of individual forecasts for 5 different origin groups including immigrants and descendents of immigrants. Results are that the demographic dependency ratio increases and has a local maximum around 2040. However, the level of the dependency ratio remains p...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2000
ISSN: 0014-2921
DOI: 10.1016/s0014-2921(99)00035-5