نتایج جستجو برای: fiscal space
تعداد نتایج: 509447 فیلتر نتایج به سال:
There are controversies regarding the applicability of Modern Money Theory (MMT) to emerging countries. In this paper, we shed light on debate by analyzing monetary sovereignty and fiscal policy regime in Brazil from 1999 2019. An empirical assessment shows government has a considerable ‘degree’ sovereignty. However, rules imposed many restrictions State’s capacity spend, subordinating austerit...
This paper offers a simple, tractable post-Keynesian model, which highlights the importance of structural change and productive development in defining dynamics Real Exchange Rate (RER) foreign debt small open developing economy. The argument is that countries keep capital account rely on austerity policies to induce notional surplus Balance Payment, RER can hardly be used as tool aimed at smoo...
The Expansionary Fiscal Contraction (EFC) hypothesis predicts that a major fiscal consolidation leads to an economic expansion under certain circumstances. We test this hypothesis, and the implied non–linear responses of the economy to large and small changes in fiscal policy, using data from the 1983 Danish fiscal reform. We use a structural VAR/event study methodology following Blanchard and ...
In this paper, we dealt with fiscal dominance, which is a situation in which the fiscal authority sets its expenditure and taxes without regard to any requirement of intertemporal budget balance. Therefore, the monetary authority must adjust its policies to ensure that the government budget is in balance. The existence of oil revenues for the government on the one hand and its lack of access to...
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