Search results for "Fiscal Sustainability"
showing 3 items of 13 documents
Fiscal sustainability in the EU: From the short-term risk to the long-term challenge
2015
Abstract The paper analyses fiscal sustainability of public debt using a dynamic computable general equilibrium model. First, we identify the short-term risk for fiscal stress at country level; second, we investigate the assumption of convergence towards the government debt threshold (medium-term challenge); and, third, the requirement that debt projections do not show unsustainable trends (long-term challenge). The empirical implementation includes 18 EU Member States. Our findings show that the constant tax rate that stabilizes the public debt converges to 50 percentage of GDP for all the sample countries and tax revenues are the main driving forces for fiscal sustainability. Also our fin…
Do Fiscal Rules Constrain Fiscal Policy in Romania?
2020
At both macroeconomic and national level, in recent decades, European tax policies have shown a particular interest in addressing the spectrum of risk issues in terms of maturing the business environment and the lack of sustainable development of the economy. In Romania there has been a significant increase in public debt, which is increasingly threatening fiscal sustainability. This is due to fiscal rules that restrict the applicability of fiscal policy to balancing the national economy. However, fiscal policy did not act in the direction of economic recovery during the crisis that started in the last quarter of 2008, which had a negative impact on the Romanian business environment. Object…
Enhancing Joined-Up Government and Outcome-Based Performance Management through System Dynamics Modelling to Deal with Wicked Problems: the Case of S…
2015
The paper by Auping et al. (2015) focuses on the topic of societal ‘ageing’, that is, ‘a population process, caused by declining fertility and mortality rates, which manifests itself in the growing number of older persons in society’ (Huber, 2005). A broader definition frames societal ageing as a ‘demographic, structural, cultural and economic transformation resultant from the increase in the number and proportion of “older” people within society’ (Victor, 2005, p. 5). ‘Double societal ageing’ today characterizes most developed countries, which experience both an increase in the percentage of older people and in their life expectancy. In terms of public policy and finance, the relevance of …