Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25188
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dc.contributor.authorThams, Andreasen_US
dc.date.accessioned2008-02-19en_US
dc.date.accessioned2009-07-23T14:44:39Z-
dc.date.available2009-07-23T14:44:39Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/25188-
dc.description.abstractThis paper analyzes German and Spanish fiscal policy using simple policy rules. We choose Germany and Spain, as both are Member States in the European Monetary Union (EMU) and underwent considerable increases in public debt in the early 1990s.We focus on the question, how fiscal policy behaves under rising public debt ratios. It is found that both Germany and Spain generally exhibit a positive relationship between government revenues and debt. Using Markov-switching techniques, we show that both countries underwent a change in policy behavior in the light of rising debt/output ratios at the end of the 1990s. Interestingly, this change in policy behavior differs in its characteristics across the two countries and seems to be non-permanent in the case of Germany.en_US
dc.language.isoengen_US
dc.publisher|aSFB 649, Economic Risk|cBerlinen_US
dc.relation.ispartofseries|aSFB 649 discussion paper|x2007,016en_US
dc.subject.jelE62en_US
dc.subject.jelE63en_US
dc.subject.jelE65en_US
dc.subject.ddc330en_US
dc.subject.keywordFiscal policy rulesen_US
dc.subject.keywordpublic debten_US
dc.subject.keywordeuro areaen_US
dc.subject.keywordfiscal consolidationen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwHaushaltskonsolidierungen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwSpanienen_US
dc.subject.stwDeutschlanden_US
dc.titleFiscal policy rules in practiceen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn558531962en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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