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dc.contributor.authorThams, Andreasen
dc.date.accessioned2008-02-19-
dc.date.accessioned2009-07-23T14:44:39Z-
dc.date.available2009-07-23T14:44:39Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2007,016en
dc.subject.jelE62en
dc.subject.jelE63en
dc.subject.jelE65en
dc.subject.ddc330en
dc.subject.keywordFiscal policy rulesen
dc.subject.keywordpublic debten
dc.subject.keywordeuro areaen
dc.subject.keywordfiscal consolidationen
dc.subject.stwFinanzpolitiken
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwHaushaltskonsolidierungen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwSpanienen
dc.subject.stwDeutschlanden
dc.titleFiscal policy rules in practice-
dc.type|aWorking Paperen
dc.identifier.ppn558531962en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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