|
EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25991
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Schaltegger, Christoph A. | | en_US |
| dc.contributor.author | | Feld, Lars P. | | en_US |
| dc.date.accessioned | | 2007-07-24 | | en_US |
| dc.date.accessioned | | 2009-07-28T08:14:36Z | | - |
| dc.date.available | | 2009-07-28T08:14:36Z | | - |
| dc.date.issued | | 2007 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25991 | | - |
| dc.description.abstract | | A common political claim is that decentralized governments undermine policy makers ability to fight fiscal imbalance. This paper examines how different fiscal institutions influence the likelihood of a successful fiscal adjustment. Using a panel of the Swiss cantons from 1981 to 2001, we first analyze the episodes of tight fiscal policy and their macroeconomic consequences. Then, we empirically investigate the determinants of successful long-lasting deficit reductions. Contrary to the popular claim, we find that fiscal decentralization increases the probability of a successful fiscal consolidation. In addition, the results point to an important role of intergovernmental grants and the circumstances, in particular the size of fiscal imbalance in the years before the consolidation in determining a successful adjustment policy. Furthermore, coalition governments and large parliaments less likely implement successful fiscal stabilizations. Finally, there is some weak evidence that spending cuts are more promising in reaching a long-lasting fiscal adjustment than revenue increases. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | CESifo München | | en_US |
| dc.relation.ispartofseries | | CESifo working paper 1946 | | en_US |
| dc.subject.jel | | E61 | | en_US |
| dc.subject.jel | | E63 | | en_US |
| dc.subject.jel | | H61 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | fiscal adjustment | | en_US |
| dc.subject.keyword | | consolidation policy | | en_US |
| dc.subject.keyword | | fiscal decentralization | | en_US |
| dc.subject.keyword | | fiscal institutions | | en_US |
| dc.subject.stw | | Haushaltskonsolidierung | | en_US |
| dc.subject.stw | | Finanzföderalismus | | en_US |
| dc.subject.stw | | Erfolgsfaktor | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Schweiz | | en_US |
| dc.title | | Are fiscal adjustments less successful in decentralized governments? | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 538085746 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|