The effects of fiscal policy on output: A DSGE analysis

This paper examines the effects of fiscal policy on output in the euro area.

After the Crisis: Bringing German Public Finances Back to a Sustainable Path

Further fiscal easing in late 2008 and early 2009 contributed to a markedly widening fiscal deficit in 2010. A newly enacted fiscal rule will help bring public finances back to a sustainable path, as discussed in this working paper.

Related Documents

• Economic Survey of Germany 2010

Economic Survey of Luxembourg 2010

The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved.

Further Advancing Pro-Growth Tax and Benefit Reform in the Czech Republic

In 2008, the Czech government implemented a major overhaul of the personal income tax (PIT), replacing the previous progressive rate schedule with a single 15% rate levied on an enlarged base.

Related Documents

• Economic Survey of the Czech Republic 2010

Economic Survey of Germany 2010: After the crisis: bringing public finances back to a sustainable path

Past consolidation has allowed the automatic stabilisers operate fully during the crisis. Further fiscal easing in late 2008 and early 2009 contributed to a markedly widening fiscal deficit in 2010.

Preparing fiscal consolidation

The global crisis has resulted in a sharp increase in government indebtedness in many G20 countries. Comprehensive fiscal consolidation strategies are therefore needed to preserve market confidence and pave the way for stronger, more balanced growth in the years to come.

Related Documents

• OECD Economic Outlook No. 86, November 2009

Preparing fiscal consolidation

The global crisis has resulted in a sharp increase in government indebtedness in many G20 countries. Comprehensive fiscal consolidation strategies are therefore needed to preserve market confidence and pave the way for stronger, more balanced growth in the years to come.

Economic Survey of Norway 2010: Addressing the long-term challenges of fiscal policy

Despite substantial income from petroleum wealth, Norway is nevertheless confronted with fiscal challenges in the long term.

Monetary policy responses to the crisis and exit strategies

Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures.

Sub-central governments and the economic crisis: impact and policy responses

The world is recovering from the worst crisis since the Great Depression, leaving a strong and lasting impact on Member countries’ public finances. This paper analyses how sub-central governments are affected and how fiscal policy has reacted in the first months after the outbreak of the crisis.