메뉴 건너뛰기




Volumn 29, Issue , 2013, Pages 197-213

The effects of financial crisis on fiscal positions

Author keywords

Financial crisis; Fiscal policy; Public debt

Indexed keywords


EID: 84870914729     PISSN: 01762680     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ejpoleco.2012.11.002     Document Type: Article
Times cited : (31)

References (55)
  • 1
    • 80052011147 scopus 로고    scopus 로고
    • Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness
    • Afonso A., Hauptmeier S. Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness. ECB Working Paper, No. 1054 2009.
    • (2009) ECB Working Paper, No. 1054
    • Afonso, A.1    Hauptmeier, S.2
  • 3
    • 84881844837 scopus 로고
    • Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations
    • Arellano M., Bond S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 1991, 58:277-297.
    • (1991) Review of Economic Studies , vol.58 , pp. 277-297
    • Arellano, M.1    Bond, S.2
  • 4
    • 58149364940 scopus 로고
    • Another look at the instrumental variables estimation of error-components models
    • Arellano M., Bover O. Another look at the instrumental variables estimation of error-components models. Journal of Econometrics 1995, 68:29-51.
    • (1995) Journal of Econometrics , vol.68 , pp. 29-51
    • Arellano, M.1    Bover, O.2
  • 6
    • 84890932745 scopus 로고    scopus 로고
    • Measuring fiscal vulnerability and fiscal stress: a proposed set of indicators
    • Baldacci E., McHugh J., Petrova I. Measuring fiscal vulnerability and fiscal stress: a proposed set of indicators. IMF Working Paper, No. 94 2011.
    • (2011) IMF Working Paper, No. 94
    • Baldacci, E.1    McHugh, J.2    Petrova, I.3
  • 8
    • 77955752493 scopus 로고    scopus 로고
    • Financial institutions and markets across countries and over time: the updated financial development and structure database
    • Beck T., Demirguc-Kunt A., Levine R. Financial institutions and markets across countries and over time: the updated financial development and structure database. The World Bank Economic Review 2010, 24(1):77-92.
    • (2010) The World Bank Economic Review , vol.24 , Issue.1 , pp. 77-92
    • Beck, T.1    Demirguc-Kunt, A.2    Levine, R.3
  • 9
    • 77954372417 scopus 로고    scopus 로고
    • Fiscal adjustment to cyclical developments in the OECD: an empirical analysis based on real-time data
    • Beetsma R., Giuliodori M. Fiscal adjustment to cyclical developments in the OECD: an empirical analysis based on real-time data. Oxford Economic Papers 2010, 62:419-441.
    • (2010) Oxford Economic Papers , vol.62 , pp. 419-441
    • Beetsma, R.1    Giuliodori, M.2
  • 11
    • 0036866084 scopus 로고    scopus 로고
    • An empirical characterization of the dynamic effects of changes in government spending and taxes on output
    • Blanchard O., Perotti R. An empirical characterization of the dynamic effects of changes in government spending and taxes on output. Quarterly Journal of Economics 2002, 117:1329-1368.
    • (2002) Quarterly Journal of Economics , vol.117 , pp. 1329-1368
    • Blanchard, O.1    Perotti, R.2
  • 12
    • 0001438979 scopus 로고    scopus 로고
    • Initial conditions and moment restrictions in dynamic panel data models
    • Blundell R.W., Bond S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 1998, 87:115-143.
    • (1998) Journal of Econometrics , vol.87 , pp. 115-143
    • Blundell, R.W.1    Bond, S.2
  • 13
    • 36049013128 scopus 로고    scopus 로고
    • Dynamic panel data models: a guide to micro data methods and practice
    • Bond S. Dynamic panel data models: a guide to micro data methods and practice. CEMMAP, Working Paper, No. CWP09/02 2002.
    • (2002) CEMMAP, Working Paper, No. CWP09/02
    • Bond, S.1
  • 14
    • 77953251319 scopus 로고    scopus 로고
    • Fiscal policy and monetary integration in Europe: an update
    • Candelon B., Muysken J., Vermeulen R. Fiscal policy and monetary integration in Europe: an update. Oxford Economic Papers 2010, 62:323-349.
    • (2010) Oxford Economic Papers , vol.62 , pp. 323-349
    • Candelon, B.1    Muysken, J.2    Vermeulen, R.3
  • 15
    • 84870862686 scopus 로고    scopus 로고
    • On the properties of various estimators for fiscal reaction functions
    • Celasun O., Kang J.S. On the properties of various estimators for fiscal reaction functions. IMF, Working Paper, No.182 2006.
    • (2006) IMF, Working Paper, No.182
    • Celasun, O.1    Kang, J.S.2
  • 16
    • 34247184117 scopus 로고    scopus 로고
    • Primary surplus behavior and risks to fiscal sustainability in emerging market countries: a "fan chart" approach
    • Celasun O., Debrun X., Ostry J.D. Primary surplus behavior and risks to fiscal sustainability in emerging market countries: a "fan chart" approach. IMF, Working Paper No.67 2006.
    • (2006) IMF, Working Paper No.67
    • Celasun, O.1    Debrun, X.2    Ostry, J.D.3
  • 17
    • 77957196992 scopus 로고    scopus 로고
    • How well do aggregate prudential ratios identify banking system problems?
    • Cihak M., Schaeck K. How well do aggregate prudential ratios identify banking system problems?. Journal of Financial Stability 2010, 6:130-144.
    • (2010) Journal of Financial Stability , vol.6 , pp. 130-144
    • Cihak, M.1    Schaeck, K.2
  • 18
    • 84928856456 scopus 로고    scopus 로고
    • Crisis resolution, policies, and institutions
    • Cambridge University Press, P. Honohan, L. Laeven (Eds.) Systemic Financial Crises
    • Claessens S., Klingebiel D., Laeven L. Crisis resolution, policies, and institutions. Containment and Resolution 2005, 169-194. Cambridge University Press. P. Honohan, L. Laeven (Eds.).
    • (2005) Containment and Resolution , pp. 169-194
    • Claessens, S.1    Klingebiel, D.2    Laeven, L.3
  • 22
    • 84881826471 scopus 로고    scopus 로고
    • Responding to banking crises: lessons from cross-country evidence
    • Detragiache E., Ho G. Responding to banking crises: lessons from cross-country evidence. IMF, Working Paper, No 18 2010.
    • (2010) IMF, Working Paper, No 18
    • Detragiache, E.1    Ho, G.2
  • 23
    • 84870918944 scopus 로고    scopus 로고
    • Explaining Growth Volatility. Annual Bank Conference on Development Economics. World Bank, Washington DC
    • Easterly W., Islam R., Stiglitz J. Shaken and Stirred 2000, Explaining Growth Volatility. Annual Bank Conference on Development Economics. World Bank, Washington DC.
    • (2000) Shaken and Stirred
    • Easterly, W.1    Islam, R.2    Stiglitz, J.3
  • 24
    • 77952606449 scopus 로고    scopus 로고
    • European Commission, Brussels, European Commission
    • European Commission European Economic Forecast: Autumn 2009, European Commission, Brussels.
    • (2009) European Economic Forecast: Autumn
  • 25
    • 84870952276 scopus 로고    scopus 로고
    • Public finances in EMU
    • European Commission, Brussels, European Commission
    • European Commission Public finances in EMU. European Economy No 3 2009, European Commission, Brussels.
    • (2009) European Economy No 3
  • 26
    • 84870932363 scopus 로고    scopus 로고
    • European Commission, Brussels, (No.3), European Commission
    • European Commission Quarterly Report on the Euro Area 2011, vol. 10. European Commission, Brussels, (No.3).
    • (2011) Quarterly Report on the Euro Area , vol.10
  • 31
    • 0242306004 scopus 로고    scopus 로고
    • Fiscal policy and monetary integration in Europe
    • Gali J., Perotti R. Fiscal policy and monetary integration in Europe. Economic Policy 2003, 18:533-572.
    • (2003) Economic Policy , vol.18 , pp. 533-572
    • Gali, J.1    Perotti, R.2
  • 32
    • 79959939838 scopus 로고    scopus 로고
    • What determines debt intolerance? The role of political and monetary institutions
    • Giordano R., Tommasino P. What determines debt intolerance? The role of political and monetary institutions. European Journal of Political Economy 2011, 27:471-484.
    • (2011) European Journal of Political Economy , vol.27 , pp. 471-484
    • Giordano, R.1    Tommasino, P.2
  • 33
    • 65249189236 scopus 로고    scopus 로고
    • The cyclical reaction of fiscal policies in the euro area: the role of modeling choices and data vintages
    • Golinelli R., Momigliano S. The cyclical reaction of fiscal policies in the euro area: the role of modeling choices and data vintages. Fiscal Studies 2009, 30:39-72.
    • (2009) Fiscal Studies , vol.30 , pp. 39-72
    • Golinelli, R.1    Momigliano, S.2
  • 34
    • 0037634147 scopus 로고    scopus 로고
    • The fiscal cost implications of an accommodating approach to banking crises
    • Honohan P., Klingebiel D. The fiscal cost implications of an accommodating approach to banking crises. Journal of Banking and Finance 2003, 27:1539-1560.
    • (2003) Journal of Banking and Finance , vol.27 , pp. 1539-1560
    • Honohan, P.1    Klingebiel, D.2
  • 35
    • 84870896870 scopus 로고    scopus 로고
    • Debt bias and other distortions: crisis-related issues in tax policy
    • IMF, Washington, (June), IMF
    • IMF Debt bias and other distortions: crisis-related issues in tax policy. IMF's Fiscal Affairs Department 2009, IMF, Washington, (June).
    • (2009) IMF's Fiscal Affairs Department
  • 36
    • 84870937305 scopus 로고    scopus 로고
    • The IMF-FSB early warning exercise
    • (September 2010, available online at:, IMF
    • IMF The IMF-FSB early warning exercise. Design and Methodological Toolkit 2011, (September 2010, available online at: http://www.imf.org/external/np/pp/eng/2010/090110.pdf).
    • (2011) Design and Methodological Toolkit
  • 37
    • 0039624712 scopus 로고    scopus 로고
    • The twin crises: the causes of banking and balance-of-payments problems
    • Kaminsky G.L., Reinhart C.M. The twin crises: the causes of banking and balance-of-payments problems. American Economic Review 1999, 89:473-500.
    • (1999) American Economic Review , vol.89 , pp. 473-500
    • Kaminsky, G.L.1    Reinhart, C.M.2
  • 39
    • 78049304619 scopus 로고    scopus 로고
    • EMU and the Greek crisis: the political-economy perspective
    • Katsimi M., Moutos T. EMU and the Greek crisis: the political-economy perspective. European Journal of Political Economy 2010, 26:568-576.
    • (2010) European Journal of Political Economy , vol.26 , pp. 568-576
    • Katsimi, M.1    Moutos, T.2
  • 41
    • 84870875653 scopus 로고    scopus 로고
    • OECD, Paris, Organization of Economic Cooperation and Development
    • Organization of Economic Cooperation and Development Economic Outlook, No 89 2011, OECD, Paris.
    • (2011) Economic Outlook, No 89
  • 43
    • 0040437341 scopus 로고    scopus 로고
    • Fiscal policy in good times and bad
    • Perotti R. Fiscal policy in good times and bad. Quarterly Journal of Economics 1999, 114:1399-1436.
    • (1999) Quarterly Journal of Economics , vol.114 , pp. 1399-1436
    • Perotti, R.1
  • 48
    • 68149179207 scopus 로고    scopus 로고
    • How to do xtabond2: an introduction to difference and system GMM in Stata
    • Roodman D. How to do xtabond2: an introduction to difference and system GMM in Stata. The Stata Journal 2009, 9:86-136.
    • (2009) The Stata Journal , vol.9 , pp. 86-136
    • Roodman, D.1
  • 49
    • 61849149295 scopus 로고    scopus 로고
    • Are fiscal adjustments less successful in decentralized governments?
    • Schaltegger C.A., Feld L.A. Are fiscal adjustments less successful in decentralized governments?. European Journal of Political Economy 2009, 25:115-123.
    • (2009) European Journal of Political Economy , vol.25 , pp. 115-123
    • Schaltegger, C.A.1    Feld, L.A.2
  • 50
    • 77957924120 scopus 로고    scopus 로고
    • The fiscal costs of financial instability revisited
    • Schuknecht L., Eschenbanch F. The fiscal costs of financial instability revisited. Economic Policy 2004, 14:313-346.
    • (2004) Economic Policy , vol.14 , pp. 313-346
    • Schuknecht, L.1    Eschenbanch, F.2
  • 51
    • 40849104965 scopus 로고    scopus 로고
    • The effects of fiscal policy on consumption in recessions and expansions
    • Tagkalakis A. The effects of fiscal policy on consumption in recessions and expansions. Journal of Public Economics 2008, 92:1486-1508.
    • (2008) Journal of Public Economics , vol.92 , pp. 1486-1508
    • Tagkalakis, A.1
  • 52
    • 77957905252 scopus 로고    scopus 로고
    • Fiscal policy and financial market movements
    • Tagkalakis A. Fiscal policy and financial market movements. Journal of Banking and Finance 2011, 35:231-251.
    • (2011) Journal of Banking and Finance , vol.35 , pp. 231-251
    • Tagkalakis, A.1
  • 54
    • 79952695569 scopus 로고    scopus 로고
    • Government bond risk premiums in the EU revisited: the impact of the financial crisis
    • Von Hagen J., Schuknecht L., Wolswijk G. Government bond risk premiums in the EU revisited: the impact of the financial crisis. European Journal of Political Economy 2011, 27:36-43.
    • (2011) European Journal of Political Economy , vol.27 , pp. 36-43
    • Von Hagen, J.1    Schuknecht, L.2    Wolswijk, G.3
  • 55
    • 0003926535 scopus 로고    scopus 로고
    • World Bank, World Bank
    • World Bank World Development Indicators 2011, World Bank, (http://data.worldbank.org/indicator/FS.AST.PRVT.GD.ZS).
    • (2011) World Development Indicators


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.