Fiscal Transfers and Fiscal Sustainability
We examine whether the U.S. and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn model). We show that including/excluding fi...
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| Veröffentlicht in: | Journal of money, credit and banking credit and banking, 2015-08, Vol.47 (5), p.975-1005 |
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| container_end_page | 1005 |
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| container_issue | 5 |
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| container_title | Journal of money, credit and banking |
| container_volume | 47 |
| creator | POTRAFKE, NIKLAS REISCHMANN, MARKUS |
| description | We examine whether the U.S. and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn model). We show that including/excluding fiscal transfers changes the results. If fiscal transfers are not included in the primary surplus, the test results do not indicate that the U.S. and German state governments pursued sustainable fiscal policies. Our results also suggest that fiscal transfers were positively related to debt. These findings indicate that intergovernmental transfers have implicitly subsidized debts. |
| doi_str_mv | 10.1111/jmcb.12231 |
| format | Article |
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These findings indicate that intergovernmental transfers have implicitly subsidized debts.</description><subject>C23</subject><subject>Debt</subject><subject>Deficit financing</subject><subject>Economic models</subject><subject>Fiscal policy</subject><subject>fiscal sustainability</subject><subject>Fiscal transfer</subject><subject>fiscal transfers</subject><subject>Flow control</subject><subject>GDP</subject><subject>Germany</subject><subject>Government</subject><subject>Gross Domestic Product</subject><subject>H72</subject><subject>H74</subject><subject>H77</subject><subject>institutions</subject><subject>International comparisons</subject><subject>panel data</subject><subject>public debt</subject><subject>State government</subject><subject>Studies</subject><subject>Surplus</subject><subject>Sustainability</subject><subject>U.S.A</subject><issn>0022-2879</issn><issn>1538-4616</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2015</creationdate><recordtype>article</recordtype><recordid>eNp90E9LwzAYBvAgCs7pxU8wEEEGnXnzp1mPOtxUtgk6mbeQNim0du1MWnTf3sxOEQ_mEgi_J3nzIHQKeAB-XearJB4AIRT2UAc4HQYshHAfdTAmJCBDER2iI-dyjHHEGXRQf5y5RBW9hVWlS411PVXq3u7wqXG1ykoVZ0VWb47RQaoKZ052exc9j28Wo9tg-jC5G11Ng4RjAgGw2HDNjdFDbDglJE4IxTwCRXjMRKSJpmBYjIlIRJQC03GUatCRIKkIeUy76KK9d22rt8a4Wq78OKYoVGmqxkkQgAlnQ0I9PftD86qxpZ_OK_-AdzTyqt-qxFbOWZPKtc1Wym4kYLmtTW5rk1-1eQwtfs8Ks_lHyvvZ6Po7c95mcldX9nfG_1xIwjgGjJl3QesyV5uPH6fsqwwFFVwu5xM5ny3Gj8sJky_0Expfh6I</recordid><startdate>201508</startdate><enddate>201508</enddate><creator>POTRAFKE, NIKLAS</creator><creator>REISCHMANN, MARKUS</creator><general>Blackwell Publishing Ltd</general><general>Wiley Subscription Services</general><general>Ohio State University Press</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>201508</creationdate><title>Fiscal Transfers and Fiscal Sustainability</title><author>POTRAFKE, NIKLAS ; REISCHMANN, MARKUS</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c5021-14be5d5eed80e5322bc230591a25b479d2d31e4b027c79f14db9fd1d972f765b3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2015</creationdate><topic>C23</topic><topic>Debt</topic><topic>Deficit financing</topic><topic>Economic models</topic><topic>Fiscal policy</topic><topic>fiscal sustainability</topic><topic>Fiscal transfer</topic><topic>fiscal transfers</topic><topic>Flow control</topic><topic>GDP</topic><topic>Germany</topic><topic>Government</topic><topic>Gross Domestic Product</topic><topic>H72</topic><topic>H74</topic><topic>H77</topic><topic>institutions</topic><topic>International comparisons</topic><topic>panel data</topic><topic>public debt</topic><topic>State government</topic><topic>Studies</topic><topic>Surplus</topic><topic>Sustainability</topic><topic>U.S.A</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>POTRAFKE, NIKLAS</creatorcontrib><creatorcontrib>REISCHMANN, MARKUS</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of money, credit and banking</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>POTRAFKE, NIKLAS</au><au>REISCHMANN, MARKUS</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Fiscal Transfers and Fiscal Sustainability</atitle><jtitle>Journal of money, credit and banking</jtitle><addtitle>Journal of Money, Credit and Banking</addtitle><date>2015-08</date><risdate>2015</risdate><volume>47</volume><issue>5</issue><spage>975</spage><epage>1005</epage><pages>975-1005</pages><issn>0022-2879</issn><eissn>1538-4616</eissn><coden>JMCBBT</coden><abstract>We examine whether the U.S. and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. 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| ispartof | Journal of money, credit and banking, 2015-08, Vol.47 (5), p.975-1005 |
| issn | 0022-2879 1538-4616 |
| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete; Jstor Complete Legacy |
| subjects | C23 Debt Deficit financing Economic models Fiscal policy fiscal sustainability Fiscal transfer fiscal transfers Flow control GDP Germany Government Gross Domestic Product H72 H74 H77 institutions International comparisons panel data public debt State government Studies Surplus Sustainability U.S.A |
| title | Fiscal Transfers and Fiscal Sustainability |
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