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Fiscal adjustments and asset price movements

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Author Info

  • Athanasios Tagkalakis

    ()
    (Bank of Greece)

Abstract

This paper examines the links between asset price movements and fiscal adjustments. Our findings suggest that a pick up in asset prices increases the probability of initiating a fiscal adjustment, but it does not necessarily lead to a sustainable correction of fiscal imbalances. However, higher real equity prices increase the probability of success.

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File URL: http://www.bankofgreece.gr/BogEkdoseis/Paper2009104.pdf
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Bibliographic Info

Paper provided by Bank of Greece in its series Working Papers with number 104.

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Length: 24 pages
Date of creation: Oct 2009
Date of revision:
Handle: RePEc:bog:wpaper:104

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Web page: http://www.bankofgreece.gr
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Related research

Keywords: Asset prices; fiscal adjustments;

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Cited by:
  1. Borys, Paweł & Ciżkowicz, Piotr & Rzońca, Andrzej, 2013. "Panel data evidence on effects of fiscal impulses in the EU New Member States," MPRA Paper 48243, University Library of Munich, Germany.
  2. Vasilis Droucopoulos & Panagiotis Chronis, 2010. "“Assessing market dominance”: a comment and an extension," Working Papers 109, Bank of Greece.
  3. Paweł Borys & Piotr Ciżkowicz & Andrzej Rzońca, 2013. "Panel data evidence on the effects of fiscal impulses in the EU New Member States," National Bank of Poland Working Papers 161, National Bank of Poland, Economic Institute.
  4. Vassilis Th. Rapanoss & Georgia Kaplanoglou, 2010. "Independent Fiscal Councils and Their Possible Role in Greece," Economic Bulletin, Bank of Greece, Economic Research Department, issue 33, pages 7-20, May.
  5. Petros M Migiakis, 2010. "Determinants of the Greek stock-bond correlation," Economic Bulletin, Bank of Greece, Economic Research Department, issue 33, pages 79-90, May.
  6. Athanasios Tagkalakis, 2009. "The effect of asset price volatility on fiscal policy outcomes," Working Papers 106, Bank of Greece.
  7. Borys, Paweł & Ciżkowicz, Piotr & Rzońca, Andrzej, 2011. "Panel data evidence on non-Keynesian efects of fiscal policy in the EU New Member," MPRA Paper 32696, University Library of Munich, Germany.
  8. Theodore Mitrakos & Panos Tsakloglou & Ioannis Cholezas, 2010. "Determining factors of youth unemployment in Greece with emphasis on tertiary education graduates," Economic Bulletin, Bank of Greece, Economic Research Department, issue 33, pages 21-62, May.
  9. Hiona Balfoussia & Heather Gibson, 2010. "Inflation and Nominal Uncertainty: the case of Greece," Economic Bulletin, Bank of Greece, Economic Research Department, issue 33, pages 63-78, May.

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