Fiscal-Financial Vulnerabilities

Ludger Schuknecht

No 7776, CESifo Working Paper Series from CESifo

Abstract: The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The study argues that the fiscal effects via each and all these channels can be very serious in magnitude and can put the sustainability of public finances at risk. However, there is only limited in–depth analysis of these channels and risks.

Keywords: public debt; deficits; financial stability; fiscal financial linkages; sustainability; asset prices (search for similar items in EconPapers)
JEL-codes: E62 G01 H63 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Fiscal-financial vulnerabilities (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7776

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