Fiscal adjustments and asset price movements

Athanasios Tagkalakis

No 104, Working Papers from 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.

Keywords: Asset prices; fiscal adjustments (search for similar items in EconPapers)
JEL-codes: E32 E61 E62 H61 H62 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2009-10
New Economics Papers: this item is included in nep-cba and nep-mac
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:bog:wpaper:104

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