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"Beggar-Thy-Neighbor" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations

Author: Kodjovi M Eklou
Publisher: Groupe de recherche en �economie et d�eveloppement international, [Place of publication not identified] : Groupe de recherche en économie et développement international, 2015.
Series: desLibris.
Edition/Format:   eBook : Document : English
Summary:
In a globalized world, countries are exposed to policy shocks from abroad. This paper investigates the cross-border effect of fiscal consolidations taking place in two safe assets countries (Germany and the USA). Cross-border spillovers are defined as the results of fiscal consolidation shocks in Germany or USA which are transmitted to peripheral countries. We consider two levels of analysis: the external effect of  Read more...
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Genre/Form: Electronic books
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Kodjovi M Eklou
OCLC Number: 981099230
Notes: Title from content provider.
Description: 1 online resource
Series Title: desLibris.
Responsibility: Eklou, Kodjovi M.
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Abstract:

In a globalized world, countries are exposed to policy shocks from abroad. This paper investigates the cross-border effect of fiscal consolidations taking place in two safe assets countries (Germany and the USA). Cross-border spillovers are defined as the results of fiscal consolidation shocks in Germany or USA which are transmitted to peripheral countries. We consider two levels of analysis: the external effect of US fiscal consolidations on other OECD countries and the external effect of German fiscal consolidations on other Eurozone countries. The "beggar-thy-neighbor" effect in this context means that a reduction of the public debt in a safe asset country as a consequence of a fiscal consolidation plan may generate an increase in the public debt abroad. We suggest a financial market mechanism composed by two steps. First, a fiscal consolidation by reducing government bond issuance in the safe asset countries may generate an excess of demand in the financial market which may then reduce the borrowingcost.

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Primary Entity<\/h3>\n
<http:\/\/www.worldcat.org\/oclc\/981099230<\/a>> # \"Beggar-Thy-Neighbor\" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Book<\/a>, schema:MediaObject<\/a>, schema:CreativeWork<\/a> ;\u00A0\u00A0\u00A0\nlibrary:oclcnum<\/a> \"981099230<\/span>\" ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Place\/place_of_publication_not_identified<\/a>> ; # Place of publication not identified<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Place\/canada<\/a>> ; # Canada.<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/government_debt<\/a>> ; # Government debt<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/political_planning_canada<\/a>> ; # Political planning--Canada<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/eurozone<\/a>> ; # Eurozone<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/current_account<\/a>> ; # Current account<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/political_planning<\/a>> ; # Political planning<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/interest_rate<\/a>> ; # Interest rate<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/finance<\/a>> ; # Finance<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/interest<\/a>> ; # Interest<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/bond_finance<\/a>> ; # Bond (finance)<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/economics<\/a>> ; # Economics<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/gross_domestic_product<\/a>> ; # Gross domestic product<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/economy<\/a>> ; # Economy<\/span>\n\u00A0\u00A0\u00A0\nschema:bookFormat<\/a> schema:EBook<\/a> ;\u00A0\u00A0\u00A0\nschema:creator<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Person\/eklou_kodjovi_m<\/a>> ; # Kodjovi M. Eklou<\/span>\n\u00A0\u00A0\u00A0\nschema:datePublished<\/a> \"2015<\/span>\" ;\u00A0\u00A0\u00A0\nschema:description<\/a> \"In a globalized world, countries are exposed to policy shocks from abroad. This paper investigates the cross-border effect of fiscal consolidations taking place in two safe assets countries (Germany and the USA). Cross-border spillovers are defined as the results of fiscal consolidation shocks in Germany or USA which are transmitted to peripheral countries. We consider two levels of analysis: the external effect of US fiscal consolidations on other OECD countries and the external effect of German fiscal consolidations on other Eurozone countries. The \"beggar-thy-neighbor\" effect in this context means that a reduction of the public debt in a safe asset country as a consequence of a fiscal consolidation plan may generate an increase in the public debt abroad. We suggest a financial market mechanism composed by two steps. First, a fiscal consolidation by reducing government bond issuance in the safe asset countries may generate an excess of demand in the financial market which may then reduce the borrowingcost.<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/4151214649<\/a>> ;\u00A0\u00A0\u00A0\nschema:genre<\/a> \"Electronic books<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Series\/deslibris<\/a>> ; # desLibris.<\/span>\n\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Series\/<\/a>> ; # <\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"\"Beggar-Thy-Neighbor\" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"981099230<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publication<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/981099230#PublicationEvent\/place_of_publication_not_identified_groupe_de_recherche_en_economie_et_developpement_international_2015<\/a>> ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Agent\/groupe_de_recherche_en_economie_et_developpement_international<\/a>> ; # Groupe de recherche en \u00E9conomie et d\u00E9veloppement international<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/books.scholarsportal.info\/viewdoc.html?id=\/ebooks\/ebooks0\/gibson_cppc-chrc\/2017-10-02\/5\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/proxy.library.carleton.ca\/loginurl=https:\/\/www.deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <https:\/\/deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/proxy.library.brocku.ca\/login?url=http:\/\/books.scholarsportal.info\/viewdoc.html?id=\/ebooks\/ebooks0\/gibson_cppc-chrc\/2017-10-02\/5\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/dproxy.library.dc-uoit.ca\/login?url=http:\/\/www.deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/gredi.recherche.usherbrooke.ca\/wpapers\/GREDI-1511.pdf<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <https:\/\/www.deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <https:\/\/login.library.sheridanc.on.ca\/login?url=https:\/\/www.deslibris.ca\/ID\/10063230<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/981099230<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Related Entities<\/h3>\n
<http:\/\/dproxy.library.dc-uoit.ca\/login?url=http:\/\/www.deslibris.ca\/ID\/10063230<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"eBook available for Durham College via DesLibris. Click link to access<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Agent\/groupe_de_recherche_en_economie_et_developpement_international<\/a>> # Groupe de recherche en \u00E9conomie et d\u00E9veloppement international<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:Agent<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Groupe de recherche en \u00E9conomie et d\u00E9veloppement international<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Person\/eklou_kodjovi_m<\/a>> # Kodjovi M. Eklou<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Eklou<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Kodjovi M.<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Kodjovi M. Eklou<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Place\/canada<\/a>> # Canada.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Canada.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Place\/place_of_publication_not_identified<\/a>> # Place of publication not identified<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Place of publication not identified<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Series\/<\/a>> # <\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/981099230<\/a>> ; # \"Beggar-Thy-Neighbor\" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Series\/deslibris<\/a>> # desLibris.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/981099230<\/a>> ; # \"Beggar-Thy-Neighbor\" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"desLibris.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/bond_finance<\/a>> # Bond (finance)<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Bond (finance)<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/current_account<\/a>> # Current account<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Current account<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/economics<\/a>> # Economics<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Economics<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/economy<\/a>> # Economy<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Economy<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/eurozone<\/a>> # Eurozone<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Eurozone<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/finance<\/a>> # Finance<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Finance<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/government_debt<\/a>> # Government debt<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Government debt<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/gross_domestic_product<\/a>> # Gross domestic product<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Gross domestic product<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/interest<\/a>> # Interest<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Interest<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/interest_rate<\/a>> # Interest rate<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Interest rate<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/political_planning<\/a>> # Political planning<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Political planning<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Topic\/political_planning_canada<\/a>> # Political planning--Canada<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Political planning--Canada<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/gredi.recherche.usherbrooke.ca\/wpapers\/GREDI-1511.pdf<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"Document originally acquired from<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/proxy.library.brocku.ca\/login?url=http:\/\/books.scholarsportal.info\/viewdoc.html?id=\/ebooks\/ebooks0\/gibson_cppc-chrc\/2017-10-02\/5\/10063230<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"Read this online.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/981099230<\/a>>\u00A0\u00A0\u00A0\u00A0a \ngenont:InformationResource<\/a>, genont:ContentTypeGenericResource<\/a> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/www.worldcat.org\/oclc\/981099230<\/a>> ; # \"Beggar-Thy-Neighbor\" Effect in Public Debts? Evidence from Cross-Border Spillovers of Fiscal Consolidations<\/span>\n\u00A0\u00A0\u00A0\nschema:dateModified<\/a> \"2020-08-09<\/span>\" ;\u00A0\u00A0\u00A0\nvoid:inDataset<\/a> <http:\/\/purl.oclc.org\/dataset\/WorldCat<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/981099230#PublicationEvent\/place_of_publication_not_identified_groupe_de_recherche_en_economie_et_developpement_international_2015<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:PublicationEvent<\/a> ;\u00A0\u00A0\u00A0\nschema:location<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Place\/place_of_publication_not_identified<\/a>> ; # Place of publication not identified<\/span>\n\u00A0\u00A0\u00A0\nschema:organizer<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/4151214649#Agent\/groupe_de_recherche_en_economie_et_developpement_international<\/a>> ; # Groupe de recherche en \u00E9conomie et d\u00E9veloppement international<\/span>\n\u00A0\u00A0\u00A0\nschema:startDate<\/a> \"2015<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n