expected return on, 21
interest rate on, 27
government investment, 105
Greece
deficit revisions in, 175
reliability of fiscal data, 188
gross government debt
implicit interest rates of, 49
growth dividend, 24, 25, 39
Hallerberg and Strauch, 103
Hamilton and Flavin, 20
Harvey and Trimbur, 190, 191
Harvey-Trimbur cycle, 190
Haveman, 71
Hercowitz and Strawczynski, 105
Hillier, 63
Hjelm, 131
HM Treasury, 61
Hodrick-Prescott filter, 125, 144, 190
IMF, 103, 128
Indicateurs de progrès de l’économie
française, 81
information asymmetry, 183
Institute of Economic Research
(WIFO), 108
interest expenditure, 23, 26, 49, 50
ratio to GDP of, 23
interest payment
in EU15, 48
intertemporal budget balance, 70
intertemporal budget constraint (IBC),
19
intertemporal marginal rate of
substitution, 20
Italy
deficit revisions in, 173
output gap estimates, 193
reliability of fiscal data, 188
Jaeger, 102
Japan
debt development in, 22
Kalman filter, 107, 190, 195
Kamps, 130
Katterl and Kohler-Toglhofer, 112
King and Rebelo, 131
King and Watson, 136
King et al., 135
Kneller et al., 131
Kotlikoff, 69
Kwiatkowski et al., 51
Lane, 105, 152, 153
Latin America
fiscal policy in, 103
life-cycle stage, 67
lifetime net payments, 65
lifetime net tax rate, 64
Linnemann and Schabert, 129
Lippi and Reichlin, 130
Lisbon Strategy, 121
long-term budgetary conditions
reporting of, 81
long-term fiscal indicator, 60
long-term sustainability, 11, 18, 63-66,
81-82, 96, 135
Lüder, 63
Luxembourg
reliability of fiscal data, 188
Maastricht criteria, 23, 38
Maastricht rules, 123, 137, 147
Maastricht Treaty, 19, 22, 39, 59, 101,
121, 187
Marcellino, 150
Mayes and Virén, 104, 105
McCallum, 57
medium-term objectives (MTOs), 11,
18
Mélitz, 105, 196
Milesi-Ferretti, 170, 177
Mitchell, 190, 194, 195
Mohr, 211
monetary union
objective of, 59
Mountford and Uhlig, 130
Musgrave and Musgrave, 57
National Bank of Hungary, 210
National Institute Global Model, 203
Nelson and Plosser, 135
Netherlands
output gap estimates, 193
OECD, 35, 104, 106, 110-111, 115,
125, 128, 133-134, 148-149, 154, 157
fiscal policies in, 104
227
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