Objective
The purpose of this research project is to develop a new theoretical framework in evaluating the sustainability of fiscal policy and evolution of debt with particular emphasis on recent European experience. Fiscal or debt sustainability in literature in its most stylized form is defined as satisfying an inter-temporal budget constraint. Although it serves as a useful benchmark lower bound based on 'ability' to pay, this is a very crude approach due to its disregard of many interesting dynamics economic and political sphere contains related to 'willingness' to pay as for political decision makers with limited life spans that depend on public approval, it is really hard to make the distinction between the notions ‘ability’ and ‘willingness’ to pay. In this project we aim to introduce measures and develop a framework that incorporates these neglected dimensions in existing literature. We will do so by building general equilibrium models that endogenize optimal fiscal policy making in environments that have richer preference and constraints structure that resemble what we observe as practical fiscal policy making sphere more. This framework will allow us to investigate the dynamic interaction of fiscal policy with political sphere in the form of preferences and institutional constraints. We will also specifically focus on the evaluation of ‘fiscal rules’ in a dynamic stochastic general equilibrium framework that allows for welfare analysis as well. To be more precise, we will be able to find endogenous sustainability thresholds under different preference and environment scenarios. This will provide us with valuable insights that can be translated into policy sphere and possibly tested against data.
Fields of science (EuroSciVoc)
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-PEOPLE-2011-CIG
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Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MC-CIG - Support for training and career development of researcher (CIG)
Coordinator
06800 Ankara
Türkiye
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.