000077072 001__ 77072
000077072 005__ 20240126182118.0
000077072 0247_ $$2doi$$a10.1016/j.eeh.2018.12.002
000077072 0248_ $$2sideral$$a109640
000077072 037__ $$aART-2019-109640
000077072 041__ $$aeng
000077072 100__ $$0(orcid)0000-0002-9047-4853$$aSabaté Sort, Marcela$$uUniversidad de Zaragoza
000077072 245__ $$aBudget deficits and money creation: Exploring their relation before Bretton Woods
000077072 260__ $$c2019
000077072 5060_ $$aAccess copy available to the general public$$fUnrestricted
000077072 5203_ $$aThe sovereign debt crisis in the Eurozone has rekindled the use of the North–South (core-periphery) terminology to refer to the heterogeneity of countries belonging to the Economic and Monetary Union (EMU). In the gold standard literature, this geographical partition had already been employed to oppose the fiscal profligacy and subsequent problems of convertibility of southern countries against the fiscal probity and long convertibility records of their northern counterparts. We provide statistical evidence that the group of countries that, with available data for 1870–1938, exhibited convertibility problems during the classical gold standard, for this reason called the pre-WWI “sometimes-floaters”, shared a pattern of fiscal dominance. This finding for the sometimes-floaters (southern European and South American countries plus Japan) differs from the non-fiscal dominance pattern that we obtain for the pre-WWI “never-floaters” (northern Europe and North America countries) when the Great War and its aftermath years are omitted. We also show that the presence of fiscal dominance was partly due to the lower levels of tax efficiency and political stability in the South.
000077072 536__ $$9info:eu-repo/grantAgreement/ES/MINECO/HAR2015-67017$$9info:eu-repo/grantAgreement/ES/DGA/S44-17R
000077072 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000077072 590__ $$a1.411$$b2019
000077072 592__ $$a1.699$$b2019
000077072 591__ $$aHISTORY OF SOCIAL SCIENCES$$b3 / 34 = 0.088$$c2019$$dQ1$$eT1
000077072 593__ $$aHistory$$c2019$$dQ1
000077072 591__ $$aECONOMICS$$b187 / 371 = 0.504$$c2019$$dQ3$$eT2
000077072 593__ $$aEconomics and Econometrics$$c2019$$dQ1
000077072 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000077072 700__ $$0(orcid)0000-0002-9076-3743$$aFillat, Carmen$$uUniversidad de Zaragoza
000077072 700__ $$0(orcid)0000-0003-2131-7851$$aEscario, Regina$$uUniversidad de Zaragoza
000077072 7102_ $$14008$$2225$$aUniversidad de Zaragoza$$bDpto. Estruc.Hª Econ.y Eco.Pb.$$cÁrea Economía Aplicada
000077072 773__ $$g72 (2019), 38-56$$pExplor. econ. hist.$$tEXPLORATIONS IN ECONOMIC HISTORY$$x0014-4983
000077072 8564_ $$s1455496$$uhttps://zaguan.unizar.es/record/77072/files/texto_completo.pdf$$yPostprint
000077072 8564_ $$s2132530$$uhttps://zaguan.unizar.es/record/77072/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000077072 909CO $$ooai:zaguan.unizar.es:77072$$particulos$$pdriver
000077072 951__ $$a2024-01-26-18:17:10
000077072 980__ $$aARTICLE