Open research questions in Fiscal Policies and Political Economy
262 gap statements mined from Fiscal Policies and Political Economy papers in our 7.9M-paper local library, which holds 3,374 papers on the topic — drawn mostly from each paper's own stated research gap, future-work, challenge and limitation notes, and its abstract. The ones listed below are a selection still marked open; each names the study that raised it, with a DOI link where the paper has one.
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What the literature leaves open
Finally, these findings may serve as a benchmark for economies similar to Brazil, and future research should explore whether these relationships hold in broader samples. In turn, the impact of actual fiscal rule breaches on inflation expectations is limited to the 12- and 24-month horizons, with the effect size decreasing as the forecast horizon increases.
Violating Fiscal Rules: Implications for Inflation, Expectations, and Monetary Credibility · 2026 · DOIThe lack of a comprehensive understanding of the debt-health nexus. The mixed findings in the existing literature on the relationship between public debt and health expenditure. The need for a theoretical framework that can reconcile the mixed findings.
Stock neutrality, flow crowding-out, and state dependence: revisiting the debt–health nexus in OECD Europe · 2026 · DOIIn particular, an interplay between the fiscal responses and varying efficacy of vaccine distributions in the later phase of the pandemic could be studied.
Future research can apply the study's methodology to other municipal corporations to analyze their expenditure patterns. Future research can explore the impact of different factors on municipal expenditure patterns.
The study highlights the need for more balanced investment across sectors in future planning.
The prevailing narrative in European economic debate suggests that fiscal discipline is necessary for debt sustainability, but the analysis reveals a paradox. The paper identifies a gap in the understanding of the relationship between fiscal policies and debt dynamics.
Future research should investigate the impact of fiscal seasonality on public sector efficiency in other contexts. Future research should explore the use of other techniques, such as stochastic frontier analysis, to analyze public sector efficiency.
The study notes that prior research has not fully considered the impact of fiscal seasonality on the effectiveness of incentive systems.
The paper suggests that future research should focus on developing more sustainable economic systems. It highlights the need for a more critical analysis of the current economic system and its limitations.
It highlights the need for a more radical approach to debt forgiveness and resource management.
The MINT countries need to manage their fiscal resources to support growth-related aspirations. Fiscal sustainability practices are necessary for the MINT countries.
Fiscal Space, Public Debt Sustainability and Economic Growth: Empirical Inference from the MINT Countries · 2026 · DOIThe PVAR model is limited in its ability to account for heterogeneity and cross-sectional dependence. The model does not consider potential cross-sectional dependencies among panel members.
The literature on assessing the impact of fiscal shocks is primarily based on national level data. There is a need to study the impact of fiscal shocks on subnational finances.
Future research could explore the effects of the green transition using total debt indicators, extend the scope to include non-EU countries, and use longer time periods to achieve a more comprehensive understanding.
Future research can build on the study's findings and explore the relationship between government expenditure and national income in other countries. Future research can use different methodologies and techniques to validate the study's results.
Fiscal footprints in post-reform India: unraveling the nexus between government expenditure and national income · 2026 · DOIThe paper notes that Vietnam is reforming its financial regulations to adapt to economic development and global integration. The authors highlight the importance of understanding how legal structures influence public finance policies. The paper aims to provide a foundation for further research on financial law in developing economies.
THE BASIC OF PUBLIC FINANCES IN THE REGULATION OF HUNGARY AND VIETNAM COMPARATIVE ANALYSIS · 2026 · DOIThere is a need for a comparative analysis of public finance law in Hungary and Vietnam. The paper aims to fill this gap by providing an overview of the main fundamental aspects of public finance law in both countries.
THE BASIC OF PUBLIC FINANCES IN THE REGULATION OF HUNGARY AND VIETNAM COMPARATIVE ANALYSIS · 2026 · DOIThe lack of integration of macro-level constraints, such as fiscal austerity, into multidimensional measurement strategies linked to observable well-being outcomes.
Public Value Under Constraint: Fiscal Austerity and the Conversion of Education Policy into Social Well-Being in Brazil · 2026 · DOIThe effectiveness of IFIs in SSA is often undermined by limited autonomy, technical capacity, political interference and enforcement challenges.
Public Debt Management and Independent Fiscal Institutions in Sub-Saharan Africa: A Structured Literature Review · 2026 · DOIThe significance of key model statistics (Wald and error correction term coefficients) confirmed a unidirectional causal relationship from budget deficits to the human development index, a finding the study discovered to be consistent with the Keynesian theory.
The ARDL model has limited applicability when the data series are integrated of order I(2).
Fiscal footprints in post-reform India: unraveling the nexus between government expenditure and national income · 2026 · DOIThe study identifies a gap in the comparative analysis of fiscal performance of Indian states. The study aims to fill this gap by comparing the fiscal performance of Odisha and West Bengal.
FISCAL MANAGEMENT AND FISCAL SUSTAINABILITY: A COMPARATIVE STUDY OF ODISHA AND WEST BENGAL · 2026 · DOIThe study identifies a gap in the literature on the effect of fiscal space and public debt on economic growth in the MINT countries. The study aims to fill this gap by providing valuable insights into the complex relationships between public debt, fiscal deficit, and economic growth in the MINT countries.
Fiscal Space, Public Debt Sustainability and Economic Growth: Empirical Inference from the MINT Countries · 2026 · DOIConceptual ambiguity in public value research - Difficulty of capturing intangible and long-term components of public value - Limited integration of macro-level constraints into multidimensional measurement…
Public Value Under Constraint: Fiscal Austerity and the Conversion of Education Policy into Social Well-Being in Brazil · 2026 · DOIThe study identifies a gap in the literature on the role of fiscal institutions in promoting fiscal discipline, managing public debt, and supporting economic stability in Sub-Saharan Africa.
Public Debt Management and Independent Fiscal Institutions in Sub-Saharan Africa: A Structured Literature Review · 2026 · DOI
Most-cited papers in Fiscal Policies and Political Economy
- Are Government Bonds Net Wealth? · Journal of Political Economy · 1974 · 3,079 citations
- On the Determination of the Public Debt · Journal of Political Economy · 1979 · 1,658 citations
- Income distribution, political instability, and investment · European Economic Review · 1996 · 1,546 citations
- Debt with Potential Repudiation: Theoretical and Empirical Analysis · The Review of Economic Studies · 1981 · 1,491 citations
- The Behavior of U. S. Public Debt and Deficits · The Quarterly Journal of Economics · 1998 · 1,071 citations
- A Positive Theory of Fiscal Deficits and Government Debt · The Review of Economic Studies · 1990 · 970 citations
- Budget spillovers and fiscal policy interdependence · Journal of Public Economics · 1993 · 809 citations
- Why a Stubborn Conservative would Run a Deficit: Policy with Time- Inconsistent Preferences · The Quarterly Journal of Economics · 1989 · 733 citations
- State Responses to Fiscal Crises: The Effects of Budgetary Institutions and Politics · Journal of Political Economy · 1994 · 689 citations
- Political budget cycles: Do they differ across countries and why? · Journal of Public Economics · 2006 · 654 citations
Most recent work
- Fiscal Capacity Revisited: Technopolitical Coalitions and Off‐Balance‐Sheet Instruments in Europe’s Green Industrial Policy · Politics and Governance · 2026
- Fiscal policy and the government balance sheet in China · International Review of Economics & Finance · 2026
- The impact of local government debt on corporate inefficient investment · International Review of Economics & Finance · 2026
- The Demand for Government Debt · Management Science · 2026
- Fiscal drag in theory and in practice: A European perspective · European Economic Review · 2026
- Revisiting the Interest Rate Effects of Federal Debt · The Review of Economics and Statistics · 2026
- The impact of local government debt on leverage adjustment speed: Evidence from China · International Review of Economics & Finance · 2026
- The impact of local government debt on household consumption inequality · Pacific-Basin Finance Journal · 2026
- What are the causal links between fiscal and external sustainability in the EU? New time-varying evidence · Journal of International Money and Finance · 2026
- The impact of hardening local government budget constraints on corporate digital transformation: evidence from China · Applied Economics · 2026
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