The Impact of Fiscal Rules on Public Finances: Theory and Empirical Evidence for the Euro Area

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the necessary guidance in limiting governmental borrowing by member states. In addition to the SGP, European countries are implementing various other fiscal rules that bind central, regional and local governments. We provide empirical estimates of the effect of fiscal rules on fiscal balance, government spending and government revenues, using a Fiscal Rule Index. We find that fiscal rules have some effect on fiscal balances.euro area, fiscal policy, policy rules, fiscal sustainability

The impact of fiscal rules on public finances: Theory and empirical evidence for the Euro area

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the necessary guidance in limiting governmental borrowing by member states. In addition to the SGP, European countries are implementing various other fiscal rules that bind central, regional and local governments. We provide empirical estimates of the effect of fiscal rules on fiscal balance, government spending and government revenues, using a Fiscal Rule Index. We find that fiscal rules have some effect on fiscal balances

Does debt predict growth? An empirical analysis of the relationship between total debt and economic output

Although the recent global financial crisis has stimulated a vast amount of research on the impact of public debt on economic growth and also increasingly on the role of private credit, the total levels of indebtedness of an economy have largely been ignored. This paper studies the impact of the total level of and increases in debt-to-GDP on economic growth for 26 developed countries in the short, medium and longer term. We analyse whether we can predict the future level of growth, simply by looking at the total level of debt, or increases in that debt level. We find that there is a negative correlation between high levels of debt and short term economic growth, but that this effect tapers in the medium and long term. Similarly, we find that rapid debt accumulation is negatively related to economic growth over the short term, the impact is less pronounced over the medium term and is non-existent over the long term

Age-related changes in physical functioning: Correlates between objective and self-reported outcomes

Objectives: To quantify the variance attributable to age and estimate annual decline in physical function and self-reported health using a battery of outcome measures in healthy older females. To determine whether self-reported functional losses are similar to those measured objectively and which best represent overall physical capacity. Design: Experimental study, cross-sectional analysis. Setting: Human Performance Laboratory, University setting. Participants: Thirty-nine community-dwelling women (mean [SD] age. =. 71.5 [7.3] years, range 60 to 83 years) completed a battery of objective measures of function and a self-reported health status survey. Main outcome measures: Objective measures: gait speed; TUG test; sit-to-stand; concentric knee flexor and extensor moments; self-reported: the SF-36. Results: Using a cross-sectional approach, annual declines were estimated for: TUG time (2.1%); gait speed (1.2%); knee extensor (2.2%) and flexor moments (3.0%); and self-reported Physical Functioning (0.9 to 1.2%) (p≤0.001). Linear regression indicated that age explained moderate variance in the objective (R2=21 to 34%) and self-reported (R2=14 to 28%) outcomes. TUG time and gait speed was significantly correlated with all objective outcomes except sit-to-stand (r=0.46 to 0.83) and most of the self-reported (r=0.40 to 0.63) outcomes (p<0.01). Conclusions: Age-related functional deterioration was estimated precisely across both objective and self-reported outcomes. Greater strength losses for the knee flexors compared to the extensors indicate an unequal strength loss of antagonistic muscle pairs which has implications for the safe completion of many functional tasks including obstacle negotiation, stair locomotion, postural transitions, and ultimately knee joint stability. Furthermore, walking speed and TUG time correlated most strongly with many of the outcomes highlighting their importance as global indicators of physical capacity

Vers une théorisation du vécu des patients et de leurs proches suite aux interventions de crise à domicile

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A full-body motion capture gait dataset of 138 able-bodied adults across the life span and 50 stroke survivors

\ua9 2023, The Author(s).This reference dataset contains biomechanical data of 138 able-bodied adults (21–86 years) and 50 stroke survivors walking bare-footed at their preferred speed. It is unique due to its size, and population, including adults across the life-span and over 70 years, as well as stroke survivors. Full-body kinematics (PiG-model), kinetics and muscle activity of 14 back and lower limbs muscles was collected with a Vicon motion capture system, ground-embedded force plates, and a synchronized surface EMG system. The data is reliable to compare within and between groups as the same methodology and infrastructure were used to gather all data. Both source files (C3D) and post-processed ready-to-use stride-normalized kinematics, kinetics and EMG data (MAT-file, Excel file) are available, allowing high flexibility and accessibility of analysis for both researchers and clinicians. These records are valuable to examine ageing, typical and hemiplegic gait, while also offering a wide range of reference data which can be utilized for age-matched controls during normal walking

An exploratory investigation on spatiotemporal parameters, margins of stability, and their interaction in bilateral vestibulopathy

Integration of accurate vestibular, visual, and proprioceptive information is crucial in managing the centre of mass in relation to the base of support during gait. Therefore, bilateral loss of peripheral vestibular function can be highly debilitating when performing activities of daily life. To further investigate the influence of an impaired peripheral vestibular system on gait stability, spatiotemporal parameters, step-to-step variability, and mechanical stability parameters were examined in 20 patients with bilateral vestibulopathy and 20 matched healthy controls during preferred overground walking. Additionally, using a partial least squares analysis the relationship between spatiotemporal parameters of gait and the margins of stability was explored in both groups. Patients with bilateral vestibulopathy showed an increased cadence compared to healthy controls (121 ± 9 vs 115 ± 8 steps/min; p = 0.02; d = 0.77). In addition, although not significant (p = 0.07), a moderate effect size (d = 0.60) was found for step width variability (Coefficient of Variation (%); Bilateral vestibulopathy: 19 ± 11%; Healthy controls: 13 ± 5%). Results of the partial least squares analysis suggest that patients with peripheral vestibular failure implement a different balance control strategy. Instead of altering the step parameters, as is the case in healthy controls, they use the single and double support phases to control the state of the centre of mass to improve the mechanical stability