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Investigating Romanian Fiscal Adjustments

Author

Listed:
  • Emilia Câmpeanu

    (Bucharest Academy of Economic Studies Department of Finance)

  • Andreea Stoian

    (Bucharest Academy of Economic Studies Department of Finance)

Abstract

Fiscal sustainability assessment depends on the active measures undertaken to limit the budget deficit. The aim of this paper is to analyze the composition of fiscal adjustments based on reaction function on Romania's case. The main findings reveals that the future active measures undertaken by Romanian government in order to prevent large fiscal imbalances and to assure condition for assessing fiscal sustainability on long run should rely upon expenditures and reduction of income and consumption taxation. Also, the reaction of fiscal balance to shocks on expenditures and taxation is delayed by three periods.

Suggested Citation

  • Emilia Câmpeanu & Andreea Stoian, 2009. "Investigating Romanian Fiscal Adjustments," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(541)(s), pages 735-742, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:735-742
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