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The Fiscal Revenues And Public Expenditures: Is Their Evolution Sustenable? The Romanian Case

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Author Info

  • Bogdan Dima

    (West University of Timisoara)

  • Oana Lobont

    (West University of Timisoara)

  • Cristina Nicolescu

    (West University of Timisoara)

Abstract

Depending on the specific stage of economic cycle, different types of fiscal policies,expansionist (incentive) or restrictive (prohibition), are use in specific state of the economy, for acertain period of time. Thus, in times of recession, the state use of tax incentive measures and intimes of economic boom are applied, in particular, prohibitive taxation policies in order to avoid,where possible, the large economic shocks. Starting from the idea that taxation, as any otherfinancial leverage, is displayed while operated in influencing capacity and rebalancing theeconomic situation in growth, we believe, that the adjustments made by fiscal policy, it should becomprehensive, immediate and lasting, therefore, this paper is focused on aspects regarding fiscalpolicy sustainability in Romania. The objective is to provide some empirical evidencies ofsustainability of fiscal revenues and expenditure flows. The main output consist in this thesis thatsome support could be found for the sustainability.

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Bibliographic Info

Article provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.

Volume (Year): 1 (2009)
Issue (Month): 11 ()
Pages: 42

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Handle: RePEc:alu:journl:v:1:y:2009:i:11:p:42

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Related research

Keywords: fiscal policy; sustainability; cointegration tests; budget revenues and expenditures;

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References

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  2. António Afonso, 2005. "Fiscal Sustainability: The Unpleasant European Case," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 61(1), pages 19-, March.
  3. António Afonso & Christophe Rault, 2008. "What do we really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic," CESifo Working Paper Series 2226, CESifo Group Munich.
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  9. Bharat Trehan & Carl E. Walsh, 1987. "Common trends, the government's budget constraint, and revenue smoothing," Working Papers in Applied Economic Theory 87-11, Federal Reserve Bank of San Francisco.
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  13. Gael M. Martin, 2000. "US deficit sustainability: a new approach based on multiple endogenous breaks," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(1), pages 83-105.
  14. Olekalns, N., 1999. "Sustainability and Stability? Australian Fiscal Policy in the 20th Century," Department of Economics - Working Papers Series 721, The University of Melbourne.
  15. Oluwole Owoye, 1995. "The causal relationship between taxes and expenditures in the G7 countries: cointegration and error-correction models," Applied Economics Letters, Taylor & Francis Journals, vol. 2(1), pages 19-22.
  16. Bohn, Henning, 2007. "Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint?," Journal of Monetary Economics, Elsevier, vol. 54(7), pages 1837-1847, October.
  17. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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