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EuropeÕs Deficit Free Riders: A Panel Data Analysis

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Author Info

  • Thierry Warin
  • Lindsay Wolff

    (Department of Economics, Middlebury College, Vermont)

Abstract

The paper proposes an empirical method to measure the free riding possibility of public deficits in Europe. We use a cross-sectional time-series analysis of differences in national public deficits since 1991, and we compare the evolution of deficits before and after the inception of the euro in 1999. Evidence is that the countries breaching the Stability and Growth Pact are not likely free riders, but rather leaders in terms of deficits. In this case, they may lead the march towards higher public deficits in Europe.

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File URL: http://www.ugbs.org/weru/eper/vol3/no1/warin-wolff.pdf
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Bibliographic Info

Article provided by European Political Economy Infrastructure Consortium in its journal European Political Economy Review.

Volume (Year): 3 (2005)
Issue (Month): Spring ()
Pages: 5-17

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Handle: RePEc:epe:journl:v:3:y:2005:i:spring:p:5-17

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Web page: http://eper.htw-berlin.de/
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Related research

Keywords: Europe; Fiscal rule; Stability and Growth Pact;

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Cited by:
  1. Thierry Warin, 2005. "Stability and Growth Pact: An Index to Trigger an Early Warning Earlier?," Middlebury College Working Paper Series 0502, Middlebury College, Department of Economics.

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