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Fiscal Adjustments and Their Effects during the Transition to the EMU

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  • Gobbin, Niko
  • van Aarle, Bas

Abstract

The transition phase to EMU has been accompanied by considerable monetary and fiscal consolidation efforts in the EU. This paper analyses this consolidation process and its effects on economic activity in the EU. It is tested to what extent fiscal retrenchment efforts have depressed or stimulated private spending. In the case of the latter non-Keynesian effects dominate the traditional Keynesian expenditure effects of government spending, taxation and transfer payments. Copyright 2001 by Kluwer Academic Publishers

Suggested Citation

  • Gobbin, Niko & van Aarle, Bas, 2001. "Fiscal Adjustments and Their Effects during the Transition to the EMU," Public Choice, Springer, vol. 109(3-4), pages 269-299, December.
    • Handle: RePEc:kap:pubcho:v:109:y:2001:i:3-4:p:269-99
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    Cited by:

    1. D. Van den Poel, 2003. "Predicting Mail-Order Repeat Buying. Which Variables Matter?," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business (FEB), Review of Business and Economic Literature, vol. 0(3), pages 371-404.
    2. Afonso, António & Alves, José & Jalles, João Tovar, 2022. "The (non-)Keynesian effects of fiscal austerity: New evidence from a large sample," Economic Systems, Elsevier, vol. 46(2).
    3. Kapopoulos, Panayotis, 2004. "When can fiscal consolidation be expansionary? Evidence from a small open economy," Journal of Policy Modeling, Elsevier, vol. 26(8-9), pages 1031-1043, December.
    4. Afonso, António & Jalles, João Tovar, 2014. "Assessing fiscal episodes," Economic Modelling, Elsevier, vol. 37(C), pages 255-270.
    5. Wang, Xue & Bohn, Frank & Veiga, Francisco José, 2023. "When do more selfish politicians manipulate less, not more?," European Journal of Political Economy, Elsevier, vol. 77(C).
    6. Syed Sadaqat Ali Shah & Muhammad Asim Afridi, 2023. "Cyclical variation of fiscal multipliers in Caucasus and Central Asia economies: an empirical evidence," Economic Change and Restructuring, Springer, vol. 56(6), pages 4531-4563, December.
    7. Maria Neicheva, 2006. "Non-Keynesian Effects of Government Expenditure on Output in Bulgaria: An HP Filter Approach," Post-Communist Economies, Taylor & Francis Journals, vol. 18(1), pages 1-12.
    8. M. Neyt & J. Albrecht & B. Clarysse & V. Cocquyt, 2003. "The Cost-Effectiveness of Herceptin® in a Standard Cost Model for Breast-Cancer Treatment in a Belgian University Hospital," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 03/180, Ghent University, Faculty of Economics and Business Administration.
    9. Jönsson, Kristian, 2004. "Fiscal Policy Regimes and Household Consumption," Working Papers 2004:12, Lund University, Department of Economics.

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