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L'impact du déficit public sur la vitesse de convergence des économies européennes

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  • Christophe Tavera
  • Isabelle Cadoret

Abstract

[fre] Une note sur l'impact du déficit public sur la vitesse de convergence des économies européennes . par Isabelle Cadoret et Christophe Tavera . L'objectif de ce papier est d'examiner à la fois théoriquement et empiriquement les conséquences du critère de déficit public du Traité de Maastricht sur la vitesse de convergence des économies européennes. Nous retenons un modèle de croissance à la Solow dans lequel le déficit public est explicitement pris en compte. L'analyse théorique fait apparaître une multiplicité d'équilibres ainsi que des équilibres de bifurcation. Une simulation du modèle révèle que l'application du critère de déficit public aboutit à une augmentation et à une homogénéisation des vitesses de convergence des pays européens. [eng] The Impact of Government Deficits on European Economic Convergence Rates by Isabelle Cadoret and Christophe Tavera . This paper is a theoretical and empirical examination of the consequences of the government deficit criterion contained in the Maastricht Treaty on economic convergence rates in Europe. We use a Solow growth model that explicitly accounts for government deficits. Theoretical analysis shows a multiplicity of equilibria, as well as bifurcation equilibria. A simulation using the model shows that application of the government deficit criterion leads to more rapid and more uniform convergence rates in European countries.

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File URL: http://dx.doi.org/doi:10.3406/ecop.1998.5896
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File URL: http://www.persee.fr/articleAsPDF/ecop_0249-4744_1998_num_132_1_5896/ecop_0249-4744_1998_num_132_1_5896.pdf?mode=light
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Bibliographic Info

Article provided by Programme National Persée in its journal Économie & prévision.

Volume (Year): 132 (1998)
Issue (Month): 1 ()
Pages: 37-48

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Handle: RePEc:prs:ecoprv:ecop_0249-4744_1998_num_132_1_5896

Note: DOI:10.3406/ecop.1998.5896
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Web page: http://www.persee.fr/web/revues/home/prescript/revue/ecop

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  1. Blanchard, Olivier J., 1984. "Current and anticipated deficits, interest rates and economic activity," European Economic Review, Elsevier, vol. 25(1), pages 7-27, June.
  2. Sala-i-Martin, Xavier, 1995. "The Classical Approach to Convergence Analysis," CEPR Discussion Papers 1254, C.E.P.R. Discussion Papers.
  3. Gregory Mankiw, 1995. "The Growth of Nations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 275-326.
  4. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, December.
  5. Hughes Hallett, Andrew & McAdam, Peter, 1996. "Fiscal Deficit Reductions in Line with the Maastricht Criteria for Monetary Union: An Empirical Analysis," CEPR Discussion Papers 1351, C.E.P.R. Discussion Papers.
  6. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
  7. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
  8. Jensen, Svend Erik Hougaard & Jensen, Lars Grue, 1995. "Debt, deficits and transition to EMU: A small country analysis," European Journal of Political Economy, Elsevier, vol. 11(1), pages 3-25, March.
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