Advanced Search
MyIDEAS: Login to save this article or follow this journal

Pacte de stabilité et efficacité de la politique budgétaire

Contents:

Author Info

  • Bertrand Martinot
Registered author(s):

    Abstract

    [eng] Stability Pact and Fiscal Policy Efficiency by Bertrand Martinot . This paper presents the effects of the stability pact on consumption in a small, calibrated model in which one fraction of the households has a Blanchard finite horizon while the other adopts liquidity-constrained behaviour. This model is used to simulate the non-Keynesian fiscal policy effects that could be generated by the stability pact at cruising speed. Simulations are made to measure the impact of the stability pact's 3% deficit ceiling on the variance in consumption for different structural deficit targets and parameter values. The findings suggest that, in this context and in France, a deficit target close to the pact's authorised ceiling could result in extremely high consumption variance. Conversely, consumption variance with a structural deficit of around 1% would be barely affected by the pact. [fre] Pacte de stabilité et efficacité de la politique budgétaire par Bertrand Martinot . Cet article présente les effets du pacte de stabilité sur la consommation dans un petit modèle calibré où une partie des ménages a un horizon de vie fini à la Blanchard, l'autre partie adoptant un comportement contraint par la liquidité. Ce modèle permet de simuler les effets non keynésiens de la politique budgétaire que le pacte de stabilité pourrait générer en régime de croisière. On mesure à l'aide de simulations l'impact de la limite de 3% de déficit imposée par le pacte sur la variance de la consommation pour différentes cibles de déficit structurel et pour différentes valeurs des paramètres du modèle. Les résultats suggèrent que, dans ce cadre et pour la France, une cible de déficit proche de la limite autorisée par le pacte pourrait se traduire par une variance très élevée de la consommation. À l'inverse, pour un déficit structurel de l'ordre de 1 %, la variance de la consommation ne serait quasiment pas affectée par le pacte.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://dx.doi.org/doi:10.3406/ecop.2000.6125
    Download Restriction: no

    File URL: http://www.persee.fr/articleAsPDF/ecop_0249-4744_2000_num_146_5_6125/ecop_0249-4744_2000_num_146_5_6125.pdf?mode=light
    Download Restriction: no

    Bibliographic Info

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

    Volume (Year): 146 (2000)
    Issue (Month): 5 ()
    Pages: 15-30

    as in new window
    Handle: RePEc:prs:ecoprv:ecop_0249-4744_2000_num_146_5_6125

    Note: DOI:10.3406/ecop.2000.6125
    Contact details of provider:
    Web page: http://www.persee.fr/web/revues/home/prescript/revue/ecop

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Sutherland, Alan, 1997. "Fiscal crises and aggregate demand: can high public debt reverse the effects of fiscal policy?," Journal of Public Economics, Elsevier, vol. 65(2), pages 147-162, August.
    2. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
    3. Olivier J. Blanchard, 1984. "Debt, Deficits and Finite Horizons," NBER Working Papers 1389, National Bureau of Economic Research, Inc.
    4. Thomas Dalsgaard & Alain de Serres, 1999. "Estimating Prudent Budgetary Margins for 11 EU Countries: A Simulated SVAR Model Approach," OECD Economics Department Working Papers 216, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:prs:ecoprv:ecop_0249-4744_2000_num_146_5_6125. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.