Current Challenges for Fiscal and Budgetary Policies
AbstractThe current economic situation at national and international level highlight the need to identify the adequate economic measures, capable to bring savings on an increasing trend and restore public balance, creating thus the prerequisites for a sustainable economic development in the medium-term. This conduct to many debates in academic and political environment in order to solve the dilemma regarding the policy mix able to lead to these major objectives. This dilemma is given not only by the many intervention instruments, and also by the effects that can be generated by each of them. But the economic conditions put a lot of pressure on fiscal and budgetary policy in order to avoid an irresponsible behavior of the governments and to reduce the vulnerability of the economy generated by the accumulation of fiscal and macro-financial risks. Therefore, it is useful to investigate the current challenges of fiscal and budgetary policies at the European level and for some of the European Union member states to see who the governments activate in the economy in order to respond properly to those instigations. This also represents the paper aim. The investigation highlights the development of the fiscal rules and of the indicators capable to reflect the risk exposure.
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Bibliographic InfoArticle provided by West University of Timisoara, Romania, Faculty of Economics and Business Administration in its journal Timisoara Journal of Economics.
Volume (Year): 4 (2011)
Issue (Month): 3(15) ()
Postal: 16 J. H. Pestalozzi Street, 300115, Timisoara, Romania
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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.:
- Giovanni Dell'Ariccia & Olivier J. Blanchard & Paolo Mauro, 2010.
"Rethinking Macroeconomic Policy,"
IMF Staff Position Notes
2010/03, International Monetary Fund.
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