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A Logical Definition Of Fiscal Sustenability

Author

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  • Emil DINGA

    () (”Victor Slavescu” Financial and Monetary Research Center, Romanian Academy, Romania)

Abstract

The paper aims to find the logical predicates of sufficiency which could deliver a general definition of the fiscal sustainability. To this end, firstly the concept of optimality (in its relation with the extreme values of a system) is discussed and clarified. Then, these results are applied to the fiscal concept in order to find the concept of fiscal optimality. Finally, the paper discusses the minimal list of the fiscal sustainability sufficient predicates, so to get the logical definition of the fiscal sustainability.

Suggested Citation

  • Emil DINGA, 2016. "A Logical Definition Of Fiscal Sustenability," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 1(1), pages 5-13.
  • Handle: RePEc:brc:brccej:v:1:y:2016:i:1:p:5-13
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    References listed on IDEAS

    as
    1. Gleich, Holger, 2003. "Budget institutions and fiscal performance in Central and Eastern European countries," Working Paper Series 215, European Central Bank.
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    More about this item

    Keywords

    optimal; sustainable; fiscal; fiscal sustainability;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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