IDEAS home Printed from https://ideas.repec.org/a/cai/reofsp/reof_092_0099.html
   My bibliography  Save this article

Stabilisation et transparence. La règle budgétaire de Taylor et le Pacte de stabilité

Author

Listed:
  • Étienne Farvaque
  • Florence Huart
  • Clément Vaneecloo

Abstract

This paper evaluates the strength of automatic fiscal stabilizers in European countries by applying to the EU countries Taylor (2000)?s methodology, which relates the budget balance to the output gap and the structural budget balance. Estimates are provided for the EU and for each of the EU members. Furthermore, we ask whether this « Taylor?s fiscal rule » can be considered as a guide for national fiscal policies under EMU, in relation with the recent proposals made by the European Commission. Using the estimated fiscal policy rules in individual EU countries, we compute the structural budget position compatible with a balanced total budget position, given the size of the automatic stabilizers and the behaviour of the output gap. We then evaluate the stance of discretionary fiscal policies consistent with the requirement of a balanced budget. In our opinion, Taylor?s fiscal rule also increases transparency in public governance. JEL codes : E62, E63, H62.

Suggested Citation

  • Étienne Farvaque & Florence Huart & Clément Vaneecloo, 2005. "Stabilisation et transparence. La règle budgétaire de Taylor et le Pacte de stabilité," Revue de l'OFCE, Presses de Sciences-Po, vol. 92(1), pages 99-144.
  • Handle: RePEc:cai:reofsp:reof_092_0099
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=REOF_092_0099
    Download Restriction: free

    File URL: http://www.cairn.info/revue-de-l-ofce-2005-1-page-99.htm
    Download Restriction: free
    ---><---

    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • 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
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:reofsp:reof_092_0099. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-de-l-ofce.htm .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.