IDEAS home Printed from
   My bibliography  Save this article

Les politiques budgétaires sont-elles contra-cycliques dans la zone euro ?


  • Florence Huart


We study the relationship between the change in the cyclically-adjusted primary balance and the change in the output gap. The former variable is taken as an indicator of discretionary fiscal policy. The latter is an indicator of cyclical conditions. We use panel data for the euro area and data for twelve euro area countries (and three EU countries and three OECD countries for comparison). The sample covers the period 1970-2008. We show that fiscal policy was countercyclical in all euro area member countries in 2009. However, over the period 1970-2008, countercyclicality was little frequent in those countries to compare with other OECD countries. Moreover, since 1999, fiscal policies in the euro area have no longer been procyclical during good times, but they have been procyclical during bad times in two countries, Austria and Portugal. JEL Classification codes: E62.

Suggested Citation

  • Florence Huart, 2011. "Les politiques budgétaires sont-elles contra-cycliques dans la zone euro ?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 149-172.
  • Handle: RePEc:cai:reofsp:reof_116_0149

    Download full text from publisher

    File URL:
    Download Restriction: free

    File URL:
    Download Restriction: free

    More about this item


    cyclical behaviour of fiscal policy; countercyclical fiscal stance; Discretion; Stability and Growth Pact;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy


    Access and download statistics


    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_116_0149. 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: (Jean-Baptiste de Vathaire). General contact details of provider: .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.