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Barriers to expansive fiscal policy against the background of the macroeconomic situation of the euro area

Author

Listed:
  • Dariusz Malinowski

    (Warsaw School of Economics)

Abstract

Aim: In the article, the Author analyses the possibilities of instituting an expansive fiscal policy in individual euro zone countries. In addition, barriers to effective transmission of fiscal expansion to the level of real output in the euro zone economy will be identified against the background of economic theory. Results: The Author also show how the implementation of different strategies of monetary policy and exchange rate policy affect the effectiveness of the growth of the budget deficit in its impact on the economic growth rate.

Suggested Citation

  • Dariusz Malinowski, 2017. "Barriers to expansive fiscal policy against the background of the macroeconomic situation of the euro area," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 16(1), pages 87-105, March.
    • Handle: RePEc:cpn:umkeip:v:16:y:2017:i:1:p:87-105
    DOI: 10.12775/EiP.2017.007
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    References listed on IDEAS

    as
    1. Michele Lenza & Huw Pill & Lucrezia Reichlin, 2010. "Monetary policy in exceptional times [Preventing deflation: Lessons from Japan’s experience in the 1990s]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 25(62), pages 295-339.
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    3. Blanchard, Olivier J. & Romer, David & Spence, Michael & Stiglitz, Joseph E. (ed.), 2012. "In the Wake of the Crisis: Leading Economists Reassess Economic Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 026201761x, December.
    4. Alberto Alesina & Francesco Giavazzi, 2013. "Fiscal Policy after the Financial Crisis," NBER Books, National Bureau of Economic Research, Inc, number ales11-1, January.
    5. Alberto Botta, 2013. "Fiscal policy, Eurobonds, and economic recovery: heterodox policy recipes against financial instability and sovereign debt crisis," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 35(3), pages 417-442.
    6. Easterly, William & Rebelo, Sergio, 1993. "Fiscal policy and economic growth: An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 417-458, December.
    7. Peersman, Gert, 2011. "Macroeconomic effects of unconventional monetary policy in the euro area," Working Paper Series 1397, European Central Bank.
    8. Stiglitz, Joseph, 2012. "Macroeconomics, Monetary Policy, and the Crisis," MIT Press Book Chapters, in: Blanchard, Olivier J. & Romer, David & Spence, Michael & Stiglitz, Joseph E. (ed.), In the Wake of the Crisis: Leading Economists Reassess Economic Policy, edition 1, volume 1, chapter 4, pages 31-42, The MIT Press.
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    Keywords

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    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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