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Longer-term challenges for fiscal policy in the euro area

Author

Listed:
  • Moshammer, Edmund

Abstract

This article discusses the challenges for public finances arising from (i) demographic ageing, (ii) increases in defence expenditure, (iii) digitalisation and (iv) climate change. While these changes are likely to occur, the associated fiscal costs are difficult to estimate with precision. Nonetheless, as far as possible prudent fiscal policy should already be taking these into account. JEL Classification: H68, J11, H56

Suggested Citation

  • Moshammer, Edmund, 2024. "Longer-term challenges for fiscal policy in the euro area," Economic Bulletin Articles, European Central Bank, vol. 4.
    • Handle: RePEc:ecb:ecbart:2024:0004:2
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    File URL: https://www.ecb.europa.eu//press/economic-bulletin/articles/2024/html/ecb.ebart202404_02~d8159a215d.en.html
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    More about this item

    Keywords

    Fiscal policies;

    JEL classification:

    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

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