Fiscal Policy In European Union Countries – A Comparative Analysis Of Adjustment And Expansions Fiscal Policy Episodes
Current financial and economical context brings new challenges for most of the countries - the decrease of public revenues and the incapacity to adjust the public expenditures. This article aims to identify the applied strategies for large discretionary fiscal changes - fiscal adjustments and fiscal expansions for the period 1996-2011 in European Union countries - through changes in public revenues or public expenditures, and the effects on the economic growth process. Using data for fiscal adjustments (improve more than 1.5 percentage points of the budget balance) and for fiscal expansions (deterioration more than 1.5 percentage points of the budget balance), there are analysed the strategies and the consequences for reducing/increasing the deficit.
Volume (Year): 2 (2012)
Issue (Month): 3 (June)
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- Stoian, Andreea, 2011. "A Retrospective Approach on Government Response to Increasing Public Debt: Empirical Evidence for European Countries," Working Papers 15/2011, Universidade Portucalense, Centro de Investigação em Gestão e Economia (CIGE).
- Catriona Purfield, 2003. "Fiscal Adjustment in Transition : Evidence from the 1990s," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 39(1), pages 43-62, January.
- Catriona Purfield, 2003. "Fiscal Adjustment in Transition Countries; Evidence From the 1990's," IMF Working Papers 03/36, International Monetary Fund.
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