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Faut-il des règles de politique budgétaire ?

Author

Listed:
  • Catherine Mathieu

    () (OFCE - OFCE - Sciences Po)

  • Henri Sterdyniak

    () (OFCE - OFCE - Sciences Po)

Abstract

En raison de la crise des dettes publiques, les projets visant à instaurer des règles budgétaires sont revenu au premier plan. Le document analyse leurs justifications et les spécifications proposées, dans un cadre néo-classique, puis dans un cadre keynésien. Il n'y a aucune preuve que, au cours de la dernière période, les déficits publics ont été causés par de l'indiscipline fiscale et induit des taux d'intérêt trop élevés. Aucune des règles proposées n'est économiquement satisfaisante, c'est-à-dire capable d'indiquer la politique optimale face à tous les chocs. Le papier propose une analyse des expériences de règles budgétaires, nationales (comme la règle d'or au Royaume-Uni) ou européenne (comme le Pacte de stabilité et de croissance) ; il montre qu'ils n'ont pas fonctionné avant et pendant la crise. La dernière section discute du projet européen, le "nouveau pacte budgétaire ", qui risque de paralyser les politiques budgétaires et d'empêcher la stabilisation économique. L'urgence aujourd'hui n'est pas d'augmenter la discipline des finances publiques, mais de remettre en question les évolutions économiques qui rendent les déficits publics nécessaires.

Suggested Citation

  • Catherine Mathieu & Henri Sterdyniak, 2012. "Faut-il des règles de politique budgétaire ?," Working Papers hal-01070288, HAL.
  • Handle: RePEc:hal:wpaper:hal-01070288
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-01070288
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    References listed on IDEAS

    as
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    Citations

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    Cited by:

    1. Henri Sterdyniak, 2012. "Ramener à zéro le déficit public doit-il être l’objectif central de la politique économique ?," Sciences Po publications info:hdl:2441/c6t1fl36hv9, Sciences Po.
    2. Catherine Mathieu & Henri Sterdyniak, 2014. "Peut-on gérer la zone euro ?," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 30(1), pages 3-9, June.
    3. repec:spo:wpecon:info:hdl:2441/c6t1fl36hv9s7q89j8pa18291 is not listed on IDEAS

    More about this item

    Keywords

    politique budgétaire; règles budgétaires;

    JEL classification:

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

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