Budgetary Policies in Europe on the Eve of Monetary Union

This paper presents an econometric analysis of 65 episodes of fiscal adjustment in the OECD from 1960 through 1992. The episodes are the ones that Perotti (1995) has identified as entailing major reductions of previous deficits. The paper estimates the effect on the growth of GDP and of consumption from t+4 of reductions in government expenditures, on the one hand, and increases in taxes, on the other, at time t, t being the date of the episode.

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Year of publication:	1997
Authors:	de Menil, G.
Institutions:	Département et Laboratoire d'Économie Théorique Appliquée (DELTA), École Normale Supérieure (ENS Paris)
Subject:	MONETARY AREAS \| EUROPE \| BUDGET \| LIQUIDITY

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Series:	DELTA Working Papers.
Type of publication:	Book / Working Paper
Notes:	18 pages
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; E13 - Neoclassical ; E60 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005256716