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Economic, political and institutional determinants of budget deficits in the European Union

Bayar, Ali H.; Smeets, Bram - 2009

Using an extended data set of EU countries ranging from 1971-2006 and relevant econometric methods, we investigate the economic, political, and institutional determinants of government deficits in the EU. The results show a strong opportunistic behaviour of policymakers which leads to political...

Persistent link: https://www.econbiz.de/10003831961

Economic and political determinants of budget deficits in the European Union : a dynamic random coefficient approach

Bayar, Ali H.; Smeets, Bram - 2009

This paper formulates a dynamic Random Coefficient Model (RCM) to consider a set of popular determinants of public deficits in the EU-15 over the period 1971-2006, both at a country-specific level and from a population-wide perspective. Although the extent of government deficits and debt has...

Persistent link: https://www.econbiz.de/10003808131

Keynesian, non-Keynesian or no effects of fiscal policy changes? : the EMU case

Aarle, Bas van - 2001

This paper studies the experiences with fiscal adjustments in the EuropeanUnion (EU) countries during the transition period to the Economic andMonetary Union (EMU). Using several approaches suggested in the literatureon fiscal adjustments and their macroeconomic effects and in the literatureon...

Persistent link: https://www.econbiz.de/10011400376

Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries

MacDonald, Ronald; Wójcik, Cezary - 2003

The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...

Persistent link: https://www.econbiz.de/10011506491

Does it pay to fulfill the Maastricht convergence criteria? : reflections on the public debt and growth nexus for selected European economies

Bökemeier, Bettina; Clemens, Christiane - 2016

the public budget and participation in the Euro-zone. The analysis is based on data of European economies with a special … focus on twelve Euro-zone members and a control group of six non-Euro countries for the years from 1970 to 2014. The results … European economies outside the Euro-zone shows higher growth values for Euro-members than for the control group. Regression …

Persistent link: https://www.econbiz.de/10011557773

Entry and exit dynamics of 'Excessive Deficits' in the European Union

Bayar, Ali H. - 1999

The extent of government deficits and debt has been one of the most debated issues in recent years. However, very little has been contributed about their dynamics . Yet, the issue of entering into and exiting from excessive deficits will be critical in the European monetary union since the...

Persistent link: https://www.econbiz.de/10009781711

Meta-analysis of the business cycle correlation between the euro area and the CEECs

Fidrmuc, Jarko (contributor); Korhonen, Iikka (contributor) - 2006

We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests some CEECs already...

Persistent link: https://www.econbiz.de/10003301362

The enlargement of the European Union and the redistribution of seigniorage wealth

Feist, Holger - 2001

In the course of the EU enlargement process, the participation of accession countries in the European Monetary Union might lead to a significant redistribution of seigniorage wealth if current regulations prevail. In general, accession countries will be winners from this redistribution, for...

Persistent link: https://www.econbiz.de/10011397787

Restructuring the ECB

Berger, Helge; Haan, Jakob de; Inklaar, Robert - 2003

Soon, euro area membership could more than double, with the vast majority of accession countries being quite different in economic terms compared with current members. Under the current decision-making system, this can lead to high decisionmaking costs and there is a risk that monetary policy...

Persistent link: https://www.econbiz.de/10011511101

EMU enlargement, policy uncertainty and economic reforms

Hefeker, Carsten (contributor) - 2006

Persistent link: https://www.econbiz.de/10003364637

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