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Fiscal Policy and Budget Balancing : The European Experience

Larson, Sven R. - 2015

The European Union's constitutional balanced-budget amendment, the Stability and Growth Pact (SGP), dictates that EU … member states keep their budget deficits within three percent of GDP and that government debt be kept at or below 60 percent … prioritizes budget-balancing over reductions in spending and unemployment. For Americans, this a valuable lesson, as it shows what …

Persistent link: https://www.econbiz.de/10013030527

Moral Hazard in an Economic Union : Politics, Economics, and Fiscal Gimmickry in Europe

Alt, James E. - 2013

This paper examines empirically how transparency of the budget process affects fiscal rules and incentives for fiscal …

Persistent link: https://www.econbiz.de/10013090652

Impact of fiscal institutions on public finances in the European Union : review of evidence in the empirical literature

Gorčák, Martin; Šaroch, Stanislav - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 2, pp. 215-232

This paper examines the impact of budgetary institutions on public finances in the European Union on the basis of a critical survey of the relevant theoretical and empirical literature. In general, the authors find that fiscal institutions (namely fiscal rules) have successfully contributed to...

Persistent link: https://www.econbiz.de/10012598898

Signalling Fiscal Stress in the Euro Area -- A Country-Specific Early Warning System

de Cos, Pablo Hernández - 2014

The sovereign debt crisis in the euro area has increased the interest in early warning indicators, with the aim to indicate the build up of fiscal stress early on and to facilitate crisis prevention by a timely counteraction of fiscal and macroeconomic policies. This paper presents possible...

Persistent link: https://www.econbiz.de/10013049852

Signalling Fiscal Stress in the Euro Area : A Country-Specific Early Warning System

de Cos, Pablo Hernández - 2014

The sovereign debt crisis in the euro area has raised interest in early warning indicators, aimed at signalling the build-up of fiscal stress in advance and helping prevent crises by means of a timely counteraction of fiscal and macroeconomic policies. This paper presents possible improvements...

Persistent link: https://www.econbiz.de/10013050271

The Euro Crisis and the Job Guarantee : A Proposal for Ireland

Wray, L. Randall - 2012

Greece have found out, austerity does not mean reduced budget deficits, because tax revenues fall faster than spending can be …

Persistent link: https://www.econbiz.de/10013110505

The euro crisis and the job guarantee : a proposal for Ireland

Wray, L. Randall - 2012

Greece have found out, austerity does not mean reduced budget deficits, because tax revenues fall faster than spending can be …

Persistent link: https://www.econbiz.de/10009490197

Future fiscal and debt policies : Germany in the Context of the European Monetary Union

Hein, Eckhard; Truger, Achim - 2013

Currently fiscal policies in Germany seem to be in a very comfortable position and the German Debt Brake is regarded as an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact. In this paper we scrutinize German fiscal policies and...

Persistent link: https://www.econbiz.de/10009756271

Austerity in the Euro area : the sad state of economic policy in Germany and the EU

Truger, Achim - 2013

The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

Persistent link: https://www.econbiz.de/10009756285

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

Truger, Achim - 2014

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

Persistent link: https://www.econbiz.de/10010424293