Download or read book Duration of fiscal budgetary consolidations in the European Union written by Carlos Mulas-Granados and published by . This book was released on 2002 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Consolidation in Southeastern European Countries written by Mr.Brian Olden and published by International Monetary Fund. This book was released on 2012-05-01 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.
Download or read book Economics Politics and Budgets written by C. Mulas-Granados and published by Springer. This book was released on 2006-08-30 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by the proliferation of fiscal consolidation episodes in the advent of Monetary Union, this book explains the causes and consequences of fiscal policy in Europe, using theory and empirical evidence from the last four decades.
Download or read book Received Wisdom and Beyond written by Martin Larch and published by . This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Can Fiscal Consolidations be Expansionary in the EU written by Gabriele Giudice and published by . This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses non-Keynesian effects in fiscal consolidations in the EU. The analysis is carried out both ex-post, i.e. by looking at the emergence of expansionary consolidations in the past and at their characteristics, and ex-ante, i.e. by simulating with the European Commission QUEST model under which conditions public finance consolidation would exhibit non-Keynesian effects in the current EMU context.
Download or read book Fiscal Consolidation in Europe written by Christophe Kamps and published by . This book was released on 2001 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Playing by the Rules written by Luc Eyraud and published by International Monetary Fund. This book was released on 2015-03-24 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper contributes to the discussions on fiscal governance in Europe. It takes stock of recent reforms, identifies areas for further progress, and discusses a menu of policy options for the medium-term. The issues covered include: (i) the growing complexity of the European framework and ways to simplify it; (ii) the difficulties to measure and implement structural stance indicators; (iii) the challenge of reconciling fiscal sustainability and growth; (iv) the need to enhance coordination in the area of monitoring; and (v) the obstacles to compliance and proposals to strengthen enforcement.
Download or read book Fiscal Policy in the European Union written by J. Ferreiro and published by Springer. This book was released on 2008-11-27 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.
Download or read book A New Action Based Dataset of Fiscal Consolidation written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-06-01 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.
Download or read book Fiscal Adjustments in OECD Countries written by Mr.Alberto Alesina and published by International Monetary Fund. This book was released on 1996-07-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Download or read book Europe Managing the Crisis written by Walter Kickert and published by Routledge. This book was released on 2015-06-05 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies of the recent financial crisis have been largely dominated by economists, but the similarities and differences between European countries' response reflect both economic and political perspectives which have resulted in considerable differences in their decisions. Drawing on uniquely comprehensive research data, this book presents an in-depth comparative analysis of how 14 European governments tackled the challenge of fiscal consolidation, and analyses the political decision-making behind these measures. By exploring national responses not just in fiscal terms, but also from a political perspective, it reveals that decision making has been driven by political factors with profound effects on public administration and management. This ground-breaking book fills an important gap in the research literature for scholars of public management, public administration and policy, and will be a benchmark for future work on the global economic crisis.
Download or read book France written by Edouard Martin and published by International Monetary Fund. This book was released on 2011-04-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes past fiscal consolidation plans and their outcomes in France. It covers the early attempts at fiscal consolidation in the 1970s and the 1980s (Plan Barre and Virage de la Rigueur), the first episode of medium-term fiscal consolidation in 1994-97 ahead of joining the European Economic and Monetary Union, and the fiscal consolidation under the corrective arm of the European Stability and Growth Pact in 2003-07. These experiences offer important lessons for the future, suggesting that binding constraints help focus policymakers’ attention and justify their actions; spending restraint needs to be shared and coordinated across all levels of government; and appropriate deficit targets could help in enforcing budgetary discipline in good times.
Download or read book The Pursuit of Stability of the Euro Area as a Whole written by Luca Lionello and published by Springer Nature. This book was released on 2019-10-14 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the ongoing reform of the European economic union in the light of the new objective of ‘stability of the euro area as a whole’ in Article 136(3) TFEU. On the basis of the relevant legal sources, it qualifies this objective as the obligation to preserve the existence of the monetary union, the establishment of which was an EU goal laid down in Article 3(4) TEU. While to date the objective has been achieved through fiscal and macroeconomic consolidation in the member states and the activation of stabilisation mechanisms in cases of emergency, the book argues that full stability requires a better system of economic governance, either through a process of partial fiscal centralisation or the return to a more efficient and sustainable market discipline of public finances. It also analyses the concrete legal challenges these raise, including compliance with the conferral principle, the longstanding democratic deficit of the governance and the balance between financial solidarity and fiscal responsibility.
Download or read book Budgetary Consolidation in EMU written by Jürgen von Hagen and published by . This book was released on 2001 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1.Overview - 2.Quality and Success of Fiscal Adjustments - 3.Fiscal Consolidations in the 1990ś: A Detailed Account - 4.Budgeraty Institutions for Sustainable Public Finances - 5.Macroeconomic Aspects of the 1999ś Fiscal Adjustments - 6.Lessons for Future Budgetary Policies in the EMU - 7.References - 8.Appendices.
Download or read book Fiscal Consolidation in Central Europe in Preparation for Accession to the European Union written by Lucjan T. Orlowski and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on adjustments in fiscal policy in five CEC's whose accession seems to be politically most feasible, and who have expressed the strongest desire to join the Union. They include: Poland, the Czech Republic, Slovakia, Hungary, and Slovenia. Fiscal consolidation in these countries is very critical in the process of preparations for accession to the EU. These countries will have to undergo major reforms of tax laws and they have to further develop efficient institutions of government revenue collection. The governments will have to significantly alter their major expenditure positions as well. These CEC's are all implementing the program of transformation from central planning and state ownership into deregulated, competitive economic structures with private ownership. The ultimate goal of this transformation is minimization of state ownership, state financing and state regulatory interference with business to reasonable levels comparable to modern economies of industrial nations. In essence, this transformation shall be based on a sizable contraction of the state sector to ensure compatibility with the fiscal and regulatory system of the EU nations and to narrow the efficiency gap between the West and the East. Consequently, the task of their fiscal convergence shall be very ambitious. Because the ongoing economic transformation is so closely tied to the contraction of the government intervention with business in CEC's, it is proposed that at the end of the pre-accession period the candidate countries of Central Europe shall not exceed a 3 per cent budget deficit-to-GDP ratio, right at the level consistent with the Maastricht convergence criteria for inclusion in the European Monetary System. Moreover, even a tighter criterion of no more than 2 per cent shall be recommended for CEC's since a 3 per cent annul deficit in relation to GDP is still quite significant. However, a tighter deviation from the Maastricht convergence criteria will be politically unjust, it may send a discriminatory message to the candidate countries. The fiscal convergence criterion required in preparations for accession to the EU shall be constitutionally guaranteed in CEC's and simultaneously announced to the public as a criterion of a "balanced budget" national economic strategy. At the same time, a 60 per cent maximum allowed ratio of public debt-to-GDP shall be applied as a supplementary fiscal convergence measure.
Download or read book The Quality of Public Expenditures in the EU written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: Composition and quality of public expenditures in the EU - Improving the efficiency of public expenditure - Growth-enhancing and high-quality expenditure in the EU budgetary framework - A way forward for the assessment of quality of public expenditures in the EU.
Download or read book National Fiscal Governance Reforms Across EU Member States written by Joaquim Ayuso-i-Casals and published by . This book was released on 2010 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: Overview of the information contained in the 2009-2010 SCPs - Type of measures according to the main elements of domestic frameworks - The assessment of domestic fiscal frameworks reforms by the Commission - Annex: Country specific information based on the 2009-2010 SCPs.
