Fiscal policies in the European Union during the crisis

In: Panoeconomicus: naučno-stručni časopis Saveza Ekonomista Vojvodine ; scientific-professional journal of Economists' Association of Vojvodina, Band 62, Heft 2, S. 131-155

Abstract

The paper studies the fiscal policies implemented in the European Union
countries since the beginning of the current crisis. With this aim in mind we
have analyzed separately the expansionary fiscal policies implemented at the
first stage of the crisis and the fiscal consolidation policies that became
widespread at the beginning of the current decade. Studying the content of
the national fiscal policies (discretionary measures versus built-in
stabilizers, revenue-based versus expenditure-based fiscal policies, the
relationship existing between the size of the fiscal impulses-adjustments and
the composition of these measures) shows the significant differences between
the fiscal policies implemented in the European Union countries.