Monitoring fiscal adjustments in the European Union and EMU
In: Diskussionspapier 99,4
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In: Diskussionspapier 99,4
In: Working paper 303
In: ZEI Studies in European economics and law Vol. 2
World Affairs Online
In: Public choice, Band 109, Heft 3-4, S. 327-346
ISSN: 0048-5829
Recent research has demonstrated the importance of good quality of fiscal adjustments for the success of government budget consolidations. We extend this approach to analyze the importance of the economic conditions in which fiscal consolidations are started for their success. The cyclical positions of the domestic & international economy, the initial debt level, & the stance of fiscal policy in the OECD are all important determinants of the likelihood of fiscal consolidations. They also affect the government's choice of consolidation strategy, making them important determinants of the success of fiscal consolidations. In contrast, the monetary policy stance plays only a negligible role for fiscal consolidations. The authors use the analysis to test for any Maastricht effects on the performance of European governments during the 1990s. Such effects are weak at best & occurred only during the first half of the decade. 9 Tables, 13 References. Adapted from the source document.
In: Public choice, Band 109, Heft 3, S. 327-346
ISSN: 0048-5829
In: Cambridge studies in comparative politics
In: ZEI working paper / ZEI, B 02-19
World Affairs Online
In: ZEI Working Paper, B5/1999
World Affairs Online
In: Occasional paper series 83
In: ZEI Working Paper, B 13/2001
World Affairs Online
In: ZEI Working Paper, B 14/2001
World Affairs Online
In: British journal of political science, Band 42, Heft 3, S. 573-597
ISSN: 0007-1234