| Author (Person) | Hallett, Andrew Hughes |
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| Publisher | Centre for Economic Policy Research |
| Publication Date | 2003 |
| ISBN | 1-898128-82-0 |
| Content Type | Textbook | Monograph |
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Abstract: The aim of this report is 'to evaluate the effectiveness of the current institutional framework for ensuring fiscal discipline in Europe by evaluating past evidence on fiscal behaviour in Europe, and contrasting it with both what was intended to happen and what the latest data say'. The work is organised over eight chapters. Following an introduction, chapter two discusses the rationale for wanting to impose restrictions on fiscal behaviour. Chapter three provides an econometric analysis of the factors affecting the probability of starting a consolidation, and the longevity of these consolidations. Chapter four analyses fiscal policy in EU Member States since 1999 using a growth accounting technique, then chapter five considers the findings of that analysis and reviews the possible political economy factors behind them. Chapter six examines the question of whether composition or size is more important for a successful fiscal adjustment, while the crucial role of growth in achieving sound fiscal policies is explored in chapter seven. The concluding chapter offers insights as to the institutional and policy implications. The work will interest scholars and students of economics, fiscal management and EU studies. |
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| Source Link | Link to Main Source http://www.cepr.org |
| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
