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Title:European fiscal policies under the stability pact - some first insights PDF Logo
Authors:Lehment, Harmen
Issue Date:2002
Series/Report no.:Kieler Arbeitspapiere 1098
Abstract:EU Member countries have shown different degrees of ambition to reach a budget position of ?close to balance or in surplus?. Differences in ambition can only partly be explained by the relative size of cyclical safety mar­gins or differences in the number of votes in the ECOFIN Council. It is also shown that in the medium run there is no evidence for a trade-off between budget consolidation and growth. Of the eight countries with the strongest reduction of structural budget deficits in the period 1992-2001, only one showed growth rates below the EU average. The other seven countries even managed to achieve higher growth rates than in the period 1974-91 during which structural deficits had increased.
Subjects:fiscal policy
budget deficits
European Union
JEL:E65
E61
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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