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    <link>https://hdl.handle.net/10419/110419</link>
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        <rdf:li rdf:resource="https://hdl.handle.net/10419/339064" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/339132" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/300296" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/266435" />
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    <dc:date>2026-04-29T14:45:52Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/339064">
    <title>The impossible trinity in economic and monetary union: How to solve it</title>
    <link>https://hdl.handle.net/10419/339064</link>
    <description>Title: The impossible trinity in economic and monetary union: How to solve it
Authors: Iancu, Aurel
Abstract: This article is focusing on the economic literature attempting to solve the problem of the impossible trilemmas of the euro area, by reconciling the relations between the three essential pillars - supranational monetary independence, national fiscal independence and the no bail-out clause applied in the union of states with single currency. The analyses carried out show that the first countries to fall victim to the economic and financial crisis where the least developed with high levels of public debt and which did not respect the nominal convergence criteria. The wide range of measures taken following the crises aimed not only at economic recovery, but also at significant changes in the architecture of the essential pillars and the relations between them by applying a mix of policies to relax these restrictive relations and accompanied by measures to respect financial and fiscal discipline. On the other hand, in order to resolve critical moments of financial balances, including insolvency, special intervention fund and financial facilities were created. It was the transition from the no bail-out clause to the explicit bail-out regime. The last section also reveals the existence of a significant upward trend in measures and reforms which support increasing efficiency of actions and fiscal competences at the EU and member state levels. The text emphasizes the EU's contribution to simplify and modernize the fiscal system of the member states. In the new conditions, fiscal policy should no longer be seen as a state of opposition between the common fiscal policy and the sovereign fiscal policy, but rather as a state of cooperation and support given to the member states under the conditions of the wide application of the principles of subsidiarity and proportionality.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/339132">
    <title>Convergence of public social expenditures in EU27</title>
    <link>https://hdl.handle.net/10419/339132</link>
    <description>Title: Convergence of public social expenditures in EU27
Authors: Olteanu, Dan
Abstract: In this paper we verify and quantify the convergence trend of public social expenditure at European Union level (27 countries), as well as between Western European (WE) and Central and Eastern European (CEE) countries between 1995 and 2022, structured on the three social sectors (health care, education and social protection), and three destinations (public consumption, compensation of employees and social benefits). At the same time, we investigate the manner and extent to which the effects of the Covid-19 crisis in 2020-2022 have affected this convergence trend.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/300296">
    <title>Debt limit, fiscal space and fiscal fatigue in the Central and Eastern European countries of EU</title>
    <link>https://hdl.handle.net/10419/300296</link>
    <description>Title: Debt limit, fiscal space and fiscal fatigue in the Central and Eastern European countries of EU
Authors: Iancu, Aurel; Olteanu, Dan
Abstract: This study analyzes the correlation between the primary budget balance and the public debt over the last two decades, for a panel of 12 countries from Central and Eastern Europe, in order to assess their debt sustainability, the level of debt at which fiscal fatigue may occur, as well as the degree of risk of fiscal fatigue, depending on the past and future evolution of public debt. First, using estimates of the cubic fiscal reaction function and two variants (quadratic / linear) of the financing cost function, we determined the equilibrium level of public debt as percentage of GDP, the" fiscal fatigue" point and the debt limit, for the whole panel and for each country. Second, by using the common (from panel regressions) and country-specific coefficients, and public debt projection for 10 and 5 years, we evaluated the level of risk for fiscal fatigue, in relation to the future evolution of public debt and other financial indicators.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
  </item>
  <item rdf:about="https://hdl.handle.net/10419/266435">
    <title>A prolonged divorce between economists and politicians</title>
    <link>https://hdl.handle.net/10419/266435</link>
    <description>Title: A prolonged divorce between economists and politicians
Authors: Pop, Napoleon; Ioan-Franc, Valeriu
Abstract: The academic world says that the divorce between economists and politicians became visible during the financial crisis that began in 2008, when the economists were criticised for failing to preview the crisis, on the one hand, and, on the other hand, for the slowness in accompanying the solutions to remedy the crisis which should have been suggested by the politicians in an emergency situation, of financial collapse. The divorce itself has been lasting for a long time with the relationship deteriorating for many other reasons. In the background there is (1) an elite of Nobel prize winning economists with permanent training and inclination towards research and results worthy of consideration, and (2) a political class in a quasi-constant professional decline. It is a worrying fact, also publicly acknowledged. The 21st century, which marks the greatest technological advance of the fourth industrial revolution, started with avatars coming seemingly from nowhere. Yet, this century which began with so much hope, brings us in the face of yet another break between science and practice. The phenomenon we refer to in the current study is just a small part of what it should have been the collaboration between politicians and science in general, but the specifics of the divorce we approach in this essay is the fact that it deepens.</description>
    <dc:date>2022-01-01T00:00:00Z</dc:date>
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