Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152907
Authors: 
Afonso, António
Nickel, Christiane
Rother, Philipp
Year of Publication: 
2005
Series/Report no.: 
ECB Working Paper 473
Abstract: 
We study fiscal consolidations in the Central and Eastern European countries and what determines the probability of their success. We define consolidation events as substantive improvements in fiscal balances adjusting for the impact of cyclical effects. We use Logit models for the period 1991–2003 to assess the determinants of the success of a fiscal adjustment. The results seem to suggest that for these countries expenditure based consolidations have tended to be more successful. By contrast, revenue based consolidations have a tendency to be less successful.
Subjects: 
central and eastern Europe
fiscal episodes
Fiscal Policy
Logit models
JEL: 
C25
E62
H62
Document Type: 
Working Paper

Files in This Item:
File
Size
833.96 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.