Konferenzbeitrag
Towards Expenditure Rules and Fiscal Sanity in the Euro Area
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999- 2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on expenditure rules since the start of EMU. It also calculates the implications for debt trends. It finds that, all sample countries except Germany applied expansionary expenditure policies. This resulted in much higher expenditure and debt paths compared to a counterfactual neutral expenditure stance. Simple and prudent rules-based spending policies could have led to much safer fiscal positions much more in line with the EU’s Stability and Growth Pact rules.
- Language
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Englisch
- Bibliographic citation
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2011: Die Ordnung der Weltwirtschaft: Lektionen aus der Krise - Session: Sovereign Debt Crises II ; No. B2-V3
- Classification
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Wirtschaft
General Economics: General
Role of Economics; Role of Economists; Market for Economists
History of Economic Thought: Macroeconomics
- Subject
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Expenditure policies
public debt
expenditure rules
sustainability
fiscal stance
- Event
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Geistige Schöpfung
- (who)
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Schuknecht, Ludger
Hauptmeier, Sebastian
Sanchez Fuéntes, Jésus
- Event
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Veröffentlichung
- (when)
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2011
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Schuknecht, Ludger
- Hauptmeier, Sebastian
- Sanchez Fuéntes, Jésus
Time of origin
- 2011
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