Journal article | Zeitschriftenartikel
Are there Political Budget Cycles in the Euro Area?
This article examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivari ate model for 1999–2004 and various election indicators we find strong evidence that, since the start of the Stability and Growth Pact, fiscal policy-makers in the euro area have pursued expansionary policies before elections. In an election year – but not in the year prior to the election – the budget deficit increases. This result is in line with third-generation PBC models, which are based on moral hazard. We also find a significant but small partisan effect on fiscal policy outcomes.
- Extent
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Seite(n): 191-211
- Language
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Englisch
- Notes
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Status: Postprint; begutachtet (peer reviewed)
- Bibliographic citation
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European Union Politics, 7(2)
- Subject
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Wirtschaft
Öffentliche Finanzen und Finanzwissenschaft
Wirtschaftspolitik
- Event
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Geistige Schöpfung
- (who)
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Mink, Mark
Haan, Jakob de
- Event
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Veröffentlichung
- (where)
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Vereinigtes Königreich
- (when)
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2006
- DOI
- URN
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urn:nbn:de:0168-ssoar-228983
- Rights
-
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Last update
-
21.06.2024, 4:27 PM CEST
Data provider
This object is provided by:
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
Object type
- Zeitschriftenartikel
Associated
- Mink, Mark
- Haan, Jakob de
Time of origin
- 2006
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Trends and cycles in Euro area real GDP
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Can we prevent boom-bust cycles during euro area accession?
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