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.
- Umfang
-
Seite(n): 191-211
- Sprache
-
Englisch
- Anmerkungen
-
Status: Postprint; begutachtet (peer reviewed)
- Erschienen in
-
European Union Politics, 7(2)
- Thema
-
Wirtschaft
Öffentliche Finanzen und Finanzwissenschaft
Wirtschaftspolitik
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Mink, Mark
Haan, Jakob de
- Ereignis
-
Veröffentlichung
- (wo)
-
Vereinigtes Königreich
- (wann)
-
2006
- DOI
- URN
-
urn:nbn:de:0168-ssoar-228983
- Rechteinformation
-
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Letzte Aktualisierung
-
21.06.2024, 16:27 MESZ
Datenpartner
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Objekttyp
- Zeitschriftenartikel
Beteiligte
- Mink, Mark
- Haan, Jakob de
Entstanden
- 2006
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