HOME » wiiw Research Reports » Fiscal Issues in Financial Crisis
Fiscal constraint is potentially lax in catching-up economies, but it has not been abused by most countries considered in this paper. Fiscal risks are significant currently, but sustainability and structural balances are not threatened as a rule, if the return to potential growth rates is to be achieved in the medium run. The risks to countercyclical public financing could be discouraged by a comprehensive EU stabilization policy of some sort. Early euro adoption, absent credible stabilization policy, is not the first best policy option for fiscal policy targets.
wiiw Research Reports
 |
Fiscal Issues in Financial Crisis (by Vladimir Gligorov) wiiw Research Report No. 373, September 2011 31 pages including 11 Figures DOWNLOAD (Login required)
Keywords: public debt, sustainability, No-Ponzi game criterion, private debt, foreign debt JEL classification: E62, G18 Countries covered: European Union, New EU Member States, SEE Topics: Macroeconomic Analysis and Policy, Other |
Add to cartFiscal constraint is potentially lax in catching-up economies, but it has not been abused by most countries considered in this paper. Fiscal risks are significant currently, but sustainability and structural balances are not threatened as a rule, if the return to potential growth rates is to be achieved in the medium run. The risks to countercyclical public financing could be discouraged by a comprehensive EU stabilization policy of some sort. Early euro adoption, absent credible stabilization policy, is not the first best policy option for fiscal policy targets.
Visitors who downloaded this publication/presentation also downloaded:
|
Monthly Report No. 10/2012 (by Rumen Dobrinsky, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic) Leon Podkaminer (ed) wiiw Monthly Report No. 10, October 2012 46 pages including 20 Tables DETAILS |
|
Monthly Report No. 11/2012 (by Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner, Olga Pindyuk and Hermine Vidovic) Leon Podkaminer (ed) wiiw Monthly Report No. 11, November 2012 40 pages including 18 Tables DETAILS |
|
Monthly Report No. 12/2012 (by Vasily Astrov, Leon Podkaminer and Jan Toporowski) Leon Podkaminer (ed) wiiw Monthly Report No. 12, December 2012 28 pages including 13 Tables and 5 Figures DETAILS |
