The lack of consistency in budget deficit criteria in the Stability and Growth Pact
European public debt crisis led to a reversal of economic strategy for the policy makers. The lack of vision when choosing the budget deficit as an important factor in SGP has allowed a discretionary fiscal behavior for the member states. The budget deficit of the member states was strongly influenc...
| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2013-01-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/816.pdf
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| _version_ | 1798043858178670592 |
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| author | Andrei HREBENCIUC |
| author_facet | Andrei HREBENCIUC |
| author_sort | Andrei HREBENCIUC |
| collection | DOAJ |
| description | European public debt crisis led to a reversal of
economic strategy for the policy makers. The lack of vision when
choosing the budget deficit as an important factor in SGP has allowed a
discretionary fiscal behavior for the member states. The budget deficit of
the member states was strongly influenced by the cyclical component of
the budget between 2002-2007, the reversing of the economic cycle
creating the impossibility of rapid fiscal adjustments. Selecting the
structural deficit as part of the Stability and Growth Pact would have
allowed an early alert of fiscal imbalances and a resetting of economic
strategy in the Member States. |
| first_indexed | 2024-04-11T22:54:56Z |
| format | Article |
| id | doaj.art-e4e63a79f0e84abea174b6d5fc467cba |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-04-11T22:54:56Z |
| publishDate | 2013-01-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-e4e63a79f0e84abea174b6d5fc467cba2022-12-22T03:58:28ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292013-01-01XX1637218418678The lack of consistency in budget deficit criteria in the Stability and Growth PactAndrei HREBENCIUC0 The Bucharest University of Economic Studies European public debt crisis led to a reversal of economic strategy for the policy makers. The lack of vision when choosing the budget deficit as an important factor in SGP has allowed a discretionary fiscal behavior for the member states. The budget deficit of the member states was strongly influenced by the cyclical component of the budget between 2002-2007, the reversing of the economic cycle creating the impossibility of rapid fiscal adjustments. Selecting the structural deficit as part of the Stability and Growth Pact would have allowed an early alert of fiscal imbalances and a resetting of economic strategy in the Member States. http://store.ectap.ro/articole/816.pdf Public debt crisisbudget deficitNash equilibriumfiscal policymonetary policy |
| spellingShingle | Andrei HREBENCIUC The lack of consistency in budget deficit criteria in the Stability and Growth Pact Theoretical and Applied Economics Public debt crisis budget deficit Nash equilibrium fiscal policy monetary policy |
| title | The lack of consistency in budget deficit criteria in the Stability and Growth Pact |
| title_full | The lack of consistency in budget deficit criteria in the Stability and Growth Pact |
| title_fullStr | The lack of consistency in budget deficit criteria in the Stability and Growth Pact |
| title_full_unstemmed | The lack of consistency in budget deficit criteria in the Stability and Growth Pact |
| title_short | The lack of consistency in budget deficit criteria in the Stability and Growth Pact |
| title_sort | lack of consistency in budget deficit criteria in the stability and growth pact |
| topic | Public debt crisis budget deficit Nash equilibrium fiscal policy monetary policy |
| url |
http://store.ectap.ro/articole/816.pdf
|
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