Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness

We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The results show that the existence of effective fiscal rules, the degree of public spending decentralization, and the electoral cycle can impinge on the country’s fiscal position. Furthermore, the results also support the responsiveness of primary balances to government indebtedness.

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Year of publication:	2009
Authors:	Afonso, António ; Hauptmeier, Sebastian
Publisher:	Frankfurt a. M. : European Central Bank (ECB)
Subject:	Öffentlicher Haushalt \| Haushaltsdefizit \| Finanzpolitik \| Dezentralisierung \| Politischer Konjunkturzyklus \| Panel \| EU-Staaten \| European Union \| fiscal decentralization \| fiscal regimes \| fiscal rules \| panel data

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Series:	ECB Working Paper ; 1054
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	606764801 [GVK] hdl:10419/153488 [Handle] RePEc:ecb:ecbwps:20091054 [RePEc]
Classification:	C23 - Models with Panel Data ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H62 - Deficit; Surplus
Source:	EconStor

Persistent link: https://www.econbiz.de/10011605100