This paper analyses non-Keynesian effects in fiscal consolidations in the EU. The analysis is carried out both ex-post, i.e. by looking at the emergence of expansionary consolidations in the past and at their characteristics, and ex-ante, i.e. by simulating with the European Commission QUEST...

It is often claimed that the introduction of the EU rules-based fiscal framework of the Maastricht Treaty and the Stability and Growth Pact was responsible for a decline in public investment shares in EU countries. Proposals have also been made in recent times in favour of a revision of the EU...