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Fiscal policy stance during past periods of expansion

Author

Listed:
  • Attinasi, Maria Grazia
  • Palazzo, Alessandra Anna
  • Pierluigi, Beatrice

Abstract

The box looks at the fiscal policy stance in the euro area during past expansionary periods and the extent to which good economic times have been used to build fiscal buffers. It argues that the midly countercyclical or broadly netrual stance that prevailed during the expansionary phase before the financial crisis was not sufficient to built adequate buffers fo the following recession. JEL Classification: E62, H60

Suggested Citation

  • Attinasi, Maria Grazia & Palazzo, Alessandra Anna & Pierluigi, Beatrice, 2018. "Fiscal policy stance during past periods of expansion," Economic Bulletin Boxes, European Central Bank, vol. 2.
    • Handle: RePEc:ecb:ecbbox:2018:0002:7
    Note: 930374
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    File URL: https://www.ecb.europa.eu//pub/pdf/other/ebbox201802_07.en.pdf
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    Citations

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    Cited by:

    1. Attinasi, Maria Grazia & Palazzo, Alessandra Anna & Pierluigi, Beatrice, 2019. "Fiscal activism in the euro area and in other advanced economies: new evidence," Working Paper Series 2344, European Central Bank.

    More about this item

    Keywords

    business cycle; cyclically adjusted primary balance;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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