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Structural Public Balance Adjustment Effects on Growth in 25 OECD Countries and the Eurozone

Author

Listed:
  • Rosaria Rita Canale

    (Department of Business and Economic Studies, University of Naples ‘Parthenope’, Via Generale Parisi, 13, Naples 80133, Italy. E-mails: rorita.canale@uniparthenope.it; giorgio.liotti@uniparthenope.it; oreste.napolitano@uniparthenope.it)

  • Giorgio Liotti

    (Department of Business and Economic Studies, University of Naples ‘Parthenope’, Via Generale Parisi, 13, Naples 80133, Italy. E-mails: rorita.canale@uniparthenope.it; giorgio.liotti@uniparthenope.it; oreste.napolitano@uniparthenope.it)

  • Oreste Napolitano

    (Department of Business and Economic Studies, University of Naples ‘Parthenope’, Via Generale Parisi, 13, Naples 80133, Italy. E-mails: rorita.canale@uniparthenope.it; giorgio.liotti@uniparthenope.it; oreste.napolitano@uniparthenope.it)

Abstract

The aim of the paper is to estimate the effects of structural public balance adjustment on growth in 25 OECD countries with special attention to selected Eurozone countries in the years 2000–2013. The estimates show a positive effect of discretionary fiscal policy on GDP growth and support the conclusion that structural adjustments have negative effects on growth irrespective of macroeconomic conditions. These results show that, if the reduction of the structural balance has to be considered as an objective to be achieved per se, such a goal should not be pursued in times of deteriorating macroeconomic conditions.

Suggested Citation

  • Rosaria Rita Canale & Giorgio Liotti & Oreste Napolitano, 2014. "Structural Public Balance Adjustment Effects on Growth in 25 OECD Countries and the Eurozone," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 56(4), pages 635-656, December.
    • Handle: RePEc:pal:compes:v:56:y:2014:i:4:p:635-656
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    Cited by:

    1. Rosaria Canale, 2015. "Capital flows, long term bond yields and fiscal stance: the Eurozone policy trilemma," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 14(1), pages 31-44, December.
    2. Liotti, Giorgio, 2020. "Labour market flexibility, economic crisis and youth unemployment in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 150-162.
    3. Giorgio Liotti, 2022. "Labour Market Regulation and Youth Unemployment in the EU-28," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(1), pages 77-103, March.

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