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Fiscal sustainability in E.U.27

Author

Listed:
  • Tiwari , Aviral Kumar

    (Faculty of Management, IBS Hyderabad, FHE University, India)

  • Mutascu , Mihai

    (East European Center for Research in Economics and Business, West University of Timisoara, Romania)

Abstract

The present study is an attempt to investigate the budget deficit sustainability in the case of E.U. (European Union) 27, for the period 2000:04 - 2009:04 with quarterly observations using linear and nonlinear unit root tests in the panel framework. The main results illustrate that the fiscal policy is more sustainable in the euro area, than fiscal policy in non-euro zone. Only the linear tests of sustainability in euro area confirm the deficit criteria in terms of Maastricht Treaty and the stability and growth pact, as very important conditions for maintaining the sustainability and stabilization of the public finance in E.U. countries.

Suggested Citation

  • Tiwari , Aviral Kumar & Mutascu , Mihai, 2015. "Fiscal sustainability in E.U.27," European Economic Letters, European Economics Letters Group, vol. 4(1), pages 1-4.
    • Handle: RePEc:ris:eueclt:0032
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    More about this item

    Keywords

    Revenues; Expenditures; Budget deficit; Sustainability; EU;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • 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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