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Fiscal Adjustment in European Union Countries

Author

Listed:
  • Laura OBREJA BRASOVEANU

    (Academy of Economic Studies, Bucharest)

  • Iulian Viorel BRASOVEANU

    (Academy of Economic Studies, Bucharest)

Abstract

This article aims to identify the applied strategies for fiscal adjustments for the period 1996-2011 in European Union countries –there are determined the fiscal policy stance (neutral, relaxed, very relaxed, strict or very strict), there are considered the episodes of fiscal adjustment (a reduction of fiscal deficit more than 1,5 pp), there is identified the fiscal discipline and there are determined the characteristics of fiscal adjustment – the size, the composition (through the increase of public revenues or through the decrease of public expenditures) and the effect on the economic growth. Depending on the reaction of the real economy, measured by the evolution of economic growth, there are identified the “optimal” adjustment strategies.

Suggested Citation

  • Laura OBREJA BRASOVEANU & Iulian Viorel BRASOVEANU, 2012. "Fiscal Adjustment in European Union Countries," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 60(2), pages 60-65, May.
    • Handle: RePEc:rsr:supplm:v:60:y:2012:i:2:p:60-65
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    More about this item

    Keywords

    fiscal policy; fiscal adjustment; public revenues; public expenditures; fiscal discipline;
    All these keywords.

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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