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Fiscal Archetypes in the European Union

Author

Listed:
  • Anton Gerunov

    (St Kliment Ohridski University of Sofia, Faculty of Economics and Business Administration)

Abstract

A novel statistical approach is used to discern main types of public finance management (or fiscal archetypes) among countries in the European Union. Data, spanning 2002 to 2014, reveals four main archetypes across the dimensions of fiscal policy. Two of them are fiscally sustainable – one comprises big but responsible spenders, and the other – lean governments. Two of the archetypes are not sustainable, with expenditures exceeding revenue. Fiscal archetypes can be fruitfully used to prescribe tailored public policy interventions for countries, taking into account their specific economic and institutional circumstances and thus increasing the efficiency of policy.

Suggested Citation

  • Anton Gerunov, 2015. "Fiscal Archetypes in the European Union," Bulgarian Economic Papers bep-2015-03, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Mar 2015.
    • Handle: RePEc:sko:wpaper:bep-2015-03
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    File URL: https://www.uni-sofia.bg/index.php/eng/content/download/136735/1006703/file/BEP-2015-03.pdf
    File Function: First version, 2015
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    More about this item

    Keywords

    Public finance; fiscal aggregates; archetypes; clustering;
    All these keywords.

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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