Fiscal Issues in Financial Crisis
By: Gligorov, Vladimir.
Material type:
BookSeries: wiiw Research Reports: 373Publisher: Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2011Description: 31 S., 11 Figures, 30cm.Subject(s): public debt | sustainability | No-Ponzi game criterion | private debt | foreign debtCountries covered: European Union | New EU Member States | SEEwiiw Research Areas: Macroeconomic Analysis and PolicyClassification: E62 | G18 Online resources: Click here to access online Summary: Fiscal constraint is potentially lax in catching-up economies, but it has not been abused by most countries considered in this paper. Fiscal risks are significant currently, but sustainability and structural balances are not threatened as a rule, if the return to potential growth rates is to be achieved in the medium run. The risks to countercyclical public financing could be discouraged by a comprehensive EU stabilization policy of some sort. Early euro adoption, absent credible stabilization policy, is not the first best policy option for fiscal policy targets.
| Item type | Current library | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|
| Paper | WIIW Library | 5.600/373 (Browse shelf(Opens below)) | Available | 1000010002482 |
Fiscal constraint is potentially lax in catching-up economies, but it has not been abused by most countries considered in this paper. Fiscal risks are significant currently, but sustainability and structural balances are not threatened as a rule, if the return to potential growth rates is to be achieved in the medium run. The risks to countercyclical public financing could be discouraged by a comprehensive EU stabilization policy of some sort. Early euro adoption, absent credible stabilization policy, is not the first best policy option for fiscal policy targets.
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