Fiscal Policy In The Southern European Union Countries

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Fiscal Policy In The Southern European Union Countries

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Author : Milan Bednář
language : en
Publisher:
Release Date : 2023

Fiscal Policy In The Southern European Union Countries written by Milan Bednář and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.

This book examines public debt hoarding within the Euro Area, which is one of the most complicated challenges regarding modern fiscal policy-making. The author offers an up-to-date analysis of the fiscal situations of Italy, Spain, Portugal, and Greece. The book describes key mechanisms of debt transmission, discusses the potential establishment of fiscal and debt union in the EU, identifies numerous implications, and connects the fiscal positions of the examined countries with the structural flaws of the Euro Area and the monetary policy of the European Central Bank. Moreover, the work presents an estimation of structural budget balances, including a comparison with the estimates of major international institutions such as the IMF, OECD, and European Commission. A separate chapter is devoted to analysing the fiscal policy determinants, using time series since the late 19th century, and the issue of fiscal policy efficiency. Finally, the work provides an overview of debt resolution options. Overall, this book offers eight core chapters intended for the public, professional economists, and policymakers.

Designing A European Fiscal Union

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Author : Mr.Carlo Cottarelli
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-05

Designing A European Fiscal Union written by Mr.Carlo Cottarelli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-05 with Business & Economics categories.

Does the European Union need closer fiscal integration, and in particular a stronger fiscal centre, to become more resilient to economic shocks? This book looks at the experience of 13 federal states to help inform the heated debate on this issue. It analyses in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and draws lessons for a possible future fiscal union in Europe. More specifically, this book tries to answer three sets of questions: What is the role of centralized fiscal policies in federations, and hence the size, features and functions of the central budget? What institutional arrangements are used to coordinate fiscal policy between the federal and subnational levels? What are the links between federal and subnational debt, and how have subnational financing crises been handled, when they occurred? These policy questions are critical in many federations, and central to the current discussions about future paths for the European Union. This book brings to the table new, practical insights through a systematic and comprehensive comparison of the EU fiscal framework with that of federal states. It also departs from the decentralization perspective that has been prominent in the literature by focusing on the role of the centre (which responsibilities are centralized at the federal level and how they are handled, rather than which functions belong to the local level). Such an approach is particularly relevant for the European Union, where a fiscal union would imply granting new powers to the centre.

Fiscal Policy In The European Union

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Author : J. Ferreiro
language : en
Publisher: Springer
Release Date : 2008-11-27

Fiscal Policy In The European Union written by J. Ferreiro and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-27 with Business & Economics categories.

This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.

Economic Transformation Democratization And Integration Into The European Union

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Author : H. Gibson
language : en
Publisher: Springer
Release Date : 2001-02-01

Economic Transformation Democratization And Integration Into The European Union written by H. Gibson and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-02-01 with Political Science categories.

The transformation from a closed and inward-looking economy to an active integration into the European Union is one which a number of countries are facing. This book examines the experience of southern European countries where such transformation has occurred within a short space of time and has been accompanied by important socio-political developments including the consolidation of democracy. The various contributors focus on the motivation for economic change, the problems encountered and the lessons to be learnt.

Multi Level Finance And The Euro Crisis

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Author : Ehtisham Ahmad
language : en
Publisher: Edward Elgar Publishing
Release Date : 2016-01-29

Multi Level Finance And The Euro Crisis written by Ehtisham Ahmad and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-29 with Business & Economics categories.

Representing a unique contribution to the analysis and discussion of the unfolding Eurozone crisis in terms of the relationship between central and local government, this book addresses a number of important fiscal and political economy questions. To what extent have local and regional governments contributed to the crisis? To what degree have sub-national services and investments borne the brunt of the adjustments? How have multi-level fissures affected tensions between different levels of government from the supranational to the local? This volume covers these and many other critical issues that have been largely ignored despite their relevance. The book first addresses general issues of fiscal coordination and management across levels of government in the context of incentives, which can be altered by the existence of a supranational tier. The country-specific chapters, prepared by leading experts, provide a thorough review of the key problems of multi-levels of government in the biggest economies in the Eurozone (France and Germany) and Southern Europe (Portugal, Spain, Italy and Greece). In further chapters the juxtaposition of Barcelona and Turin provides an opportunity to evaluate large investments in a multi-level context, associated, in this case, with the Olympics. Macedonia provides a discussion of the related issues in an EU accession country. As a whole, the book explores the long-term impact of the crisis on local service delivery and investment, and the consequences for sustainable growth and political cohesion. It also offers rarely found insights and suggestions to increase the stability and strength of multi-level European institutions. This is an enlightening resource for all those, from academics and graduates to policy makers and practitioners, seeking a comprehensive understanding of European fiscal, federal and financial issues.

Fiscal Devaluation In A Monetary Union

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Author : Philipp Engler
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-30

Fiscal Devaluation In A Monetary Union written by Philipp Engler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-30 with Business & Economics categories.

Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ‘Southern European countries’ has a strong positive effect on output, but mild effects on the trade balance and the real exchange rate. Since the benefits of a FD are small relative to the divergence in competitiveness, it is best addressed through structural reforms.

Economic Crisis And Austerity In Southern Europe

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Author : Maria Petmesidou
language : en
Publisher: Routledge
Release Date : 2017-10-02

Economic Crisis And Austerity In Southern Europe written by Maria Petmesidou and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-02 with Political Science categories.

Southern Europe has been hit hard by the global economic crisis and, as such, their welfare states have come under acute strain. Unmet need has sharply increased while significant welfare reforms and deep social spending cuts have been prominent in the crisis management solutions implemented by governments, labouring under EU constraints and the strict rescue-deal requirements for Greece and Portugal. This volume provides a systematic comparative appraisal of welfare-state reform trajectories across Southern Europe prior to and during the crisis, and traces the impact of austerity policies and wider recession upon income inequality and poverty. It brings together a number of cross-country studies on major social policy areas, raising crucial questions. What policy choices are driving reforms as Southern European economies work their way out of fiscal difficulty? Can the crisis provoke the improvement of institutional capabilities and recalibration of social? Or, instead, does structural adjustment indicate a significant policy turn towards the erosion of social rights? The contributions critically approach these issues and bring evidence to bear upon whether Southern European welfare capitalisms are becoming more dissimilar. This book was originally published as a special issue of South European Society & Politics.

Fiscal Policy Making In The European Union

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Author : Martin Larch
language : en
Publisher:
Release Date : 2009

Fiscal Policy Making In The European Union written by Martin Larch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.

"Fiscal policy making in the European Union is a national prerogative that is carried out and co-ordinated within the remits of the Stability and Growth Pact (SGP). The SGP Member States have agreed upon a rules-based framework which, abstracting from operational details, aims to ensure long-term sustainability of public finances while allowing for short-term fiscal stabilization. The success of the EU fiscal framework depends to a large extent on the effectiveness and accuracy of the tool-kit of indicators and methods used at the EU level to monitor and assess the fiscal performance of the Member States vis-a-vis the requirements of the SGP. The contributions to this volume examine key aspects of the measurement of fiscal policy making in the context of the EU fiscal surveillance framework. They highlight strengths and weaknesses of current assessment practice, including innovations implied by the 2005 revision of the SGP." --Book Jacket.

The Impact Of The Economic Crisis On South European Democracies

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Author : Leonardo Morlino
language : en
Publisher: Springer
Release Date : 2017-03-30

The Impact Of The Economic Crisis On South European Democracies written by Leonardo Morlino and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-30 with Political Science categories.

This book questions whether and to what extent a conjunctural phenomenon such as an economic crisis can bring about lasting political consequences. It focuses on the parties and party systems of four South European countries (Portugal, Spain, Italy, and Greece) between 2008-15. The authors also consider how elections, protests, and interests are affected by the crisis in these four democracies, before assessing how to define the impact of the economic crisis on political participation and competition. In this vein the book analyzes relevant aspects of party systems, the notion of neo-populism as a key to understanding new actors of South European policy, and interest intermediation as a factor of weakness in managing the crisis. Finally, the authors summarize the empirical results emerging from the research: the partial reshaping of cleavages as well as the relevance of the establishment vs. anti-establishment cleavage for the emergence and success of neo-populist parties. The book will be of use to students and scholars interested in South European politics, comparative politics, and democracies.

Fiscal Policy In The Southern European Union Countries

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Author : Milan Bednář
language : en
Publisher: Springer Nature
Release Date : 2023-05-10

Fiscal Policy In The Southern European Union Countries written by Milan Bednář and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-10 with Business & Economics categories.

This book examines public debt hoarding within the Euro Area, which is one of the most complicated challenges regarding modern fiscal policy-making. The author offers an up-to-date analysis of the fiscal situations of Italy, Spain, Portugal, and Greece. The book describes key mechanisms of debt transmission, discusses the potential establishment of fiscal and debt union in the EU, identifies numerous implications, and connects the fiscal positions of the examined countries with the structural flaws of the Euro Area and the monetary policy of the European Central Bank. Moreover, the work presents an estimation of structural budget balances, including a comparison with the estimates of major international institutions such as the IMF, OECD, and European Commission. A separate chapter is devoted to analysing the fiscal policy determinants, using time series since the late 19th century, and the issue of fiscal policy efficiency. Finally, the work provides an overview of debt resolution options. Overall, this book offers eight core chapters intended for the public, professional economists, and policymakers.