What Drives the Responsiveness of the Budget Balance to the Business Cycle in EU Countries?

Gilles Mourre and Aurélien Poissonnier

Intereconomics: Review of European Economic Policy, 2019, vol. 54, issue 4, 237-249

Abstract: Abstract The European Commission methodology for computing the cyclically adjusted government budget balance provides a robust measurement of the fiscal position of the Member States. The fiscal semi-elasticities at the core of this method are structural parameters, mostly of fiscal nature, not linked to cyclical or other economic factors. Fiscal semi-elasticities also exhibit an emulation effect between neighbours and some groupings of countries.

Date: 2019
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Working Paper: The Semi-Elasticities Underlying the Cyclically-Adjusted Budget Balance: An Update and Further Analysis (2019)
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DOI: 10.1007/s10272-019-0831-2

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