Twin Deficits and Fiscal Spillovers in the European Periphery (Candidate Countries to EU Accession): A Keynesian Perspective

Denis Vîntu

MPRA Paper from University Library of Munich, Germany

Abstract: This study examines how fiscal policy affects the economy in order to assess the degree of uncertainty around public finances. The Financial Approach focuses on the collection and utilization of private property by public administration. The title of this paper indicates that it deals with dynamic tax policy concerns. These include the relationship between long-term expectations and short-term outcomes, the impact of fiscal policy on capital formation, economic development, and intergenerational equity, and the extent to which current policies impede the introduction of potential future policies. Dynamic analysis has recently surpassed static analysis in a number of economic fields. It is appropriate to focus on the monetary strategy in particular because it has been modified and adjusted over time in the Republic of Moldova. These adjustments are frequently made beforehand, while they occasionally take into account the present financial situation when it wasn't mentioned before. It should not be shocking that financial variables are always shifting. The direction of the economy is affected by the current policy changes, which ineluctably call for other policy adjustments in the future. The expectation of these future adjustments, however, also has an impact on the current outcomes since it ensures that the consequences of past monetary actions remain, even in the absence of the entire future financial arrangement.

Keywords: fiscal policy; budget fiscal deficit; primary account deficit; value-added tax; taxation. (search for similar items in EconPapers)
JEL-codes: E3 E37 H3 (search for similar items in EconPapers)
Date: 2024-09, Revised 2024-08
New Economics Papers: this item is included in nep-eec and nep-pbe
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Published in Социально-экономическое пространство регионов. 2024. 18.3(2024): pp. 160-174

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