Macrotheoretical foundations of fiscal consolidation

Liutyi I. and Osetska D.
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Liutyi I.: Taras Shevchenko National University of Kyiv
Osetska D.: Taras Shevchenko National University of Kyiv

Bulletin of Taras Shevchenko National University of Kyiv. Economics. Вісник Киiвського нацiонального унiверситету iм. Тараса Шевченка. Серiя: Економiка, 2016, issue 6 (183), 6-9

Abstract: The article analyses the unexplored category of "fiscal consolidation". The study shows a different interpretation of the content of fiscal consolidation. It was emphasized that in today's fiscal policy in the EU aims mainly at implementing fiscal consolidation programs that provide sustainable public finances by implementing measures to limit the fiscal imbalances (especially deficit of governance and public debt). The paper analyses the fiscal consolidation program aimed at stabilizing of public finances and improve their sustainability. The research proved that fiscal rules and norms contribute to the process of fiscal consolidation.

Keywords: FISCAL POLICY; FISCAL RULES; FISCAL CONSOLIDATION; BUDGET BALANCE; PUBLIC DEBT; STRUCTURAL AND CYCLICAL CHANGES SUSTAINABILITY OF PUBLIC FINANCES; ФіСКАЛЬНА ПОЛіТИКА; ФіСКАЛЬНі ПРАВИЛА; ФіСКАЛЬНА КОНСОЛіДАЦіЯ; БЮДЖЕТНИЙ БАЛАНС; ДЕРЖАВНИЙ БОРГ; СТРУКТУРНі ТА ЦИКЛіЧНі ЗМіНИ; СТіЙКіСТЬ ДЕРЖАВНИХ ФіНАНСіВ; ФИСКАЛЬНАЯ ПОЛИТИКА; ФИСКАЛЬНЫЕ ПРАВИЛА; ФИСКАЛЬНАЯ КОНСОЛИДАЦИЯ; БЮДЖЕТНЫЙ БАЛАНС; ГОСУДАРСТВЕННЫЙ ДОЛГ; СТРУКТУРНЫЕ И ЦИКЛИЧЕСКИЕ ИЗМЕНЕНИЯ; УСТОЙЧИВОСТЬ ГОСУДАРСТВЕННЫХ ФИНАНСОВ (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:scn:013723:16864092

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