INVESTIGATING ROMANIAN FISCAL ADJUSTMENTS*

Emilia Campeanu () and Andreea Stoian

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 735-742

Abstract: Fiscal sustainability assessment depends on the active measures undertaken to limit the budget deficit. The aim of this paper is to analyze the composition of fiscal adjustments based on reaction function on Romania's case. The main findings reveals that the future active measures undertaken by Romanian government in order to prevent large fiscal imbalances and to assure condition for assessing fiscal sustainability on long run should rely upon expenditures and reduction of income and consumption taxation. Also, the reaction of fiscal balance to shocks on expenditures and taxation is delayed by three periods.

Keywords: fiscal sustainability; fiscal adjustment; structural deficit; primary balance; reaction function. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:735-742

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