FISCAL VULNERABILITY vs. FISCAL SUSTAINABILITY: THEORETICAL BACKGROUND

Andreea Stoian

Theoretical and Applied Economics, 2011, vol. 5(558)(supplement), issue 5(558)(supplement), 541-547

Abstract: The aim of this study is to present the theoretical background for the concepts of fiscal vulnerability and fiscal sustainability. The distinction between them is very thin and accounts for the time horizon. For assessing the state (vulnerable/sustainable) of fiscal policy, it can be used few indicators. Applying them for the case of European Union members, it was shown that Belgium and Italy confronts with a vulnerable fiscal policy. In such situation, it is imperative for the governments to take fiscal adjustment measures to avoid an unsustainable fiscal policy in the long run.

Keywords: fiscal policy; public debt; primary balance; fiscal vulnerability; fiscal sustainability. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:5(558)(supplement):y:2011:i:5(558)(supplement):p:541-547

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