Les collectivités locales peuvent-elles restaurer leur capacité de financement ?. Les enseignements du modèle macroéconomique APUL

Guy Gilbert, Alain Guengant and Christophe Tavera ()

Economie & Prévision, 2009, vol. n° 189, issue 3, 21-39

Abstract: simulation exercises. The first result confirms that in a context of moderate economic growth, moderate inflation,and interest rates, French local-government budgets are likely to reach equilibrium by 2010. The simulation exercises alsoconfirm (1) the pro-cyclical behavior of local fiscal policy, as the acceleration of economic growth increases the budgetsurplus or reduces the deficit ; (2) the positive net effect of higher interest rates on local fiscal positions, as the dampeningeffect of weaker investment demand exceeds the rise in interest payments ; (3) the negative effect of an increase in pricesof investment goods relative to GDP prices.

Keywords: local finances; fiscal equilibrium; macroeconomic models (search for similar items in EconPapers)
Date: 2009
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Related works:
Journal Article: Les collectivités locales peuvent-elles restaurer leur capacité de financement ? Les enseignements du modèle macroéconomique APUL (2009)
Working Paper: Les collectivités locales peuvent-elles restaurer leur capacité de financement ? Les enseignements du modèle macroéconomique APUL (2009)
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