Fiscal policy stance during past periods of expansion

Maria Grazia Attinasi, Alessandra Anna Palazzo and Beatrice Pierluigi

Economic Bulletin Boxes, 2018, vol. 2

Abstract: The box looks at the fiscal policy stance in the euro area during past expansionary periods and the extent to which good economic times have been used to build fiscal buffers. It argues that the midly countercyclical or broadly netrual stance that prevailed during the expansionary phase before the financial crisis was not sufficient to built adequate buffers fo the following recession. JEL Classification: E62, H60

Keywords: business cycle; cyclically adjusted primary balance (search for similar items in EconPapers)
Date: 2018-03
Note: 930374
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2018:0002:7

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