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Bank Rescues and Fiscal Policy in the European Union during the Great Recession

Jesus Ferreiro (), Catalina Gálvez Author-Email: Catalina.galvez@ehu.eus, Carmen Gómez Author-Email: Carmen.gomez@ehu.eus and Ana González Author-Email: Ana.gonzalezflores@ehu.eus
Additional contact information
Catalina Gálvez Author-Email: Catalina.galvez@ehu.eus: Department of Applied Economics V, University of the Basque Country UPV/EHU, Spain
Carmen Gómez Author-Email: Carmen.gomez@ehu.eus: Department of Applied Economics V, University of the Basque Country UPV/EHU, Spain
Ana González Author-Email: Ana.gonzalezflores@ehu.eus: Department of Applied Economics V, University of the Basque Country UPV/EHU, Spain

Authors registered in the RePEc Author Service: Ana González Flores

Panoeconomicus, 2016, vol. 63, issue 2, 211-230

Abstract: The outbreak of the economic and financial crisis in 2008, the so- called Great Recession, has made that many European Union countries have made massive interventions in their banking and financial systems. These interventions have had a considerable impact in the public finances of these countries. The aim of the paper is to analyze the impact on the national public budgets of the measures of public support to problem financial institutions carried out between the years 2008 and 2013, and to study how this budgetary impact has affected to the fiscal imbalances and to the strategies of fiscal im- pulse and consolidation implemented along these years.

Keywords: European Union; Fiscal policy; Great Recession; Financial crisis; Bank rescues (search for similar items in EconPapers)
JEL-codes: E62 E65 H62 O52 (search for similar items in EconPapers)
Date: 2016
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