Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness

Antonio Afonso and Sebastian Hauptmeier

No 1054, Working Paper Series from European Central Bank

Abstract: We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The results show that the existence of effective fiscal rules, the degree of public spending decentralization, and the electoral cycle can impinge on the country's fiscal position. Furthermore, the results also support the responsiveness of primary balances to government indebtedness. JEL Classification: C23, E62, H62

Keywords: European Union; fiscal decentralization; fiscal regimes; fiscal rules; Panel data (search for similar items in EconPapers)
Date: 2009-05
New Economics Papers: this item is included in nep-mac and nep-pbe
Note: 538998
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Citations: View citations in EconPapers (69)

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Related works:
Working Paper: Fiscal Behaviour in the European Union: Rules, Fiscal Decentralization and Government Indebtedness (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20091054

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