Fiscal policies and business cycles in an enlarged euro area
Karsten Staehr ()
No 2007-03, Bank of Estonia Working Papers from Bank of Estonia
This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future members from Central and Eastern Europe. For the sample period 1995-2005, the fiscal balance exhibits less inertia and is more counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease over time. Autonomous fiscal policy has little or no effect on cyclical variability in either of the two groups of countries. Counter-cyclical fiscal policy appears to be effective in Central and Eastern European countries, but largely ineffective in eurozone countries
Keywords: fiscla policy determinants; fiscal policy effects; eurozone expansion (search for similar items in EconPapers)
JEL-codes: E62 E63 E32 (search for similar items in EconPapers)
Pages: 37 pg.
Date: 2007-03-08, Revised 2007-03-08
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac, nep-pbe and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://www.eestipank.ee/sites/eestipank.ee/files/p ... ers/2007/_wp_307.pdf (application/pdf)
Journal Article: Fiscal policies and business cycles in an enlarged euro area (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eea:boewps:wp2007-03
Ordering information: This working paper can be ordered from
Estonia bld. 13, 15095 Tallinn, ESTONIA
Access Statistics for this paper
More papers in Bank of Estonia Working Papers from Bank of Estonia Estonia bld. 13, 15095 Tallinn, ESTONIA. Contact information at EDIRC.
Bibliographic data for series maintained by Peeter Luikmel ().