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Fiscal Archetypes in the European Union

Anton Gerunov ()

Bulgarian Economic Papers (www.bep.bg) from St Kliment Ohridski University of Sofia, Faculty of Economics and Business Administration / Center for Economic Theories and Policies

Abstract: A novel statistical approach is used to discern main types of public finance management (or fiscal archetypes) among countries in the European Union. Data, spanning 2002 to 2014, reveals four main archetypes across the dimensions of fiscal policy. Two of them are fiscally sustainable – one comprises big but responsible spenders, and the other – lean governments. Two of the archetypes are not sustainable, with expenditures exceeding revenue. Fiscal archetypes can be fruitfully used to prescribe tailored public policy interventions for countries, taking into account their specific economic and institutional circumstances and thus increasing the efficiency of policy.

Keywords: Public finance; fiscal aggregates; archetypes; clustering (search for similar items in EconPapers)
JEL-codes: H20 P16 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec and nep-pub
Date: 2015-03, Revised 2015-03
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2015-03

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