Economics, Politics and Budgets: The Political Economy of Fiscal Consolidations in Europe

Media type: E-Book

Title: Economics, Politics and Budgets : The Political Economy of Fiscal Consolidations in Europe

Contains: Cover; Contents; List of Tables; List of Figures; List of Abbreviations; Acknowledgements; 1 Introduction; 1.1 Strategies of fiscal adjustment; 1.2 Economic and political factors influencing the adoption of different adjustment strategies; 1.3 Economic and political consequences of adopting different adjustment strategies; 1.4 Five questions and hypotheses: a summary of the book's argument; 1.5 The structure of the study; 2 Economics, Politics and Fiscal Policy; 2.1 Governments and economic policy; 2.2 Fiscal policies in the European Union, 1970-2000
2.3 The economics of fiscal policies and fiscal adjustments2.4 The politics of fiscal policies and fiscal adjustments; 2.5 The five hypotheses of the book; 2.6 Conclusion; 3 Timing and Duration of Fiscal Adjustments; 3.1 What is a fiscal adjustment?; 3.2 Strategies of fiscal adjustment: timing, duration and composition; 3.3 The timing of fiscal adjustments: the 'fiscal stress hypothesis'; 3.4 The duration of fiscal adjustments: the 'debt burden hypothesis'; 3.5 Economic and political factors during stronger consolidations; 3.6 Conclusion; 4 The Composition of Fiscal Adjustments
4.1 Why is composition of the budget important?4.2 Economics, politics and composition of the budget; 4.3 Composition of the budget during fiscal adjustments: the 'partisanship hypothesis'; 4.4 Conclusion; 5 Fiscal Adjustments in the 1990s: Case Studies; 5.1 The Maastricht Treaty and the decision of monetary union; 5.2 Case studies: complying with the Maastricht criteria and the influence of political variables; 5.3 Conclusion; 6 The Economic Consequences of Fiscal Adjustments; 6.1 Fiscal policy and the macroeconomy; 6.2 The 'economic trade-off hypothesis'
6.3 The economic impact of fiscal adjustments: means analysis6.4 The economic impact of fiscal adjustments: parametric analysis during the 1990s; 6.5 Conclusion; 7 The Political Consequences of Fiscal Adjustments; 7.1 Economic policy, fiscal adjustments and elections; 7.2 The 'fiscal voting hypothesis'; 7.3 The electoral consequences of fiscal adjustments - estimation results; 7.4 The post-Maastricht period; 7.5 Conclusion; 8 Conclusion; Appendices; Appendix 1: Cyclically Adjusted Budget Balances: The Commission's Method; Appendix 2: Duration Models
Appendix 3: The Panel-Corrected Standard Errors TechniqueAppendix 4: The Effect of the Budget Process on Fiscal Policy; Appendix 5: The Economic Impact of Consolidations; Statistical Annex; Statistical Annex 1: Dependent and Independent Variables: Descriptive Statistics; Statistical Annex 2: Data on General Government Balances and Cyclical Corrections: Definitions and Tables; Notes and References; Bibliography; Index
Cover; Contents; List of Tables; List of Figures; List of Abbreviations; Acknowledgements; 1 Introduction; 1.1 Strategies of fiscal adjustment; 1.2 Economic and political factors influencing the adoption of different adjustment strategies; 1.3 Economic and political consequences of adopting different adjustment strategies; 1.4 Five questions and hypotheses: a summary of the book's argument; 1.5 The structure of the study; 2 Economics, Politics and Fiscal Policy; 2.1 Governments and economic policy; 2.2 Fiscal policies in the European Union, 1970-2000
2.3 The economics of fiscal policies and fiscal adjustments2.4 The politics of fiscal policies and fiscal adjustments; 2.5 The five hypotheses of the book; 2.6 Conclusion; 3 Timing and Duration of Fiscal Adjustments; 3.1 What is a fiscal adjustment?; 3.2 Strategies of fiscal adjustment: timing, duration and composition; 3.3 The timing of fiscal adjustments: the 'fiscal stress hypothesis'; 3.4 The duration of fiscal adjustments: the 'debt burden hypothesis'; 3.5 Economic and political factors during stronger consolidations; 3.6 Conclusion; 4 The Composition of Fiscal Adjustments
4.1 Why is composition of the budget important?4.2 Economics, politics and composition of the budget; 4.3 Composition of the budget during fiscal adjustments: the 'partisanship hypothesis'; 4.4 Conclusion; 5 Fiscal Adjustments in the 1990s: Case Studies; 5.1 The Maastricht Treaty and the decision of monetary union; 5.2 Case studies: complying with the Maastricht criteria and the influence of political variables; 5.3 Conclusion; 6 The Economic Consequences of Fiscal Adjustments; 6.1 Fiscal policy and the macroeconomy; 6.2 The 'economic trade-off hypothesis'
6.3 The economic impact of fiscal adjustments: means analysis6.4 The economic impact of fiscal adjustments: parametric analysis during the 1990s; 6.5 Conclusion; 7 The Political Consequences of Fiscal Adjustments; 7.1 Economic policy, fiscal adjustments and elections; 7.2 The 'fiscal voting hypothesis'; 7.3 The electoral consequences of fiscal adjustments - estimation results; 7.4 The post-Maastricht period; 7.5 Conclusion; 8 Conclusion; Appendices; Appendix 1: Cyclically Adjusted Budget Balances: The Commission's Method; Appendix 2: Duration Models
Appendix 3: The Panel-Corrected Standard Errors TechniqueAppendix 4: The Effect of the Budget Process on Fiscal Policy; Appendix 5: The Economic Impact of Consolidations; Statistical Annex; Statistical Annex 1: Dependent and Independent Variables: Descriptive Statistics; Statistical Annex 2: Data on General Government Balances and Cyclical Corrections: Definitions and Tables; Notes and References; Bibliography; Index; A; B; C; D; E; F; G; H; I; J; K; L; M; N; O; P; Q; R; S; T; U; V; W; Y; Z

Contributor: Mulas Granados, Carlos [Author]

imprint: London: Palgrave Macmillan, 2006

Extent: Online-Ressource (XIV, 316 p, online resource)

Language: English

DOI: 10.1057/9780230501638

ISBN: 9780230501638

Identifier:

RVK notation: QM 000 : Allgemeines (reale und monetäre Aspekte)
QL 200 : Allgemeines
MK 5200 : Politische Sachgebiete der EU

Keywords: Europäische Union > Finanzpolitik > Öffentlicher Haushalt > Konsolidierung
Europäische Union > Finanzpolitik > Öffentlicher Haushalt > Konsolidierung

Origination:

Footnote: Description based upon print version of record

Description: Motivated by the proliferation of fiscal consolidation episodes in the advent of Monetary Union, this book explains the causes and consequences of fiscal policy in Europe, using theory and empirical evidence from the last four decades

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