Ricardian Fiscal Regimes in the European Union
46 Pages Posted: 5 Dec 2005
There are 2 versions of this paper
Ricardian Fiscal Regimes in the European Union
Ricardian Fiscal Regimes in the European Union
Date Written: November 2005
Abstract
The prevalence of either Ricardian or non-Ricardian fiscal regimes is important both for practical policy reasons and to assess fiscal sustainability, and this is of particular relevance for European Union countries. The purpose of this paper is to assess, with a panel data set, the empirical evidence concerning the existence of Ricardian fiscal regimes in EU-15 countries. The results give support to the Ricardian fiscal regime hypothesis throughout the sample period, and for sub-samples accounting for the dates of the Maastricht Treaty and for the setting-up of the Stability and Growth Pact. Additionally, electoral budget cycles also seem to play a role in fiscal behaviour.
Keywords: fiscal regimes, European Union, panel data models
JEL Classification: C23, E62, H62
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
By António Afonso and Priscilla Toffano
-
By António Afonso and Priscilla Toffano
-
By António Afonso and Priscilla Toffano
-
What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
By Christophe Rault and Antonio Afonso
-
What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic
By António Afonso and Christophe Rault
-
What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
By António Afonso and Christophe Rault
-
Fiscal Sustainability in the EU: A Panel Data Diagnostic
By António Afonso and Christophe Rault
-
Fiscal Policy Responsiveness, Persistence and Discretion
By António Afonso, Luca Agnello, ...
-
Perceptions and Misperceptions of Fiscal Inflation
By Todd B. Walker and Eric M. Leeper