Sustainability of Belgian Public Finance: Challenges and Vulnerabilities

Katholeike Universiteit Leuven Discussion Paper No. 24

16 Pages Posted: 6 Aug 2012

See all articles by Bas Van Aarle

Bas Van Aarle

Leuven Centre for Irish Studies LCIS; CESifo (Center for Economic Studies and Ifo Institute); Radboud University Nijmegen - Department of Economics

Jozef Konings

Catholic University of Leuven (KUL) - LICOS - Centrum voor Transitie-economie; Centre for Economic Policy Research (CEPR); IZA Institute of Labor Economics

Date Written: 2011

Abstract

This paper analyses Belgian fiscal sustainability using both a retrospective and a prospective view. In the retrospective part, empirical tests on Belgian government solvency during the period 1980-2010 are carried out. In the prospective part a scenario analysis of budgetary adjustment in the short and medium run under alternative hypotheses is undertaken.

Keywords: Belgium, euro area, fiscal policy, policy rules, fiscal sustainability

JEL Classification: F31, F41, G15

Suggested Citation

van Aarle, Bas and Konings, Jozef, Sustainability of Belgian Public Finance: Challenges and Vulnerabilities (2011). Katholeike Universiteit Leuven Discussion Paper No. 24, Available at SSRN: https://ssrn.com/abstract=2125085 or http://dx.doi.org/10.2139/ssrn.2125085

Bas Van Aarle (Contact Author)

Leuven Centre for Irish Studies LCIS ( email )

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CESifo (Center for Economic Studies and Ifo Institute)

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Radboud University Nijmegen - Department of Economics ( email )

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Jozef Konings

Catholic University of Leuven (KUL) - LICOS - Centrum voor Transitie-economie ( email )

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Leuven, 3000
Belgium
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Centre for Economic Policy Research (CEPR)

London
United Kingdom

IZA Institute of Labor Economics

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Bonn, D-53072
Germany

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