Bulletin n. 1/2008
May 2008
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
  • Giudice Gabriele, Turrini Alessandro, Veld Jan
    Non-Keynesian Fiscal Adjustments? A Close Look at Expansionary Fiscal Consolidations in the EU
    in Open Economies Review , Volume 18, Number 5 ,  2007 ,  613-630
    This paper analyses the characteristics of episodes of fiscal consolidation in the EU exhibiting non-Keynesian features, i.e., followed by an improved growth performance. Roughly half of the episodes of fiscal consolidations that have been undertaken in the EU in the last 30 years have been followed by higher growth. Probit regressions indicate that the consolidations that turned out to be expansionary were more likely started in periods with output below potential and based on expenditure cuts rather than on tax increases. These results appear quite robust with respect to the criteria used to identify the consolidation episodes and to classify such episodes as expansionary
    ©2001 - 2020 - Centro Studi sul Federalismo - P. IVA 94067130016