scholarly journals Tax Smoothing in the Presence of the Maastricht Constraint

2007 ◽  
Vol 25 (2) ◽  
pp. 129-150
Author(s):  
David Duffy
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Public Expenditure ◽  
Maastricht Treaty ◽  
Single Sample ◽  
Testing Methods ◽  
Data Set ◽  
Testing Procedures ◽  
Tax Smoothing ◽  
European Union Countries

Abstract A sample of European Union countries are examined for evidence of tax smoothing over the period 1970-2005. Two testing procedures are applied to a single sample of countries to assess the consistency of evidence across testing methods. This study includes the application of a new data set to the tax smoothing question which provides an estimate of the temporary component of public expenditure. This study also argues that the application of the constraints imposed on fiscal policy in the Maastricht Treaty will affect the conduct of a tax smoothing policy. The effects of the Maastricht Treaty on tax smoothing behaviour are investigated.

Principal components of innovation performance in European Union countries

2021 ◽  
Vol 66 (8) ◽  
pp. 24-45
Author(s):  
Agnieszka Kleszcz
Keyword(s):  
European Union ◽  
Principal Components ◽  
Alternative Assessment ◽  
Dimensional Space ◽  
Principal Component ◽  
Innovation Performance ◽  
Data Set ◽  
Eu Member States ◽  
Wide Range ◽  
European Union Countries

Innovation is one of the main determinants of economic development. Innovative activity is very complex, thus difficult to measure. The complexity of the phenomenon poses a great challenge for researchers to understand its determinants. The article focuses on the problem of innovation-related geographical disparities among European Union countries. Moreover, it analyses the principal components of innovation determined on the basis of the European Innovation Scoreboard (EIS) dimensions. The aim of the paper is to identify the principal components of the innovation index which differentiate countries by analysing the structure of the correlation between its components. All calculations were based on indicators included in the EIS 2020 Database, containing data from the years 2012–2019. A comparative analysis of the studied countries’ innovation performance was carried out, based on the principal component analysis (PCA) method, with the purpose of finding the uncorrelated principal components of innovation which differentiate the studied countries. The results were achieved by reducing a 10-dimensional data set to a 2-dimensional one, for a simpler interpretation. The first principal component (PC1) consisted of the human resources, attractive research systems, and finance and support dimensions (understood as academia and finance). The second principal component (PC2), involving the employment impacts and linkages dimensions, was interpreted as business-related. PC1 and PC2 jointly explained 68% of the observed variance, and similar results were obtained for the 27 detailed indicators outlined in the EIS. We can therefore assume that we have an accurate representation of the information contained in the EIS data, which allows for an alternative assessment and ranking of innovation performance. The proposed simplified index, described in a 2-dimensional space, based on PC1 and PC2, makes it possible to group countries in a new way, according to their level of innovation, which offers a wide range of application, e.g. PC1 captures geographic disparities in innovation corresponding to the division between the old and new EU member states.

scholarly journals A Comparative Analysis of Fiscal Policy Changes in Selected European Union Countries outside the Eurozone

2019 ◽  
Vol 22 (3) ◽  
pp. 131-143
Author(s):  
Agata Szymańska
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Comparative Analysis ◽  
Fiscal Policy ◽  
Eastern European ◽  
Policy Changes ◽  
The Czech Republic ◽  
Main Indicator ◽  
European Union Countries ◽  
Eastern European Countries

The aim of this article is to investigate the fiscal policy changes in six Central and Eastern European countries outside the Eurozone: Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Romania. The analysis covers the period from 2004 to 2017. The study uses changes in the cyclically‑adjusted primary balance as a main indicator to assess the fiscal policy stance. The results indicate that, in general, over the period from 2004 to 2017, the fiscal stance in these countries was somewhat contractionary.

scholarly journals Pro-Environmental Behaviour in the European Union Countries

Energies ◽  
2021 ◽  
Vol 14 (18) ◽  
pp. 5689
Author(s):  
Aneta Mikuła ◽  
Małgorzata Raczkowska ◽  
Monika Utzig
Keyword(s):  
European Union ◽  
Research Question ◽  
The European Union ◽  
Data Set ◽  
Environmental Behaviour ◽  
Main Research ◽  
Country Level ◽  
European Union Countries ◽  
Order Preference ◽  
Topsis Technique

The purpose of the presented research is to assess pro-environmental behaviour (PEB) in European Union countries in 2009 and 2019. The study used a synthetic measure developed using the TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) benchmark method. This method enables distinguishing classes and ranks of countries depending on the adopted characteristics. Basic measures of descriptive statistics, i.e., average, standard deviation and the coefficient of variation, were used in the analysis of the data set. The main research question addressed in this study concerns the relationship between the level of PEB and economic, demographic, and educational factors—not only on a micro scale but also from the macroeconomic perspective. The research has revealed a wide variety throughout the European Union (EU-27) countries in terms of pro-environmental behaviour. Sweden, Finland, and Denmark top the ranking, while Malta, Greece, Spain, and Romania are at the bottom of it. Northern European countries can therefore be identified as a group that represents a positive benchmark in terms of PEB across the European Union (EU-27). The correlation between PEB and selected economic, demographic, and education-related variables was also investigated. Country-level PEB is correlated with demographic and economic variables, but it is not correlated with education-related variables.

scholarly journals Fiscal Policy in European Union Countries in Time of the Economic Crisis – Attempt to Estimation

2015 ◽  
Vol 16 (1) ◽  
pp. 39-50
Author(s):  
Agnieszka Jachowicz
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Financial Markets ◽  
Financial Stability ◽  
The European Union ◽  
The Public ◽  
Eu Countries ◽  
The Third ◽  
European Union Countries ◽  
The Eu

AbstractIn this article, stability of fiscal policy and its impact on fiscal market have been analyzed. The issue appears especially important in times of the financial crisis which has affected all the European Union countries, although to a different extent. To achieve this, the author presented the aims, the tools and the aspects of financial stability to confront them with the situation that has occurred in the EU countries. To present the issue profoundly, the scientific research related to fiscal policy and its impact on financial markets were used in two opening units. In the third unit, the statistic data was cited to show the condition of the EU countries, the changes to it and the attempts aimed at improving the state of the public finance and therefore stabilizing financial markets.

scholarly journals How Much Would US Style Fiscal Integration Buffer European Unemployment and Income Shocks? (A Comparative Empirical Analysis)

2013 ◽  
Vol 103 (3) ◽  
pp. 125-128 ◽  
Author(s):  
James Feyrer ◽  
Bruce Sacerdote
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
State Level ◽  
Income Shocks ◽  
Tax System ◽  
Comparable Amount ◽  
Us States ◽  
European Union Countries ◽  
Income Shock ◽  
Cross Country

We examine the degree to which federal fiscal integration smoothes income and unemployment shocks across US States. We find that roughly 25 cents of every dollar of income shock at the state level is offset by federal fiscal policy. This stabilization comes entirely through the Federal tax system, not through spending stabilizers, automatic or otherwise. If we apply a comparable amount of cross country stabilization to European Union countries (as exists across US States), Greece and Spain would be receiving additional transfers of 2.5 percent of GDP.

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