scholarly journals Fiscal Policy and Fiscal Rules in the European Union

2005 ◽  
Author(s):  
Vito Tanzi
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Fiscal Rules ◽  
The European Union

EUROPEAN FISCAL RULES AS A LIABILITY IN THE TRANSATLANTIC TRADE CONFLICT: LESSONS FROM NiGEM SIMULATIONS

2020 ◽  
Vol 254 ◽  
pp. R54-R66 ◽  
Author(s):  
Sebastian Dullien ◽  
Sabine Stephan ◽  
Thomas Theobald
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Fiscal Policy ◽  
Fiscal Rules ◽  
The European Union ◽  
Negative Effects ◽  
Transatlantic Trade ◽  
The Us ◽  
Trump Administration

Under the Trump administration, a transatlantic trade conflict has been escalating step by step. First, it was about tariffs on steel and aluminium, then about retaliation for the French digital tax, which is suspended until the end of the year. Most recently, the US administration threatened the European Union with tariffs on cars and car parts because of Canadian seafood being subject to lower import duties. As simulations with NiGEM show, a further escalation of the transatlantic trade conflict has the potential to slow down economic growth significantly in the countries involved. This is a considerable risk given the fact that the countries have to cope with the enormous negative effects of the pandemic shock. Furthermore, the damage caused by the trade conflict depends on the extent to which the affected countries use fiscal policy to stabilise their economies.

scholarly journals Impact of fiscal institutions on public finances in the European Union: Review of evidence in the empirical literature

2021 ◽  
Vol 21 (2) ◽  
pp. 215-232
Author(s):  
Martin Gorčák ◽  
Stanislav Šaroch
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Policy Making ◽  
Fiscal Rules ◽  
Empirical Literature ◽  
The European Union ◽  
Fiscal Institutions ◽  
Public Finances ◽  
The Eu ◽  
Fiscal Outcomes

Abstract This paper examines the impact of budgetary institutions on public finances in the European Union on the basis of a critical survey of the relevant theoretical and empirical literature. In general, the authors find that fiscal institutions (namely fiscal rules) have successfully contributed to greater fiscal sustainability, reduced procyclicality of fiscal policies within the EU, and increased national ownership of fiscal rules by strengthening national fiscal frameworks. A fiscal reaction function was one of the widely used methods to determine the principal variables affecting fiscal outcomes. Some authors used cyclically-adjusted fiscal outcomes as the dependent variable representing the discretionary fiscal policy-making whereas others put emphasis on other fiscal outcomes. The samples of countries covered mostly the EU Member States, representing rather homogenous samples in the context of common EU fiscal framework. Institutional aspects used as independent variables differed significantly among authors and some could be added for future research. Based on the literature survey, several recommendations were made for fiscal policy-making.

Modeling Fiscal Policy in the European Union

2015 ◽  
Author(s):  
Janusz Kudla ◽  
Konrad Walczyk ◽  
Robert Kruszewski
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
The European Union

scholarly journals National fiscal rules and fiscal discipline in the European Union

2021 ◽  
Vol 53 (20) ◽  
pp. 2337-2359
Author(s):  
Amélie Barbier-Gauchard ◽  
Kea Baret ◽  
Alexandru Minea
Keyword(s):  
European Union ◽  
Fiscal Rules ◽  
The European Union ◽  
Fiscal Discipline

Macroeconomic effects of fiscal policy in the European Union: a GVAR model

2014 ◽  
Vol 48 (4) ◽  
pp. 1587-1617 ◽  
Author(s):  
Alejandro Ricci-Risquete ◽  
Julián Ramajo-Hernández
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
The European Union ◽  
Macroeconomic Effects

Fiscal Policy and the Democratic Process in the European Union

2002 ◽  
Vol 3 (2) ◽  
pp. 205-230 ◽  
Author(s):  
William Roberts Clark ◽  
Matt Golder ◽  
Sona Nadenichek Golder
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Democratic Process ◽  
The European Union

scholarly journals Decentralization and Tax Federalism: Ways to Develop Local Self-Governance

2020 ◽  
pp. 36-46
Author(s):  
Arman DUSENBINOV
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Local Community ◽  
Current Model ◽  
The European Union ◽  
Self Sufficiency ◽  
Fourth Level ◽  
Local Government Level ◽  
The Republic ◽  
Government Level

This article discusses the features of implementing tax federalism in a unitary state. The article analyzes the implementation of the fourth level of the budget in the Republic of Kazakhstan, as well as the experience of tax independence of municipalities in the European Union. The article analyzes the weaknesses of the current model of financing local self-government in the Republic of Kazakhstan and the state of self-government in General. It is assumed that the system used for financing the local community does not fully use the economic and investment potential of the territories. It is proposed to introduce elements of an independent fiscal policy at the local government level in the Republic of Kazakhstan to increase the investment attractiveness and self-sufficiency of the fourth-level budgets.

scholarly journals THE INFLUENCE OF THE INTEGRATION IN THE EUROPEAN UNION ON THE ROMANIAN FISCAL LEGISLATION

2008 ◽  
pp. 56
Author(s):  
Mircea Muntean ◽  
Doina Pacurari
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Negative Impact ◽  
Value Added ◽  
The European Union ◽  
European Directives ◽  
Eu Directives ◽  
Dividend Tax ◽  
Excise Duties ◽  
The Eu

Fiscal policy constitutes – within the state's economic policy – a system by means of which the taxes and duties owed to the country's consolidated budget are established and collected. Taking into account the role fiscal policy has been playing since Romania's admission in the European Union, one of the goals ceaselessly looked for is its adapting to the international community's acquis through the implementation of the European directives in our context. The EU directives make reference to direct taxes: dividend tax, interest income tax, assets transfer, shares exchange, income taxation for the non-residents, and so on, along with the indirect taxes: value-added tax, excise duties, etc. The paper approaches the main provisions within the contents of the European directives as well as the means of their implementation in the Romanian fiscal legislation regarding various types of taxes. The implementation of the European directives has been simultaneous with the establishing of measures concerning fiscal fraud prevention, frauds liable to have a negative impact on the state's consolidated budget.

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