Alternative Approaches to Fiscal Rules and Fiscal Stances in Europe

Conference object OPEN
Farina, Francesco (2008)
  • Subject: Fiscal stance | Debt consolidation | SECS-P/02 | E52 | H60

From Maastricht on, how did fiscal authorities (FAs) deal with the two objectives of output stabilization and debt consolidation? To answer this question, we need a measure of the fiscal stance, in order to single out discretionary fiscal policy. Fiscal stance = variation of the primary budget (fiscal impulse), to accomplish the target for total budget.
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