EMPIRICAL ANALYSIS OF CYCLICAL CHARACTERISTICS OF FISCAL POLICY IN MEMBER COUNTRIES OF EUROPEAN ECONOMIC AND MONETARY UNION

被引：0

作者：

Obradovic, Sasa ^{[1
]}

Lukovic, Stevan ^{[1
]}

机构：

[1] Univ Kragujevac, Fac Econ, Kragujevac 34000, Serbia

来源：

ACTUAL PROBLEMS OF ECONOMICS | 2012年 / 133期

关键词：

European economic and monetary union; countercyclical fiscal policy; automatic stabilizers; discretionary measures;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper explores the fiscal policy in member countries of European Economic and Monetary Union (EMU). The purpose is to determine procyclical or countercyclical elements in EMU members fiscal policy. In order to do so, we determine correlations between certain taxes and public expenditures, on one hand, and GDP, on the other hand. The existence of strong positive (negative) correlations suggests greater countercyclical effect of taxes (expenditures) that can be explained by automatic stabilizers functioning or countercyclical discretionary measures.

引用

页码：440 / 450

页数：11

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