La política fiscal aplicada en la Unión Económica Monetaria (1999-2007)Un análisis desde la perspectiva de la recesión actual
- Arroyo Fernández, María Jesús
- Uxó González, Jorge
ISSN: 0213-3865
Année de publication: 2008
Titre de la publication: Perspectivas actuales de la política fiscal
Número: 69
Pages: 46-79
Type: Article
D'autres publications dans: Ekonomiaz: Revista vasca de economía
Résumé
The transfer of sovereignty in monetary policy and exchange rate associated with the creation of the Economic and Monetary Union (EMU) provides fiscal and budgetary policy with a more important role as a stabilization policy, and even more taking into account the current financial and economic crisis. The article makes an analysis of public finances within the EMU during the period 1999-2007. It examines the processes of consolidation of public accounts in Europe during the last years, the fiscal margin, with which the various governments have to face the crisis, the sign of this fiscal policy and its relation to the economic cycle, the implementation of the Stability and Growth Pact and the expected influence that the current crisis will have on European public finances in the coming years.