Euro Area Fiscal Stance: Definition, Implementation and Democratic Legitimacy
Eingehende Analyse
11-07-2016
Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only in “exceptional” times, the usual bottom-up approach of fiscal policy remaining appropriate for “normal” times. In such setting, the European Fiscal Board would play a key role in advising the Commission on the existence of “exceptional” circumstances, on the adequate aggregate fiscal stance and on its desirable distribution across member states.
Eingehende Analyse
Externe Autor
Agnès Bénassy-Quéré
Über dieses Dokument
Art der Veröffentlichung
Politikbereich
Schlagwortliste
- Euro-Währungsgebiet
- EUROPÄISCHE UNION
- FINANZWESEN
- Geldwirtschaft
- Haushaltspolitik
- Inflation
- Koordinierung der WWU-Politiken
- Recht der Europäischen Union
- Staatshaushalt
- Subsidiaritätsprinzip
- WIRTSCHAFT
- Wirtschaftsanalyse
- Wirtschaftsanalyse
- wirtschaftspolitische Steuerung (EU)
- Wirtschaftssituation
- Währungsbeziehungen
- Öffentliche Finanzen und Haushaltspolitik
- öffentliche Schulden