Euro Area Fiscal Stance: Definition, Implementation and Democratic Legitimacy
Išsami analizė
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.
Išsami analizė
Išorės autorius
Agnès Bénassy-Quéré
Apie šį dokumentą
Publikacijos rūšis
Politikos sritis
Raktinis žodis
- biudžeto politika
- EKONOMIKA
- ekonomikos valdymas (ES)
- ekonominė analizė
- ekonominė analizė
- ekonominė padėtis
- EPS politikos koordinavimas
- euro zona
- EUROPOS SĄJUNGA
- Europos Sąjungos teisė
- FINANSAI
- infliacija
- piniginiai santykiai
- piniginė ekonomika
- subsidiarumo principas
- valstybės finansai ir biudžeto politika
- valstybės skola
- šalies biudžetas