EU fiscal governance and budget consolidation in Visegrád countries
https://doi.org/10.24833/2071-8160-2019-3-66-131-158
Abstract
About the Authors
Zh. N. KomissarovaRussian Federation
PhD in Economics, Associate Professor at the World Economy Department
E. A. Sergeev
Russian Federation
Lecturer at the World Economy Department
References
1. Abel A., Bernanke B. Makroekonomika [Macroeconomics]. Saint-Petersburg, Piter, 2010. 768 p. (In Russian)
2. Baranov A.O. Kejnsianskij i liberal'nyj vzglyad na rol' gosudarstva v ekonomike: istoriya voprosa i diskussiya v Rossii [Keynesian and Liberal View on State’s Role in the Economy: a History of a Problem]. Vestnik NGU. Seriya: Social'no-ekonomicheskie nauki, 2003, vol. 3, no. 2, pp. 5-23. (In Russian)
3. Kołodko G., Postula M. Faktory i posledstviya rasshireniya evrozony [Determinants and implications of the Eurozone enlargement]. Voprosy Ekonomiki – Economic Problems, 2018, no. 7, pp. 1-20. (In Russian) DOI: 10.32609/0042-8736-2018-7-45-64
4. Komissarova Zh.N., Sergeev E.A. Procedura chrezmernogo deficita byudzheta v stranah Vishegradskoj gruppy [Excessive Deficit Procedure in Visegrád Countries]. Vestnik RUDN. Seriya: ekonomika – RUDN Journal of Economics, 2018, vol. 26, no. 2, pp. 246-257. (In Russian) DOI: 10.22363/2313-2329-2018-26-2-246-257
5. Publichnye finansy i nalogovoe pravo: ezhegodnik. Vyp. 4: Dohody byudzhetov v stranah Central'noj i Vostochnoj Evropy [Public Finance and Tax Law: a Yearbook. Issue 4: Budget Revenues in Central and Eastern European Countries]. Ed. by Karasyova (Sencova) M.V. Voronezh, VGU Publ., 2014. 370 p. (In Russian)
6. Sergeev E.A. Dinamika osnovnyh pokazatelej fiskal'nyh sistem stran Vishegradskoj gruppy v postkrizisnyj period [Fiscal Systems of Visegrád Countriesin a Post-Crisis Period: Statistical Trends]. Rossiya i Central'naya Evropa v novyh geopoliticheskih real'nostyah. Sb. st. uchastnikov XII mezhdunar. nauch. konferencii [Russia and Central Europe in New European Relaities. Proceedings of the XII International Scientific Conference]. Ed. by Shishelina L.N. Moscow, RAS Institute of Europe, 2018. Pp. 166-177. (In Russian)
7. Sergeev E.A. Fiskal'noe regulirovanie v integracionnyh ob"edineniyah: obshchaya harakteristika [Fiscal Governance in Regional Groupings; General Features]. Mirovoe i nacional'noe hozyajstvo – World and National Economy, 2017, no. 1. (In Russian)
8. Central'naya i Vostochnaya Evropa: posledstviya dolgovogo krizisa v evrozone [Central and Eatern Europe: Implications of Debt crisis in the Euro Area]. Ed. by N.V. Kulikova. Moscow, RAS Institute of Economics, 2014. 300 p. (In Russian)
9. Afonso A., Sousa R. The Macroeconomic Effects of Fiscal Policy. ECB Working Paper, 2009, no. 991, 53 p.
10. Alesina A. Introduction. in Fiscal Policy after the Financial Crisis. Ed. by Alesina A., Giavazzi F. Chicago: University of Chicago Press, 2013. pp. 1-18.
11. Alesina A., Ardagna S. Tales of Fiscal Adjustment, Economic Policy, 1998, no. 13(27), pp. 489-585.
12. Alesina A., Ardagna S. The Design of Fiscal Adjustments. Tax Policy and the Economy, 2013, vol. 27, pp. 19-68.
13. Ardagna S. Fiscal Stabilizations: When Do They Work and Why, European Economic Review, 2004, vol. 48, no. 5, pp. 1047-1074.
14. Barro R. Are Government Bonds Net Wealth? Journal of Political Economy, 1974, vol. 82, no. 6, pp. 1095-1117.
15. Combes J.-L., Minea A., Mustea L., Yogo T. Output Effects of Fiscal Stimulus in Central and Eastern European Countries. Post-Communist Economies, 2016, vol. 28, no. 1, pp. 108-127.
16. Delong J., Summers L. Fiscal Policy on a Depressed Economy. Brookings Papers on Economic Activity, Spring 2012, pp. 233-297.
17. Devries P., Guajardo J., Leigh D., Pescatori A. A New Action-Based Dataset of Fiscal Consolidation. IMF Working Paper, 2011, no. 11/128. International Monetary Fund, Washington, DC. 90 p.
18. Fatás A., Summers L. The Permanent Effects of Fiscal Consolidations. Journal of International Economics, 2018, vol. 112, no. C, pp. 238-250. DOI: 10.3386/w22374
19. von Hagen J., Wolff G. What Do Deficits Tell Us About Debt? Empirical Evidence on Creative Accounting with Fiscal Rules in the EU. Deutsche Bundesbank Discussion Paper. Series 1: Studies of the Economic Research Centre, 2004, no. 38. 30 p.
20. Hall R. By How Much Does GDP Rise if the Government Buys More Output. NBER Working Paper, 2009, no. 15496. 49 p.
21. Heimberger P. Did Fiscal Consolidation Cause the Double-Dip Recession in the Euro Area? Wiener Institut für Internationale Wirtschaſtsvergleiche Working Paper, 2016, no. 130. 22 p.
22. Hölscher J., Postula M., Alińska A., Klepacki J. The Impact of Fiscal Rules on Sustainable Development of the Visegrad Group Countries. BAFES – Bournemouth Accounting, Finance & Economic Series, 2018, no. 17. 29 p.
23. Kameník M., Ruščáková A., Semančíková J. Fiscal Multipliers and Macroeconomic Performance in the Case of Slovakia and Hungary. International Journal of Computational Economics and Econometrics, 2018, vol. 8, no. 1, pp. 79-94.
24. Kraay A. Government Spending Multipliers in Developing Countries. Evidence from Lending by Official Creditors. AEJ: Macroeconomics, 2014, no. 6, pp. 170-208.
25. Kumar M., Leigh D., Plekhanov A. Fiscal Adjustments: Determinants and Macroeconomic Consequences. IMF Working Paper, 2007, no. 07/178, 38 p.
26. Lentner C. Excerpts of New Hungarian State Finances from Legal, Economic and International Aspects. Pravni Vjesnik, 2018, vol. 34. No. 2, pp. 9-25. DOI: 10.25234/pv/5996
27. Mirdala R., Kaminík M. Effects of Fiscal Policy Shocks in CE3 Countries (TVAR Approach). Economics and Management, 2017, vol. 20, no. 2, pp. 46-64.
28. Molnár M. Fiscal Consolidation: What Factors Determine the Success of Consolidation Efforts? OECD Journal: Economic Studies, 2012, no. 1, pp. 123-149.
29. Nickel Ch., Tudyka A. Fiscal Stimulus in Times of High Debt. Reconsidering Multipliers and Twin Deficits. ECB Workin Paper, 2013, no. 1513, 39 p.
30. Rzoncá A., Ciżkowicz P. Non-Keynesian Effects of Fiscal Contraction in New Member States. European Central Bank Working Paper Series, 2005, no. 519, 34 p.
31. Stockhammer E., Qazizada W., Gechert S. Demand Effects of Fiscal Policy since 2008. Post Keynesian Economic Study Group Working Paper, 2016, no. 1607, 26 p.
32. Taxation Trends in the European Union. Data for the EU Member States, Iceland and Norway, 2012 edition. European Commission. Luxembourg, Publications Office of the European Union, 2012. 269 p.
33. The First Two Years of the Self-financing Programme. Ed. by M. Hoffmann, P.P. Kolozsi. Budapest, Magyar Nemzeti Bank, 2016. 121 p.
Review
For citations:
Komissarova Zh.N., Sergeev E.A. EU fiscal governance and budget consolidation in Visegrád countries. MGIMO Review of International Relations. 2019;(3(66)):131-158. (In Russ.) https://doi.org/10.24833/2071-8160-2019-3-66-131-158