Matches in SemOpenAlex for { <https://semopenalex.org/work/W3121405087> ?p ?o ?g. }
Showing items 1 to 96 of
96
with 100 items per page.
- W3121405087 abstract "Summary for non-specialistsThe global financial crisis has led to a sharp deterioration of EU countries' public finances. Views are split regarding the most appropriate consolidation strategy to follow, in particular considering: the timing of fiscal consolidation in relation to the path of economic recovery reflecting (a) the trade-off between consolidation and stabilisation; (b) fiscal consolidation in the context of a distressed banking system where the credit channel is hampered and without which economic recovery can hardly take place, (c) the absence of exchange rate adjustment in the euro area which could make it more difficult for countries with competitiveness problems to achieve successful fiscal consolidation. The existing literature on fiscal consolidations provides only partial evidence on these issues.In this paper our objective is to focus on the above points of discussion drawing on EU (and non-EU OECD) experiences during the period 1970-2008. We estimate econometrically the determinants of successful fiscal consolidations and show that: (i) in presence of a systemic financial crisis, the repair of the banking sector is a pre-condition for a fiscal consolidation to succeed in reducing debt levels (ii) even after the banking sector is repaired, fiscal consolidations are usually less successful than in absence of financial crises, although more vigorous fiscal consolidations (i.e. cold shower) tend to yield higher results (iii) current debt dynamics in the EU are very unfavourable and in some cases, coupled with rising debt servicing costs and much deteriorated growth outlook warranting differentiated consolidation strategies across EU countries (iv) We do not find conclusive evidence in support of exchange rates (including real exchange rate) depreciation/devaluation as enhancing the success of fiscal consolidation as their effect appear to be low and insignificant." @default.
- W3121405087 created "2021-02-01" @default.
- W3121405087 creator A5046639378 @default.
- W3121405087 creator A5063215353 @default.
- W3121405087 creator A5067942183 @default.
- W3121405087 date "2011-03-25" @default.
- W3121405087 modified "2023-09-27" @default.
- W3121405087 title "EU Fiscal Consolidation After the Financial Crisis: Lessons From Past Experiences" @default.
- W3121405087 cites W1483639066 @default.
- W3121405087 cites W1544937007 @default.
- W3121405087 cites W2001808897 @default.
- W3121405087 cites W2033146315 @default.
- W3121405087 cites W2042963370 @default.
- W3121405087 cites W2108940905 @default.
- W3121405087 cites W2131745035 @default.
- W3121405087 cites W2139122730 @default.
- W3121405087 cites W2172120792 @default.
- W3121405087 cites W3121324475 @default.
- W3121405087 cites W3122643932 @default.
- W3121405087 cites W3122753379 @default.
- W3121405087 cites W3123550433 @default.
- W3121405087 cites W3124178534 @default.
- W3121405087 cites W3124656602 @default.
- W3121405087 cites W3124674560 @default.
- W3121405087 cites W3124834066 @default.
- W3121405087 cites W3125692173 @default.
- W3121405087 cites W3125826323 @default.
- W3121405087 hasPublicationYear "2011" @default.
- W3121405087 type Work @default.
- W3121405087 sameAs 3121405087 @default.
- W3121405087 citedByCount "10" @default.
- W3121405087 countsByYear W31214050872012 @default.
- W3121405087 countsByYear W31214050872013 @default.
- W3121405087 countsByYear W31214050872014 @default.
- W3121405087 countsByYear W31214050872015 @default.
- W3121405087 crossrefType "book" @default.
- W3121405087 hasAuthorship W3121405087A5046639378 @default.
- W3121405087 hasAuthorship W3121405087A5063215353 @default.
- W3121405087 hasAuthorship W3121405087A5067942183 @default.
- W3121405087 hasConcept C10138342 @default.
- W3121405087 hasConcept C105639569 @default.
- W3121405087 hasConcept C114708693 @default.
- W3121405087 hasConcept C120527767 @default.
- W3121405087 hasConcept C139719470 @default.
- W3121405087 hasConcept C144133560 @default.
- W3121405087 hasConcept C162324750 @default.
- W3121405087 hasConcept C18547055 @default.
- W3121405087 hasConcept C2776014549 @default.
- W3121405087 hasConcept C2776886223 @default.
- W3121405087 hasConcept C2777461252 @default.
- W3121405087 hasConcept C2778300220 @default.
- W3121405087 hasConcept C524878704 @default.
- W3121405087 hasConcept C556758197 @default.
- W3121405087 hasConcept C73283319 @default.
- W3121405087 hasConceptScore W3121405087C10138342 @default.
- W3121405087 hasConceptScore W3121405087C105639569 @default.
- W3121405087 hasConceptScore W3121405087C114708693 @default.
- W3121405087 hasConceptScore W3121405087C120527767 @default.
- W3121405087 hasConceptScore W3121405087C139719470 @default.
- W3121405087 hasConceptScore W3121405087C144133560 @default.
- W3121405087 hasConceptScore W3121405087C162324750 @default.
- W3121405087 hasConceptScore W3121405087C18547055 @default.
- W3121405087 hasConceptScore W3121405087C2776014549 @default.
- W3121405087 hasConceptScore W3121405087C2776886223 @default.
- W3121405087 hasConceptScore W3121405087C2777461252 @default.
- W3121405087 hasConceptScore W3121405087C2778300220 @default.
- W3121405087 hasConceptScore W3121405087C524878704 @default.
- W3121405087 hasConceptScore W3121405087C556758197 @default.
- W3121405087 hasConceptScore W3121405087C73283319 @default.
- W3121405087 hasLocation W31214050871 @default.
- W3121405087 hasOpenAccess W3121405087 @default.
- W3121405087 hasPrimaryLocation W31214050871 @default.
- W3121405087 hasRelatedWork W1491165004 @default.
- W3121405087 hasRelatedWork W1496866150 @default.
- W3121405087 hasRelatedWork W1530719017 @default.
- W3121405087 hasRelatedWork W1533943086 @default.
- W3121405087 hasRelatedWork W1570084497 @default.
- W3121405087 hasRelatedWork W1608194117 @default.
- W3121405087 hasRelatedWork W1975364076 @default.
- W3121405087 hasRelatedWork W2009494147 @default.
- W3121405087 hasRelatedWork W2071270121 @default.
- W3121405087 hasRelatedWork W2157119867 @default.
- W3121405087 hasRelatedWork W2262692983 @default.
- W3121405087 hasRelatedWork W2893326991 @default.
- W3121405087 hasRelatedWork W2900501287 @default.
- W3121405087 hasRelatedWork W2939492721 @default.
- W3121405087 hasRelatedWork W2953656630 @default.
- W3121405087 hasRelatedWork W3121760620 @default.
- W3121405087 hasRelatedWork W3124333147 @default.
- W3121405087 hasRelatedWork W3124766831 @default.
- W3121405087 hasRelatedWork W3125745682 @default.
- W3121405087 hasRelatedWork W574334425 @default.
- W3121405087 isParatext "false" @default.
- W3121405087 isRetracted "false" @default.
- W3121405087 magId "3121405087" @default.
- W3121405087 workType "book" @default.