Establishing a Fiscal Dialogue in Europe.

IF 1.5 Q2 ECONOMICS

Comparative Economic Studies Pub Date : 2021-01-01 Epub Date: 2021-03-15 DOI:10.1057/s41294-021-00144-5

Jérôme Creel

引用次数: 3

Abstract

In this contribution, I use the fiscal theory of the price level as a backdrop for a discussion on the risks that expansionary fiscal policies may pose on debt sustainability. I recall that a regime of fiscal dominance does not lead to macroeconomic instability. I also review a few empirical papers on fiscal sustainability and I conclude, also based upon own estimates, that it is not a major concern, at least in the short to mid-run. Finally, I argue that Europeans should continue on the fiscal impetus they contributed to in 2020 by fostering coordination and transparency on EU fiscal policies. To achieve this objective, I revisit the idea of an enhanced dialogue on fiscal matters at the European Parliament and propose to establish a Fiscal Dialogue with the EU Member States.

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在欧洲建立财政对话。

在这篇文章中，我使用价格水平的财政理论作为背景，讨论扩张性财政政策可能对债务可持续性构成的风险。我记得，财政主导的制度不会导致宏观经济不稳定。我还回顾了几篇关于财政可持续性的实证论文，同样基于我自己的估计，我得出的结论是，这不是一个主要问题，至少在短期到中期是这样。最后，我认为，欧洲人应该通过促进欧盟财政政策的协调和透明度，继续发挥他们在2020年所做出的财政推动作用。为了实现这一目标，我重新考虑在欧洲议会就财政问题加强对话的想法，并建议与欧盟成员国建立财政对话。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Comparative Economic Studies ECONOMICS-

CiteScore

2.30

自引率

12.50%

发文量

期刊介绍： Comparative Economic Studies is a journal of the Association for Comparative Economic Studies (ACES). It aims to publish papers that address several objectives: that provide original political economy analysis from a comparative perspective, that are an accessible source for state-of-the-art comparative economics thinking, that encourage cross-fertilization of ideas, that debate directions for future research in comparative economics, and that can provide materials and insights that are relevant for teaching, public policy debate and the media. Comparative Economic Studies welcome both submissions that are explicitly comparative and case studies of single countries or regions. The journal is interested in papers that investigate how economic systems respond to economic transitions, crises and to structural change, brought about by globalization, demographics, institutions, technology, politics, and the environment. While maintaining its position as an important outlet for work on Central Europe and the Former Soviet Union, the scope of Comparative Economic Studies encompasses other areas as well (European Union, Asia, Latin America, and Africa).