Theoretical and Applied Economics
No. 2 / 2022 (631), Summer
Fiscal consolidation and public debt in the European Union: Reevaluating the relationship
Bucharest University of Economic Studies, Romania
Alexandru VLADOI
Bucharest University of Economic Studies, Romania
Abstract. The initial shock from and response to the Global Financial Crisis (GFC) in 2008 had a profound impact on the fiscal balances and subsequently the government debt ratios of countries in the European Union (EU). This paper examines the relationship fiscal consolidation measures and the changes in debt ratios that followed. The findings highlight that the negative feedback of fiscal consolidation on economic growth in this context can translate into increases, rather than decreases in government debt ratios. As debt levels in most European Union countries are reaching record levels in the aftermath of Covid-19, these results warn of the risks of a stunted recovery if a similar approach as in the aftermath of the GFC is pursued.
Keywords: fiscal policy, public debt, expansionary austerity.
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Contents
- International banking, crises and strategic interests
Dan Costin NIȚESCU
Cristian ANGHEL
- The importance of demand, uncertainty and monetary policy shocks from the euro area for the Romanian economy
George ANTON
- Fiscal consolidation and public debt
in the European Union: Reevaluating the relationship
Lara Greta MERLING
Alexandru VLADOI
- Measuring the impact of philanthropy on small businesses:
A case study of small business in Israel
Ani MATEI
Menachem ZILBERKLANG
- Poverty in Romania: an analysis at regional level
Maria-Daniela TUDORACHE
- Casual nexus between economic growth,
FDI and employment: An inquiry into BRICS and ASEAN
Mohd IRSHAD
Syed Hasan QAYED
- A comparative analysis of export-led
and domestic demand-led growth hypotheses
in BRICS economies
Neha JAIN
- Reinsurance – an efficient solution
of catastrophe risk transfer
for the housing stock of Romania
Nicoleta RADU
- Normative analysis of the impact of Covid-19
on prominent sectors of Indian economy
by using ARCH Model
G.K. CHETAN KUMAR
K.B. RANGAPPA
S. SUCHITRA
- Assessing the performance of mutual funds
Constantin ANGHELACHE
Mădălina-Gabriela ANGHEL
Ștefan Virgil IACOB
Iulian RADU
- Model for estimating the profitability
of placing asset portfolios on the capital market
Constantin ANGHELACHE
Mădălina-Gabriela ANGHEL
Ștefan Virgil IACOB
Dana Luiza GRIGORESCU
