Theoretical and Applied Economics
No. 2 / 2008 (519)
Fiscal Policy Stance in the Euro Area
Marius-Corneliu Marinas
Academia de Studii Economice, Bucuresti
Academia de Studii Economice, Bucuresti
Abstract. The budgetary position in the euro area and the EU improved significantly in 2007 compared to the previous year. The headline deficit declined to 1.6 % of GDP in 2006 and 1.1 % of GDP in 2007, down from 2.5% of GDP in 2005. The structural budget deficit diminished from 2% of GDP in 2005 to 0.8% in 2007, reflecting a restrictive fiscal policy in euro area. The fiscal policy became pro-cyclically because the economy of euro area is characterized by a slightly negative output-gap (estimated at 0.2% of potential GDP in 2007).
Keywords: euro area; Growth and Stability Pact; output-gap; structural budgetary balance; budgetary elasticity.
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Contents
Marin Dinu
- The Processual Programming Essentials – Criticism and New Options
Ion Gh. Rosca
George Moldoveanu
Octavian Thor Pleter
Cosmin Dobrin
- “Globalisation of Corruption” and Development
of the Binom “Corruption – Public Integrity” in the Context of Romania Integration into the European Union
Lucica Matei
Ani Matei
- Fiscal Policy Stance in the Euro Area
Marius-Corneliu Marinas
- Determining the Efficiency Frontier
Leonardo Badea
- Considerations Regarding the Conflict Management
Aurel Manolescu
Alecxandrina Deaconu
- Typological Analysis of Buying Actions
Nicolae Teodorescu
Nicolae Al. Pop
Felicia-Aurelia Stancioiu
- The Competitiveness of Romanian Services Exports
Corina Grigorovici
- What is the Knowledge Society?
Marin Dinu
