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Government budgets in the EU countries: Consolidation takes time

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Economic Bulletin

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Literatur

  1. Cf. Willi Leibfritz, Deborah Roseveare and Paul van den Noord, Fiscal policy, Government debt and economic performance, in:OECD Working Papers, no. 33, Paris 1994.

  2. Cf. Willi Leibfritz, Deborah Roseveare, Douglas Fore and Eckard Wurzel, Ageing populations, pension schemes and government budgets: How do they affect saving?, in:OECD, Economics Department Working Papers, no. 156, Paris 1995.

  3. These assets include bank deposits and accounts receivable resulting from loans to the private sector, equity holdings in private firms, the value of capital stock of publicly owned companies and — depending on the institutional setting in each country — gold and foreign currency reserves. Cf.OECD Economic Outlook 58, 1996, p. A76.

  4. Cf.OECD Economic Surveys, Italy 1994, p. 110.

  5. Cf. European Commission (ed.), Towards greater fiscal discipline, in:European Economy 3/1994, Luxembourg 1995, p. 11 ff.

  6. Measurement of structural deficits is based on varying concepts the applicability of which remains a matter of controversy. Depending on the method used, widely divergent results are obtained for a given country, so that such figures must be interpreted with great caution. Cf. Ray Barrell, James Sefton and Jan in't Veld, Cyclically adjusted government deficits, NIESR, London 1994 (manuscript); Western industrialised countries. Business cycle at the crossroads; in:Economic Bulletin, vol. 33, no. 1, January 1996; OECDEconomic Outlook 59, June 1996.

  7. Cf. Warwick J. McKibbin, The effects of fiscal consolidation in the OECD. The World Bank International Economics Department,Policy Research Working Paper 1354, Washington 1994.

  8. Cf. Willi Leibfritz, Deborah Roseveare and Paul van den Noord, op. cit. p. 21f.

  9. Cf. William Buiter, Giancarlo Corsetti and Nouriel Roubini, Excessive deficits: sense and nonsense in the Treaty of Maastricht,Economic Policy, 16,1993, pp. 58-100.

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  1. Bernhard Seidel
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Seidel, B. Government budgets in the EU countries: Consolidation takes time. Economic Bulletin 33, 35–44 (1996). https://doi.org/10.1007/BF02233585

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  • DOI: https://doi.org/10.1007/BF02233585

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