Fiscal Policy in the Southern European Union Countries

Beschreibung

This book examines public debt hoarding within the Euro Area, which is one of the most complicated challenges regarding modern fiscal policy-making. The author offers an up-to-date analysis of the fiscal situations of Italy, Spain, Portugal, and Greece. The book describes key mechanisms of debt transmission, discusses the potential establishment of fiscal and debt union in the EU, identifies numerous implications, and connects the fiscal positions of the examined countries with the structural flaws of the Euro Area and the monetary policy of the European Central Bank. Moreover, the work presents an estimation of structural budget balances, including a comparison with the estimates of major international institutions such as the IMF, OECD, and European Commission. A separate chapter is devoted to analysing the fiscal policy determinants, using time series since the late 19th century, and the issue of fiscal policy efficiency. Finally, the work provides an overview of debt resolution options. Overall, this book offers eight core chapters intended for the public, professional economists, and policymakers.

This book examines public debt hoarding within the Euro Area, which is one of the most complicated challenges regarding modern fiscal policy-making. The author offers an up-to-date analysis of the fiscal situations of Italy, Spain, Portugal, and Greece. The book describes key mechanisms of debt transmission, discusses the potential establishment of fiscal and debt union in the EU, identifies numerous implications, and connects the fiscal positions of the examined countries with the structural flaws of the Euro Area and the monetary policy of the European Central Bank. Moreover, the work presents an estimation of structural budget balances, including a comparison with the estimates of major international institutions such as the IMF, OECD, and European Commission. A separate chapter is devoted to analysing the fiscal policy determinants, using time series since the late 19th century, and the issue of fiscal policy efficiency. Finally, the work provides an overview of debt resolutionoptions. Overall, this book offers eight core chapters intended for the public, professional economists, and policymakers.

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Milan Bednář

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Fiscal Policy Sovereign Debt COVID-19 Government Debt Euro Area European Debt EU4 Economics Fiscal Policies

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The monograph provides an insightful and comprehensive analysis of the fiscal situations of some of the most indebted countries in the world. The author uses a rigorous analytical framework and a wealth of data to offer a detailed and comprehensive analysis of the fiscal situations of the EU4 countries. The book's comprehensive analysis, rigorous methodology, and policy recommendations make it an essential reading for anyone interested in understanding the fiscal challenges facing the EU4 countries and the possible policy measures that can be taken to address them.prof. Ing. Erika Pastoráková, Ph.D., Dean of the Faculty of National Economy, University of Economics in Bratislava (Slovakia)

The monograph contains valuable new insights regarding both qualitative and quantitative analyses. For instance, I appreciate the estimations of structural budget balances, fiscal multipliers, fiscal determinants, and fiscal projections, including sensitivity analyses. This book is addressed primarily to researchers and policymakers. However, its value added will contribute to a broader audience, including doctoral students or public officers involved in the area of public finance.
doc. Ing. Eva Zamrazilová, CSc., Deputy Governor of the Czech National Bank (Czech Republic)

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