Bańkowski,Krzysztof, Ferdinandusse, Marien, (2017), “Euro area fiscal stance”, ECB Occasional Paper Series No 182, January
This paper analyses the appropriateness of the euro area fiscal stance. In this context, the paper presents the relevant definitions and how the euro area fiscal stance has evolved over time. Furthermore, it contains an evaluation of the appropriateness of the euro area aggregated fiscal stance set out in the European Commission’s Spring 2016 European Economic Forecast, concluding that, while it is broadly appropriate from the stabilisation perspective, it deviates slightly from the sustainability objective. Finally, the paper investigates the impact of a fiscal stimulus in Germany on the main euro area macroeconomic variables under an adverse risk scenario.
Relevant Posts
- Thirion, Gilles, (2017), “European Fiscal Union: Economic rationale and design challenges”, CEPS, No. 2017-01, January 2017
- Eyraud, Luc, Poghosyan, Tigran, Gaspar, Vitor, (2017), “Fiscal Politics in the Euro Area”, IMF Working Paper No. 17/18, January 2017