Fiscal consolidation in Europe: composition matters

Article Abstract:

Various research have been made regarding the emergence of fiscal policy issues in several European countries due to the Maastricht Treaty deadline on the reduction of budget deficits. Francesco Giavazzi and Marco Pagano's 1990 paper cited a rise in private consumption during fiscal consolidations. A similar study made by Alberto Alesina and Robert Perotti during the 80s indicate a higher growth rate and a lower unemployment level during a period of consolidation.

Research, Economic aspects, Budget deficits

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Fiscal discipline and the budget process

Article Abstract:

An analysis of the fiscal behavior of Organization for Economic Cooperation and Development countries, transition economies and developing countries show the importance of budget rules and procedures. Hierarchical procedures should be applied to fiscal belt-tightening measures. Balanced budget laws should be adopted by subnational governments only. Furthermore, budget institutions must provide for the transparency of budgets.

Analysis, Laws, regulations and rules, Budget, Budgeting, Budgets

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The European Union: A politically incorrect view

Article Abstract:

The basic functioning of the existing European Union (EU) institutions is described. The two main problems of the ways in which they manifest themselves and the way in which the Constitution might affect them are discussed.

Europe, Management dynamics, Management, European Union, Constitutional law, Constitutional interpretation, Powers and duties, Company business management

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