European Community

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Economic Survey of the Euro Area 2009: Fiscal Policy

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14-Jan-2009

The economic downturn and the financial turmoil are intensifying fiscal pressures. In the longer-term, progress towards fiscal sustainability and improving the quality of the public finances remain priorities.

Etude économique de la zone euro 2007: Remettre la politique budgétaire sur la bonne voie

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04-Jan-2007

D’un point de vue comptable, peu importe que la situation budgétaire progresse du fait d’une augmentation des impôts ou d’une réduction des dépenses. Mais dans la pratique, la distinction est très importante. Extrait ...

Economic survey of the Euro Area 2007: Putting fiscal policy back on track

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04-Jan-2007

From an accounting point of view, it makes little difference whether the fiscal situation is improved by raising taxes or cutting spending. From an economic point of view, it does. Extract taken from ...

Economic survey of the Euro Area 2007: Putting fiscal policy back on track

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04-Jan-2007

This chapter assesses the fiscal performance and takes stock of the redesigned Stability and Growth Pact (SGP). It emphasizes the urgency of restoring the sustainability of public finances.  

Short-term pain for long-term gain: The impact of structural reform on fiscal outcomes in EMU

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13-Nov-2006

Paul van den Noord and Boris Cournède

Cette étude économétrique conclut que les réformes structurelles se traduisent par un gain pour les finances publiques. Economics Department Working Paper 522.

Restoring fiscal sustainability in the Euro Area: raise taxes or curb spending?

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07-Nov-2006

Boris Cournède and Frédéric Gonand

This study quantitatively compares the growth implications of different fiscal consolidation strategies. Economics Department Working Paper 520.

Nothing ventured, nothing gained: the long-run fiscal reward of structural reforms

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30-Jun-2006

Peter Hoeller and Claude Giorno

This paper highlights the positive long-run budgetary effects of structural reforms in the euro area.  Economics Department Working Paper 493.

Economic Survey of the Euro Area 2005: Putting the fiscal house in order

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12-Jul-2005

Failure of several euro area countries to abide by the fiscal rules results from blurred incentives, and weak surveillance and enforcement. Addressing these problems requires solid budget institutions.

Meeting of the OECD Council at Ministerial Level, 2005: Enabling Globalisation

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02-May-2005

This year’s OECD Ministerial Council Meeting will be held at OECD Headquarters on 3-4 May 2005 under the chairmanship of Göran Persson, Prime Minister of Sweden, with the overarching theme of “Enabling ...

Fiscal gimmickry in Europe: one-off measures and creative accounting

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10-Feb-2005

Vincent Koen and Paul van den Noord

As deficits approached or crossed the Stability and Growth Pact's 3 per cent of GDP threshold, European governments have found it hard to resist recourse to one-off measures and/or to creative accounting, a temptation also visible during the  Economics Department Working Paper 417.