Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation
This paper looks at the discretionary fi scal and real economy support measures introduced by EMU Member States in response to the crises. The analyses build on a data base assembled by the Commission on individual crises response measures with a view to survey the implementation of the European Eco...
| Main Authors: | , |
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| Format: | Online |
| Language: | eng |
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Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2010
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| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/3869 |
| _version_ | 1811172143792128000 |
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| author | Fischer, Jonas Justo, Isabelle |
| author_facet | Fischer, Jonas Justo, Isabelle |
| author_sort | Fischer, Jonas |
| collection | Portal de Revistas |
| description | This paper looks at the discretionary fi scal and real economy support measures introduced by EMU Member States in response to the crises. The analyses build on a data base assembled by the Commission on individual crises response measures with a view to survey the implementation of the European Economic Recovery Programme (EERP). The paper first provides a broad overview of the types of crises-related measures taken, including broad estimates of their budgetary dimension. On this basis it appears that on an aggregate level, the discretionary support has been in line with agreed principles of being timely, temporary and targeted. Member States with restricted fi scal space has overall taken a more restrictive stance than those with more room of manoeuvre. The paper then looks at how these discretionary measures complement the "automatic" budget tabilisation. It appears that, in budgetary terms, about half of the discretionary measures add to the areas already covered by automatic stabilisers while the other half address other areas such as investments, industrial sectors and vulnerable groups particularly hit by the crises. The overall experience may suggest that it has been helpful with agreed ex-ante principles for how discretionary stimuli should be provided and that the provision of discretionary stimulus under such conditionality can work to strengthen the budgetary stabilisation capacity in a flexible way. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-3869 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2010 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-38692022-04-06T23:52:18Z Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation Respuestas fiscales del gobierno y de la economía real a las crisis: Estabilizadores automáticos versus estabilización automática Fischer, Jonas Justo, Isabelle automatic stabilisers European Economic Recovery Programme (EERP) budget discretionary policies E6 H2 H3 H6 estabilizadores automáticos Plan Europeo de Recuperación Económica (PERE) presupuesto políticas discrecionales E6 H2 H6 H3 This paper looks at the discretionary fi scal and real economy support measures introduced by EMU Member States in response to the crises. The analyses build on a data base assembled by the Commission on individual crises response measures with a view to survey the implementation of the European Economic Recovery Programme (EERP). The paper first provides a broad overview of the types of crises-related measures taken, including broad estimates of their budgetary dimension. On this basis it appears that on an aggregate level, the discretionary support has been in line with agreed principles of being timely, temporary and targeted. Member States with restricted fi scal space has overall taken a more restrictive stance than those with more room of manoeuvre. The paper then looks at how these discretionary measures complement the "automatic" budget tabilisation. It appears that, in budgetary terms, about half of the discretionary measures add to the areas already covered by automatic stabilisers while the other half address other areas such as investments, industrial sectors and vulnerable groups particularly hit by the crises. The overall experience may suggest that it has been helpful with agreed ex-ante principles for how discretionary stimuli should be provided and that the provision of discretionary stimulus under such conditionality can work to strengthen the budgetary stabilisation capacity in a flexible way. Este artículo analiza las medidas discrecionales fi scales y de apoyo a la economía real introducidas por los países miembros de Unión Monetaria Europea en respuesta a la crisis. El análisis se realiza en base a datos recolectados por la Comisión Europea sobre medidas tomadas por cada país en respuesta a la crisis para evaluar la implementación del Programa de Recuperación Económica Europea. El artículo provee una extensa revisión de los tipos de medidas tomadas relacionadas con la crisis, incluyendo estimaciones de su dimensión presupuestaria. Con respecto a esto se encuentra que, a nivel agregado, el apoyo discrecional ha estado en línea con los principios aceptados de ser oportuno, transitorio y selectivo. Los Estados Miembros con capacidad fi scal más limitada en general han adoptado una postura más restrictiva que los que tienen más margen de maniobra. En el documento se analiza cómo estas medidas discrecionales complementan la estabilización presupuestaria "automática". Se encuentra que, en términos presupuestarios, cerca de la mitad de las medidas discrecionales apoyan a áreas ya cubiertas por los estabilizadores automáticos, mientras que la otra mitad apoya otras áreas como inversiones, sectores industriales y grupos vulnerables particularmente afectados por la crisis. La experiencia en general puede sugerir que los estímulos discrecionales han sido de gran ayuda y han estado de acuerdo con los principios preestablecidos de cómo deben ser provistos y que la implementación de este tipo políticas discrecionales pueden fortalecer la capacidad de estabilización presupuestaria de una manera flexible. Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2010-06-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/REyE/article/view/3869 10.55444/2451.7321.2010.v48.n1.3869 Revista de Economía y Estadística; Vol. 48 No. 1 (2010); 11-40 Revista de Economía y Estadística; Vol. 48 Núm. 1 (2010); 11-40 2451-7321 0034-8066 10.55444/2451.7321.2010.v48.n1 eng https://revistas.unc.edu.ar/index.php/REyE/article/view/3869/5091 Derechos de autor 2010 Jonas Fischer, Isabelle Justo http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | automatic stabilisers European Economic Recovery Programme (EERP) budget discretionary policies E6 H2 H3 H6 estabilizadores automáticos Plan Europeo de Recuperación Económica (PERE) presupuesto políticas discrecionales E6 H2 H6 H3 Fischer, Jonas Justo, Isabelle Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title | Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title_alt | Respuestas fiscales del gobierno y de la economía real a las crisis: Estabilizadores automáticos versus estabilización automática |
| title_full | Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title_fullStr | Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title_full_unstemmed | Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title_short | Government Fiscal and Real Economy Responses to the Crises: Automatic Stabilisers versus Automatic Stabilisation |
| title_sort | government fiscal and real economy responses to the crises automatic stabilisers versus automatic stabilisation |
| topic | automatic stabilisers European Economic Recovery Programme (EERP) budget discretionary policies E6 H2 H3 H6 estabilizadores automáticos Plan Europeo de Recuperación Económica (PERE) presupuesto políticas discrecionales E6 H2 H6 H3 |
| topic_facet | automatic stabilisers European Economic Recovery Programme (EERP) budget discretionary policies E6 H2 H3 H6 estabilizadores automáticos Plan Europeo de Recuperación Económica (PERE) presupuesto políticas discrecionales E6 H2 H6 H3 |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/3869 |
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