Short-Term Pain for Long-Term Gain : The Impact of Structural Reform on Fiscal of Outcomes in EMU

Resource Information

The work Short-Term Pain for Long-Term Gain : The Impact of Structural Reform on Fiscal of Outcomes in EMU represents a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries. This resource is a combination of several types including: Work, Language Material, Books.

Label

Short-Term Pain for Long-Term Gain : The Impact of Structural Reform on Fiscal of Outcomes in EMU

Title remainder

The Impact of Structural Reform on Fiscal of Outcomes in EMU

Statement of responsibility

Paul van den Noord and Boris Cournède

Creator

• Noord, Paul van den

Contributor

• Cournede, Boris

Subject

• Economics
• Euro Area

Language

eng

Summary

The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop, it is useful to dispose of empirical estimates of the effect of structural reform on fiscal outcomes, not only the short term cost but also the long-run fiscal gain stemming from changes in spending parameters and better economic performance. Based on econometric estimates for a pool of 21 OECD countries, this study finds a significant net fiscal gain of structural reform

Member of

• Working papers (Organisation for Economic Co-operation and Development. Economics Department), no. 522

Cataloging source

FR-PaOEC

Government publication

international or intergovernmental publication

Index

no index present

Literary form

non fiction

Nature of contents

dictionaries

Series statement

OECD Economics Department Working Papers,

Series volume

no.522