Short-Term Pain for Long-Term Gain: The Impact of Structural Reform on Fiscal of Outcomes in EMU
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...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2006
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| Schriftenreihe: | OECD Economics Department Working Papers
no.522 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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. |
| Beschreibung: | 1 Online-Ressource (17 p.) 21 x 29.7cm. |
| DOI: | 10.1787/412188318674 |
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| spelling | van den Noord, Paul VerfasserIn aut Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU Paul, van den Noord and Boris, Cournède = Quelques coûts à court terme pour des gains durables : Les conséquences budgétaires des réformes de structure dans l'UEM / Paul, van den Noord et Boris, Cournède Quelques coûts à court terme pour des gains durables Paris OECD Publishing 2006 1 Online-Ressource (17 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.522 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. Economics Euro Area Cournède, Boris MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/412188318674 Volltext |
| spellingShingle | van den Noord, Paul Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU Economics Euro Area |
| title | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU |
| title_alt | Quelques coûts à court terme pour des gains durables |
| title_auth | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU |
| title_exact_search | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU |
| title_full | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU Paul, van den Noord and Boris, Cournède = Quelques coûts à court terme pour des gains durables : Les conséquences budgétaires des réformes de structure dans l'UEM / Paul, van den Noord et Boris, Cournède |
| title_fullStr | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU Paul, van den Noord and Boris, Cournède = Quelques coûts à court terme pour des gains durables : Les conséquences budgétaires des réformes de structure dans l'UEM / Paul, van den Noord et Boris, Cournède |
| title_full_unstemmed | Short-Term Pain for Long-Term Gain The Impact of Structural Reform on Fiscal of Outcomes in EMU Paul, van den Noord and Boris, Cournède = Quelques coûts à court terme pour des gains durables : Les conséquences budgétaires des réformes de structure dans l'UEM / Paul, van den Noord et Boris, Cournède |
| title_short | Short-Term Pain for Long-Term Gain |
| title_sort | short term pain for long term gain the impact of structural reform on fiscal of outcomes in emu |
| title_sub | The Impact of Structural Reform on Fiscal of Outcomes in EMU |
| topic | Economics Euro Area |
| topic_facet | Economics Euro Area |
| url | https://doi.org/10.1787/412188318674 |
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