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Public finances in EMU : 2002





 

Campo Valor
Formato Analítico de periódico ou monográfico
N.º Sistema 000007390
Autor LinkEuropean Union. European Commission. Directorate General for Economic and Financial Affairs
Título LinkPublic finances in EMU : 2002 / European Commission
Texto Integral
Língua inglês
País União Europeia
Local LinkLuxembourg
Editor LinkOffice for Official Publications of the European Communities
Ano 2002
Colecção LinkEuropean economy . Reports and Studies : Public finances in EMU ; 3. ISSN 0379-0991
Tipo de Documento LinkFascículo LinkDocumento eletrónico LinkRelatório
Índice Summary and main conclusions
Part I: Current developments and prospects
1. Budgetary developments over the 2001–03 period
1.1. Budget balances and debt: short-term developments and prospects
1.2. Government revenue and expenditure
2. The fiscal stance and policy mix
2.1. Policy mix and fiscal stance in the euro area
2.2. Fiscal stance and policy-mix at the national level
2.3. What is the impact of discretionary fiscal policies in 2001 and 2002?
3. Overview of the 2001 updates of the stability and convergence programmes
3.1. Medium-term budgetary developments
3.2. Composition of the adjustment
4. The long-term sustainability of public finances
4.1. The budgetary impact of ageing
4.2. Country positions
Part II: Evolving budgetary surveillance and coordination
1. The Stability and Growth Pact: implementing the new code of conduct
1.1. A revised code of conduct approved in July 2001
1.2. How the revised code of conduct has improved the functioning of the SGP
2. Reacting to slippage from budgetary targets: the implementation of the ’early-warning’ system of the SGP
2.1. Introduction
2.2. The role of early-warning mechanisms and how they work
2.3. The budgetary situation in Germany and Portugal
2.4. The decision of the Council and subsequent actions by the Member States concerned
2.5. Follow-up to the decision of the Ecofin Council and lessons for the future
3. The measurement of cyclically-adjusted budget balances
3.1. Background
3.2. The new Commission approach to calculate cyclically-adjusted budget balances
3.2.1. The Commission production function approach to estimate the GDP output gap
3.2.2. The budget sensitivity to the output gap
3.3. Comparing the estimates of cyclically-adjusted budget balances of the Commission with those of other international organisations
3.4. The need for caution when interpreting cyclically-adjusted budget balances
3.4.1. Issues related to the estimation of output gaps and budgetary elasticities
3.4.2. Issues related to the measurement of actual budget balances in the national accounts
3.5. Re-estimation of the minimal cyclical safety margins under the SGP
4. Incorporating the sustainability of public finances into the Stability and Growth Pact
4.1. Greater recognition on the need to prepare for the budgetary challenges posed by ageing populations
4.2. Defining sustainability and the scope of the assessment exercise
4.3. Quantitative indicators of the sustainability of public finances
4.3.1. The sustainability indicators suggested by the EPC
4.3.2. The budgetary projections used to make a quantitative assessment
4.3.3. The outcome of the sustainability indicators and lessons for future assessment exercises
Annex A. Main features of the new production function method of the Commission to calculate output gaps
Annex B. The indicators to assess the sustainability of public finances
Part III: Public expenditure in EU countries
1. Introduction
2. The size and the composition of public expenditure
2.1. A comparison with the United States and Japan
2.2. The composition of public spending in EU Member States
2.3. Explaining the increase in government expenditure
3. An examination of the functions of public spending
3.1. The functional distribution of public spending
3.1.1. An interpretation
3.2. A closer look at spending on social protection
3.2.1. Overall trends
3.2.2. Healthcare
3.2.3. Active labour market policies
4. The composition of public expenditure: a synthetic indicator
4.1. The debate on the ‘quality’ of public spending
4.2. The challenge of developing synthetic indicators of the composition of public expenditure
4.3. Developing an indicator of the composition of public spending
4.3.1. Data requirements
4.3.2. The contribution of public spending items to efficiency
4.4. Results
Annex A. The synthetic indicators of expenditure composition
Part IV: Is there a role for discretionary fiscal policy in EMU
1. Introduction
2. Reassessing the role of discretionary fiscal policy in EMU
2.1. Fiscal stabilisation in EMU: the standard textbook analysis
2.2. Country-specific needs for stabilisation in EMU
2.3. What degree of cyclical smoothing can be attained via automatic stabilisers?
3. Discretionary fiscal policy in the light of the Stability and Growth Pact
3.1. Arguments against the use of discretionary fiscal policy
3.2. An operational reading of the SGP
4. How and when to use discretionary fiscal policy in EMU
4.1. Assessing when discretionary fiscal policy may be desirable
4.2. Designing an efficient stabilisation policy
4.3. Discretionary fiscal policy: a roadmap
5. How effective is discretionary fiscal policy in EMU? Results of QUEST model simulations
5.1. Simulation strategy
5.2. Results
Part V: Key budgetary issues for the candidate countries of central and eastern Europe
1. Introduction
2. Main features of public finances in the CEEC
2.1. Government revenues and expenditures in the CEECs
2.2. The size of the government sector in the CEECs
3. Budgetary challenges for countries undergoing a transition to a market economy
3.1. Developing accurate and reliable government accounts
3.2. Determining the appropriate role for fiscal policy in a fast changing macroeconomic environment
3.2.1. Structural changes and the budget balance
3.2.2. Constraints on fiscal policy
4. Fiscal policy in the institutional framework of accession to EU
5. Implications for the assessment of budgetary positions in the CEECs
Annex A. Estimating a sustainable current account of the balance of payments
Part VI: Member State developments
1. Belgium
2. Denmark
3. Germany
4. Greece
5. Spain
6. France
7. Ireland
8. Italy
9. Luxembourg
10. The Netherlands
11. Austria
12. Portugal
13. Finland
14. Sweden
15. United Kingdom
Part VII: Resources
1. Opinion on the content and format of stability and convergence programmes (2001 code of conduct)
2. 2002 BEPGs policy recommendations on budgetary policy: general part
3. Glossary
4. References
5. Useful Internet links
Nível de conjunto European Economy Directorate-General for Economic and Financial Affairs Nº 3 (2002) 379 p. 0379-0983 PP1606/6
Classif.Temática Link2436 finanças públicas e política orçamental eurovoc
Assunto Linkfinanças públicas
Linkpacto de estabilidade
LinkUnião Económica e Monetária
LinkEstado-Membro UE
Linkpolítica fiscal
Linkpolítica orçamental
Linkproduto interno bruto
Linkfiscalidade
Linkalargamento da União Europeia
Linkeconomia de mercado
LinkPaíses da Europa Central e Oriental
LinkEstados Unidos
LinkJapão
ISBN 92-894-3358-2
Cota CIEJD PP1606/6 ISSUE Informação sobre a biblioteca CIEJD
Ligacao European economy
Existências Ano - 2012
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