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The Resource Fiscal devaluations in the euro area: what has been done since the crisis?

Fiscal devaluations in the euro area: what has been done since the crisis?

Label
Fiscal devaluations in the euro area: what has been done since the crisis?
Title
Fiscal devaluations in the euro area: what has been done since the crisis?
Creator
Subject
Language
eng
Summary
In recent years, the concept of a fiscal devaluation has been advocated as fiscal policy alternative to nominal exchange rate devaluations for peripheral deficit countries in the euro area to regain competitiveness. This paper investigates if countries in the euro area implemented fiscal devaluations in the aftermath of the economic and financial crisis and if so, how these reforms are expected to affect their competitiveness positions. Despite much discussion, no country has yet undertaken a substantial fiscal devaluation. Some reductions in social security contributions were introduced, mainly to create job incentives, while consumption taxes (VAT) were increased. Although countries could benefit from a fiscal devaluation, their feasibility is politically constraint and effects are likely to be small in magnitude relative to the size of economic problems. Overall, fiscal devaluations cannot be a substitute for deep structural reforms that are urgently needed to address the underlying weaknesses of European economies
http://library.link/vocab/creatorName
Puglisi, L
Geographic coverage
  • European Union
  • Europe
Index
no index present
Language note
English
Literary form
non fiction
Series statement
Taxation papers: working paper
Series volume
47/2014
http://library.link/vocab/subjectName
  • European Union
  • euro
  • tax policy
  • VAT
  • social security
Label
Fiscal devaluations in the euro area: what has been done since the crisis?
Instantiates
Publication
Extent
34 p.
Isbn
9789279403200
Isbn Type
(pdf)
Issn
ISSN 1725-3217 (online)
Label
Fiscal devaluations in the euro area: what has been done since the crisis?
Publication
Extent
34 p.
Isbn
9789279403200
Isbn Type
(pdf)
Issn
ISSN 1725-3217 (online)

Library Locations

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      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
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