Fiscal policy responses of euro area countries to the economic crisis

Show simple item record Kinnunen, Helvi Paloviita, Maritta 2014-09-23T07:28:15Z 2014-09-23T07:28:15Z 2011
dc.description.abstract The euro area countries have attempted to use fiscal policy to constrain changes in output, employment and incomes that derive from business-cycle fluctuations. That is to say, policies have been counter-cyclical. During the crisis, policy responded more actively than before to cyclical changes in the economy, as the longer-term goals for public finances were partly put on hold in favour of business-cycle policy. Forecast errors concerning the euro area countries and subsequent data revisions were considerably larger during the crisis than in the earlier years. Economic uncertainty at the time of decision making substantially impacted fiscal plans and their implementation during the recession years.
dc.format.extent 27-36
dc.language.iso eng
dc.subject finanssipolitiikka
dc.subject suhdanteet
dc.subject euroalue
dc.subject kansainvälinen
dc.subject kriisit
dc.subject rahoitusmarkkinat
dc.subject ennusteet
dc.subject virheet
dc.subject SP
dc.subject RP
dc.subject RP TU
dc.title Fiscal policy responses of euro area countries to the economic crisis
dc.type Artikkeli
dc.identifier.urn URN:NBN:fi:bof-201408073686 Bank of Finland. Bulletin. Monetary policy and the global economy
dc.series.number 4

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