Глобальні координаційні імперативи фіскальної політики в ЄС

Ruslan Schava

doi:10.33987/vsed.1(60).2016.29-35

Authors

Ruslan Schava Kyiv National Economic University named after Vadym Hetman, Ukraine

DOI:

https://doi.org/10.33987/vsed.1(60).2016.29-35

Keywords:

fiscal system, the EMU, the EU monetary integration, fiscal rules

Abstract

The article analyzes the evolution of the institutional model of fiscal rules in monetary union.A questions of hierarchical controls of fiscal systems and the evolution of fiscal policy are investigated. The features of putting into practice the implementation of fiscal policy in relation to the new institutional arrangement – fiscal rules and regulations that are able to prevent the debt crisis and strengthen fiscal discipline are analysed. The author’s view on the problem of fiscal systems harmonization in the international economic integrationis proposed

Author Biography

Ruslan Schava, Kyiv National Economic University named after Vadym Hetman

PhD in public administration, Doctoral student of International Accounting and Auditing Department

References

Eichengreen, B., Feldman, R., Leibman, J., Wyplosz, Ch. (2011), Public Debts: Nuts, Bolts and Worries, Geneva Reports on the World Economy 13, 198 р.

Cecchetti, S., Mohantry, M., Zampolli, F. (2011), The Real Effects of Debt // Symposium for Achieving Maximum Long-Run Growth Sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, pp. 1–33.

The Good, The Bad, And the Ugly: 100 Years of Dealing with Public Debt Overhangs (2012), IMF World Economic Outlook, Wash. (D.C.), Ch. 3, pp. 1–34.

Reinhart, C., Reinhart, V., Rogoff, K. (2012), Public Debt Overhangs: Advanced Economy Episodes Since 1800, Journal of Economic Perspective, Vol. 26, No. 3, pp. 69–86.

Reinhart, C., Reinhart, V., Rogoff, K. (2010), Growth in a Time of Debt, American Economic Review: Papers and Proceedings, Vol. 100, No. 2, pp. 573–578.

Caceres, C., Guzzo, V., Segoviano, M. (2010), Sovereign Spreads: Global Risk Aversion, Contagion or Fundamentals, IMF Working Paper, WP/10/120, pp. 1–30.

Alper, E., Forni, L. (2011), Public Debt in Advanced Economies and its Spillover Effects on Long-term Yields, IMF Working Paper, WP/11/210, pp. 1–24.

Fiscal Rules, Independent Institutions and Medium-Term Budgetary Frameworks (2011), EC Survey, pp. 1–13.

Wyplosz, Ch. (2005), Fiscal Policy: Institutions Versus Rules, National Institute Economic Review, No. 191, pp. 70–84.

Hagen von J. (2005), Political Economy of Fiscal Institutions, Governance and the Efficiency of Economic System (GESY) Discussion Paper, No. 149, pp. 1–14.

Current Domestic Fiscal Frameworks Across the EU (2010), Public Finance in EMU. EC, pp. 73–80.

Sutherland, D., Hoeller, P., Merola, R. (2012), Fiscal Consolidation. Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level? OECD Economics Department Working Paper, No. 932, pp. 1–76.