22/09/2006 : Workshop Fiscal indicators in the EU budgetary surveillance

Workshop Fiscal indicators in the EU budgetary surveillance Brussels, 22 September 2006

The workshop was organised in three thematic sessions focusing on

long-run sustainability,
the underlying budgetary position and discretionary fiscal policy, and
reliability of fiscal indicators.

Programme (21 kB) ( pdf file 20Kb )

The aim of the workshop was to bring together researchers and fiscal policy experts from public and private institutions with a view to explore the possibility of refining the battery of indicators used by the Commission to assess Member States' budgetary performance, including the need to increase transparency and reliability of data. This challenge has become particular important after the recent reform of the Stability and Growth Pact.

Contributions all files are in PDF format Non-EC contributions - copyright rests with the author
Session 1 Long-term sustainability
F. Ballabriga, ESADE Business School, Barcelona, and C. Martinez-Mongay, European Commission. Discussant: F. Balassone, Banca d'Italia.	“A further inquire about the Sustainability of Fiscal Policy in the EU,?” (226 kB) (pdf file 120kb)
J. Gokhale, Cato Institute, Washington D.C. Discussant: P. Eckefeldt, European Commission.	“Unfunded Obligation Measures for EMU Countries” (2 MB) (pdf file 1200 kb)
Session 2 The measurement of the underlying budgetary position and discretionary fiscal policy
P. Brandner, Austrian Ministry of Finance, L. Diebalek and W. Köhler-Tögelhofer, Austrian National Bank, Vienna. Discussant: J. Fischer, European Commission.	“Budget balance decomposed: Tracking Fiscal Policy in Austria” (132 kB) (pdf file 130 kb)
A. Afonso, ECB,and P. Claeys, European University Institute, Florence. Discussant: J. In't Veld, European Commission.	“The dynamic behaviour of budget components and output – the cases of France, Germany, Portugal and Spain” (478 kB) (pdf file 470 kb)
Session 3 Reliability of fiscal indicators
F. Balassone, IMF and Banca d'Italia, D. Franco and S. Zotteri, Banca d'Italia, Rome. Discussant: J. Nogueira Martins, European Commission.	“The reliability of EMU fiscal indicators: Risks and Safeguards” (142 kB) (pdf file 140 kb)
R. Barrell, I. Hurst and J. Mitchell, National Institute of Economic and Social Research, London. Discussant: G. Kopits, National Bank of Hungary.	“Uncertainty bounds for Cyclically Adjusted Budget Balances” (817 kB) (pdf file 800 kb)

22/09/2006 : Workshop Fiscal indicators in the EU budgetary surveillance

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