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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2128

Title: Fiscal consolidations in the Central and Eastern European countries
Authors: Afonso, António
Nickel, Christiane
Rother, Philipp
Keywords: fiscal policy
fiscal episodes
Central and Eastern Europe
Logit models
Issue Date: Apr-2005
Publisher: European Central Bank
Citation: Afonso, António, Christiane Nickel e Philipp Rother. 2005. "Fiscal consolidations in the Central and Eastern European countries". European Central Bank working paper series nº 473-2005
Series/Report no.: European Central Bank working paper series;nº 473-2005
Abstract: We study fiscal consolidations in the Central and Eastern European countries and what determines the probability of their success. We define consolidation events as substantive improvements in fiscal balances adjusting for the impact of cyclical effects. We use Logit models for the period 1991-2003 to assess the determinants of the success of a fiscal adjustment. The results seem to suggest that for these countries expenditure based consolidations have tended to be more successful. By contrast, revenue based consolidations have a tendency to be less successful.
URI: http://hdl.handle.net/10400.5/2128
ISSN: 1725-2806
Publisher version: http://www.ecb.int/pub/pdf/scpwps/ecbwp473.pdf
Appears in Collections:DE - Documentos de trabalho / Working Papers

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