Anzeige
Erschienen in:
2024 | OriginalPaper | Buchkapitel
20. The Impact of Pandemic Crisis on Fiscal Sustainability
verfasst von : Ada Cristina Albu
Erschienen in: Constraints and Opportunities in Shaping the Future: New Approaches to Economics and Policy Making
Verlag: Springer Nature Switzerland
Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.
Wählen Sie Textabschnitte aus um mit Künstlicher Intelligenz passenden Patente zu finden. powered by
Markieren Sie Textabschnitte, um KI-gestützt weitere passende Inhalte zu finden. powered by (Link öffnet in neuem Fenster)
Abstract
The pandemic crisis has produced an important transformation of the fiscal framework of European Union states. Thus, the necessity to finance expansionary fiscal policies implemented by governments has resulted in an impressive increase in budgetary deficits and public debts in EU countries. The rise in public indebtedness requires a complete rethinking of the actual fiscal rules. There have been proposed several modifications for the fiscal framework, to consider the high levels of debts and deficits, which cannot be reverted to pre-pandemic values. We will analyze in this paper several proposals to change the actual fiscal rules in a period of low interest rates, which allow the accumulation of further indebtedness. The actual fiscal rules, such as the structural budget balanced rule, the debt rule, or the expenditure rule, are no longer functioning considering the necessity to reach sustainable fiscal positions.
