Public Budget Policy has been traditionally considered as a means for conveying macroeconomic policy, seeking a variety of social and economic objectives. As modern economies face, in the 1990s, a challenging bundle of problems, public policy is of growing importance.
This volume contains ten scientific papers presented at the Applied Econometrics Association (AEA) Conference on 'Public Budget Modelling', held in Athens in April 1993.
The focus is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers.
The focus of this volume is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers.
The papers cover the four general themes of public budget policy:
* economic stabilization, in view of the Economic and Monetary Union in the European Community
* reinforcing structural change, involved in market liberalization and harmonization of economic structures
* its distributional effects and implications for social equity
* endogenous economic growth.
INTRODUCTION Part I Theoretical aspects 1 PUBLIC EXPENDITURES, TAXES,
DEBT AND ENDOGENOUS GROWTH 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE
OPEN ECONOMY Part II Public deficits and stabilization3 PROPOSALS FOR
COMMUNITY STABILIZATION MECHANISMS: SOME HISTORICAL APPLICATIONS 4 SOME
STOCHASTIC IMPLICATIONS OF THE GOVERNMENTS BUDGET CONSTRAINT: AN EMPIRICAL
ANALYSIS 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY: THE
PORTUGUESE CASE, 195888 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT: A CGE
MODELLING ANALYSIS FOR GREECE 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION:
RESULTS OF AN ECONOMETRIC BUSINESS CYCLE MODEL FOR THE FEDERAL REPUBLIC OF
GERMANY Part III Structure of public expenditures and implications 8 PUBLIC
SPENDING IN FEDERAL STATES: A COMPARATIVE ECONOMETRIC STUDY 9 CAUSALITY
BETWEEN PUBLIC EXPENDITURE AND TAXATION: EVIDENCE FROM THE ITALIAN CASE 10
ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN
Professor Pantélis Capros teaches economics and operations research at the National Technical University of Athens. He has fifteen years of experience in the field of applied economic, energy and environmental modelling and policy analysis and has been involved in the construction of large-scale applied economic models for the European Union. Professor Danièle Meulders holds a chair in Public Finance at the Free University of Brussels and supervises the research team on Labour Economics of the Department of Applied Economics.
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