Fiscal Policy in the Southern European Union Countries

This book examines public debt hoarding within the Euro Area, which is one of the most complicated challenges regarding modern fiscal policy-making. The author offers an up-to-date analysis of the fiscal situations of Italy, Spain, Portugal, and Greece. The book describes key mechanisms of debt transmission, discusses the potential establishment of fiscal and debt union in the EU, identifies numerous implications, and connects the fiscal positions of the examined countries with the structural flaws of the Euro Area and the monetary policy of the European Central Bank. Moreover, the work presents an estimation of structural budget balances, including a comparison with the estimates of major international institutions such as the IMF, OECD, and European Commission. A separate chapter is devoted to analysing the fiscal policy determinants, using time series since the late 19th century, and the issue of fiscal policy efficiency. Finally, the work provides an overview of debt resolutionoptions. Overall, this book offers eight core chapters intended for the public, professional economists, and policymakers.

Discusses the possible future development (including debt projections) and debt resolution options Presents an up-to-date and in-depth qualitative and quantitative analysis of the Southern EU economies Connects the fiscal positions of the EU4 countries with other (seemingly non-fiscal) factors

Autorentext

Milan Bednár is a graduate of the Prague University of Economics and Business, Czech Republic, where he obtained his PhD in Economic Policy. Currently, he is an Assistant Professor at the Department of Economic and Social Policy at the Faculty of Economics of the Prague University of Economics and Business, Czech Republic. He is a lecturer of various courses, including European Union and Its Policies, Introduction to Economic and Social Policy, Monetary Policy and Business Cycle, Macroeconomic Analysis, and Applied Econometrics. His research focuses on macroeconomic analysis of European countries and policy-making in the European Union.

Inhalt

Chapter 1. Introduction.- Chapter 2. Fiscal Policy and Government Debt in the 21st Century.- Chapter 3. European Debt Crisis and Flaws of the Euro Area.- Chapter 4. Sovereign Debt Channels in the Euro Area.- Chapter 5. European Fiscal and Debt Union.- Chapter 6. Specific Characteristics of EU4 Economies.- Chapter 7. Fiscal Situation in the COVID-19 Aftermath.- Chapter 8. Long-Term Determinants and Efficiency of Fiscal Policies.- Chapter 9. Sovereign Debt Resolution Prospects.- Chapter 10. Conclusions. <p