Sustainability of budget deficits and public debts in selected European Union countries

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dc.contributor.authorNeaime, Simon
dc.contributor.departmentDepartment of Economics
dc.contributor.departmentInstitute of Financial Economics
dc.contributor.facultyFaculty of Arts and Sciences (FAS)
dc.contributor.institutionAmerican University of Beirut
dc.date.accessioned2025-01-24T11:23:14Z
dc.date.available2025-01-24T11:23:14Z
dc.date.issued2015
dc.description.abstractThis paper presents a thorough empirical analysis of fiscal developments in the European Union over the past three decades. After an evaluation of major fiscal and financial developments in France, Germany, Greece, Ireland, Italy, Portugal and Spain, the paper uses the Present Value Constraint (PVC) framework to analyze whether European Union's debts and deficits are sustainable. It is shown that some EU's countries could be heading towards a debt and fiscal crisis, which could degenerate into a banking crisis similar to the 2001 Argentinean crisis, unless timely fiscal adjustment/austerity measures are introduced in the near future. © 2014 Elsevier B.V.
dc.identifier.doihttps://doi.org/10.1016/j.jeca.2014.10.002
dc.identifier.eid2-s2.0-84919685914
dc.identifier.urihttp://hdl.handle.net/10938/25646
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofJournal of Economic Asymmetries
dc.sourceScopus
dc.subjectBudget deficits
dc.subjectDebt
dc.subjectEuropean union
dc.subjectSustainability
dc.titleSustainability of budget deficits and public debts in selected European Union countries
dc.typeArticle

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