A stringent necessity: addressing fiscal bubbles with fiscal rules in central and eastern europe

HIGHLIGHTS

• What: The authors investigate the role of episodes of unsustainable increases in public debt (i.e., fiscal bubbles) on the evolution of the stringency of fiscal rules in Central and Eastern European (CEE) countries. The authors focus on CEE EU member states for three reasons. As the empirical part of the paper shows, they have all faced public debt unsustainable episodes and at different periods. The primary motivation behind this paper comes from the unsettled discussion about the costs and benefits of fiscal rules: not only from a macroeconomic but also from a social and political point . . .
  

   

  

  If you want to have access to all the content you need to log in!

  Thanks :)

  Username or Email

  Password

  Remember me

  Lost your password?

  If you don't have an account, you can create one here.