Selected Euro-Area Countries: Rules-Based Fiscal Policy and Job-Rich Growth in France, Germany, Italy and Spain

November 7, 2001

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Format: Chicago

Selected Euro-Area Countries: Rules-Based Fiscal Policy and Job-Rich Growth in France, Germany, Italy and Spain, (USA: International Monetary Fund, 2001) accessed November 27, 2024

Summary

Fiscal deficits and the public debt has grown throughout much of the postwar period in most industrialized countries under the pressure of rising public expenditure, a trend that has begun to reverse after 1992. A number of studies argue that fiscal consolidation in association with expenditure restraint, particularly reductions in primary current expenditure, has proved more durable historically. All in all, the fiscal consolidation essential to qualify for European Monetary Union is a major achievement but also a difficult process in the four countries (France, Germany, Italy, and Spain).

Subject: Budget planning and preparation, Employment, Expenditure, Fiscal policy, Labor, Public financial management (PFM), Wages

Keywords: Budget planning and preparation, CR, Deficit, Deficit share, Employment, Europe, Global, Government, ISCR, Maastricht Treaty deficit limit, Rule, Spending, Spending bias, Spending rule, Wage moderation, Wages, Western Europe

Publication Details

Pages:

121
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2001/203
Stock No:

1EUREA0052001
ISBN:

9781451813005
ISSN:

1934-7685

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