Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy

This paper empirically examines how fiscal rules and tax autonomy influence deficits of sub-national sectors across European countries. I use a new panel-data set to measure tax autonomy and the stringency of fiscal rules for EU15 regional and local government sectors over the period 1995 to 2008. I...

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Detalles Bibliográficos
Autor: Foremny, Dirk
Tipo de recurso: artículo
Estado:Versión aceptada para publicación
Fecha de publicación:2014
País:España
Institución:Universidad de Barcelona
Repositorio:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/119349
Acceso en línea:https://hdl.handle.net/2445/119349
Access Level:acceso abierto
Palabra clave:Política fiscal
Dèficit públic
Deute tributari
Països de la Unió Europea
Fiscal policy
Budget deficits
Tax debt
European Union countries
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spelling Sub-national deficits in European countries: The impact of fiscal rules and tax autonomyForemny, DirkPolítica fiscalDèficit públicDeute tributariPaïsos de la Unió EuropeaFiscal policyBudget deficitsTax debtEuropean Union countriesThis paper empirically examines how fiscal rules and tax autonomy influence deficits of sub-national sectors across European countries. I use a new panel-data set to measure tax autonomy and the stringency of fiscal rules for EU15 regional and local government sectors over the period 1995 to 2008. I apply an instrumental variables approach to obtain an unbiased estimate of the impact of fiscal rules on deficits. I use political variables describing the central governments characteristics as instruments for fiscal rules at the sub-national level. The results show that the effectiveness of fiscal rules and tax autonomy depends on the constitutional structure. Fiscal rules decrease deficits only in unitary countries. Deficits of sub-national sectors in federations can be avoided through tax autonomy.Elsevier2014info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfhttps://hdl.handle.net/2445/119349Articles publicats en revistes (Economia)reponame:Dipòsit Digital de la UBinstname:Universidad de BarcelonaInglésVersió postprint del document publicat a: https://doi.org/10.1016/j.ejpoleco.2014.01.003European Journal of Political Economy, 2014, vol. 34, num. June, p. 86-110https://doi.org/10.1016/j.ejpoleco.2014.01.003(c) Elsevier, 2014info:eu-repo/semantics/openAccessoai:diposit.ub.edu:2445/1193492026-05-27T06:46:51Z
dc.title.none.fl_str_mv Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
title Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
spellingShingle Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
Foremny, Dirk
Política fiscal
Dèficit públic
Deute tributari
Països de la Unió Europea
Fiscal policy
Budget deficits
Tax debt
European Union countries
title_short Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
title_full Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
title_fullStr Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
title_full_unstemmed Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
title_sort Sub-national deficits in European countries: The impact of fiscal rules and tax autonomy
dc.creator.none.fl_str_mv Foremny, Dirk
author Foremny, Dirk
author_facet Foremny, Dirk
author_role author
dc.subject.none.fl_str_mv Política fiscal
Dèficit públic
Deute tributari
Països de la Unió Europea
Fiscal policy
Budget deficits
Tax debt
European Union countries
topic Política fiscal
Dèficit públic
Deute tributari
Països de la Unió Europea
Fiscal policy
Budget deficits
Tax debt
European Union countries
description This paper empirically examines how fiscal rules and tax autonomy influence deficits of sub-national sectors across European countries. I use a new panel-data set to measure tax autonomy and the stringency of fiscal rules for EU15 regional and local government sectors over the period 1995 to 2008. I apply an instrumental variables approach to obtain an unbiased estimate of the impact of fiscal rules on deficits. I use political variables describing the central governments characteristics as instruments for fiscal rules at the sub-national level. The results show that the effectiveness of fiscal rules and tax autonomy depends on the constitutional structure. Fiscal rules decrease deficits only in unitary countries. Deficits of sub-national sectors in federations can be avoided through tax autonomy.
publishDate 2014
dc.date.none.fl_str_mv 2014
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/119349
url https://hdl.handle.net/2445/119349
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Versió postprint del document publicat a: https://doi.org/10.1016/j.ejpoleco.2014.01.003
European Journal of Political Economy, 2014, vol. 34, num. June, p. 86-110
https://doi.org/10.1016/j.ejpoleco.2014.01.003
dc.rights.none.fl_str_mv (c) Elsevier, 2014
info:eu-repo/semantics/openAccess
rights_invalid_str_mv (c) Elsevier, 2014
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv Articles publicats en revistes (Economia)
reponame:Dipòsit Digital de la UB
instname:Universidad de Barcelona
instname_str Universidad de Barcelona
reponame_str Dipòsit Digital de la UB
collection Dipòsit Digital de la UB
repository.name.fl_str_mv
repository.mail.fl_str_mv
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