Fiscal Stance in the Selected European Union Member States in the Times of the Economic Slowdown
DOI:
https://doi.org/10.18559/vc5jg906Keywords:
Fiscal policy, Budget deficit, Business cyclesAbstract
This article presents issues related to the assessment of the fiscal stance in the selected European Union countries with a derogation. For this purpose, the paper discusses the concept of discretionary fiscal policy and the key issues associated with it. The main assessment focuses on the fiscal stance of the analysed countries. The analysis shows that changes in the cyclically adjusted balance make it possible to state that in times of slowdown the analysed countries showed pro-cyclical tightening. Such a trend in the fiscal policy of countries with a derogation can be explained, among other things, by efforts to fulfil the fiscal convergence criteria, or the implementation of actions recommended under the excessive deficit procedures.
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