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EU Fiscal Policy Coordination in Hard TimesFree Riders on the Storm$
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Charlotte Rommerskirchen

Print publication date: 2019

Print ISBN-13: 9780198829010

Published to Oxford Scholarship Online: March 2019

DOI: 10.1093/oso/9780198829010.001.0001

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Policy Needs Politics

Policy Needs Politics

(p.45) 4 Policy Needs Politics
EU Fiscal Policy Coordination in Hard Times

Charlotte Rommerskirchen

Oxford University Press

This chapter sets out to examine the determinants of fiscal policy outcomes during the Great Recession. EU members form a diverse union. What are the implications of economic and political diversity for public finances and by implication for collective action? To answer this question, this chapter analyzes time-series cross-sectional, country-level data from the twenty-seven EU member states over a three-year period (2008–10). The empirical analysis asserts that the deficit bias attributed to contemporary public finances was stronger during the Great Recession. Political factors (amongst them partisanship, the electoral calendar, and the strength of government) have shaped public finances markedly.

Keywords:   fiscal policy, economic stimulus, political business cycle, collective action, Great Recession

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