Identifying Patterns of Fiscal Consolidation – the Example of EU Countries
DOI:
https://doi.org/10.15678/ZNUEK.2017.0971.1102Keywords:
fiscal consolidation, public finance, correspondence analysis, cluster analysisAbstract
Fiscal consolidation is based on efforts to balance revenues and expenditures on the public budget. This can be achieved by reducing public spending or increasing taxes. Fiscal consolidation has very important macroeconomic consequences in both the long and short term. The aim of this article is to find patterns of fiscal consolidation in EU countries. To detect patterns of the fiscal consolidation, multivariate statistical analysis methods were applied: correspondence and cluster analysis. The macroeconomic effects of fiscal consolidation were also analysed. The study used data from Eurostat.Downloads
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