Fiscal Sustainability of Eu Member States in the Context of Current Financial Crisis

Stubelj, Igor; Dolenc, Primož

doi:10.1080/1331677x.2010.11517432

Cited by 8 publications

(4 citation statements)

References 24 publications

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“…Results are in line with neoclassical theoretical view and empirical studies, however, it is interesting, that elasticities are remarkably higher than in previous studies. This could be explained by the negative macroeconomic trends due to the economic crisis after 2008 (see on this issue Stubelj and Dolenc, 2010) and the effect of labour market institutions on employment.…”

Section: Discussionmentioning

confidence: 95%

Minimum wage effects on youth employment in the European Union

Laporšek

2013

Applied Economics Letters

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The purpose of this article is to estimate minimum wage effects on youth employment in the European Union (EU). The analysis employs a panel regression method with fixed effects and uses data for 18 EU member states with statutory minimum wage over the period 1996 to 2011. The analysis is restricted to teenage workers between 15 and 19 years of age and young workers between 20 and 24 years of age. The study finds a negative, statistically significant impact of minimum wage on youth employment, by which the disemployment effect appears to be stronger for teenage workers. The effect remains negative and statistically significant also when controlled for other labour market institutions. Taking into account empirical results, we can conclude that EU countries should be more cautious when setting up minimum wages for young workers, as disemployment effects may have been downplayed.

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Section: Discussionmentioning

confidence: 95%

Minimum wage effects on youth employment in the European Union

Laporšek

2013

Applied Economics Letters

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“…Fiscal balance. Large fiscal deficits reduce the country's savings and indicate macroeconomic disequilibria (Afonso et al, 2011;Stubelj and Dolenc, 2010). The expected sign of the estimate of the parameter for Fiscal balance is positive.…”

Section: Explanatory Variablesmentioning

confidence: 89%

Sovereign Credit Ratings in „New“ EU Member States – A Comparative Analysis in Times of Crisis and Tranquility

Stawasz‐Grabowska¹,

Stawska²

2021

ekoncas

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“…Quantitative relations but also the effects of lag appears to be largely important both for fiscal and monetary policy (Jovanovski, Murić 2011). Fiscal sustainability although important for small open economies (Stubelj, Dolenc 2010) is subject to the law of the golden triangle. Kaldor (1992) noticed: "Policymakers are confronted with a trade-off between inflation and unemployment characterized by a traditional Philips curve.…”

Section: Related Literaturementioning

confidence: 99%

How Useful Is the Golden Triangle Law in Economics?

Škare

2014

Technological and Economic Development of Economy

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We explore the long term relationship between unemployment, inflation and output in the United Kingdom during 1851–2011 in search for a possible “golden triangle” connecting “natural” unemployment, price stability and strong (fast) rates of output growth. Exploring the possibility of existence of such internal macroeconomic equilibrium is important in setting and attaining these most acclaimed macroeconomic objectives. Not only could the results be applied in setting policy objectives but also unveil if low unemployment, stable prices and fast growth are supportive objectives. Preliminary results are encouraging and open the path for further research on the subject. Not a single economic policy designed on just a vague notion on the relationship between inflation, unemployment and output should be used since it will bring disaster to the economy.

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Fiscal Sustainability of Eu Member States in the Context of Current Financial Crisis

Abstract: This paper tackles the question of fiscal sustainability in current times

Cited by 8 publications

References 24 publications

Minimum wage effects on youth employment in the European Union

Minimum wage effects on youth employment in the European Union

Sovereign Credit Ratings in „New“ EU Member States – A Comparative Analysis in Times of Crisis and Tranquility

How Useful Is the Golden Triangle Law in Economics?

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