欧盟财政刺激稳定新冠疫情冲击

IF 1.2 Q3 ECONOMICS Journal of Economic Integration Pub Date : 2022-12-15 DOI:10.11130/jei.2022.37.4.559
S. Menguy
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引用次数: 0

摘要

我们记录了2020年欧洲联盟(欧盟)五个主要国家为应对新冠肺炎疫情而采取的财政政策。然后,我们展示了财政指标与GDP增长之间的相关性。预算赤字和公共债务相对较小的国家更容易实现经济稳定,有更大的空间实施反周期财政政策。此外,公共支出(现金转移)的增加并不总是与经济增长相关,而在减税的情况下,保持政府收入很重要。更准确地说,就2020年欧盟成员国的财政收入而言,降低企业所得税的比重,以维持生产供应和企业创造财富,与更高的经济增长相关。定型的事实表明,与北欧国家一样,间接税对家庭消费的相对比重增加的国家的经济衰退较弱。
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Fiscal Stimulus in the European Union to Stabilize the COVID Shock
We document fiscal policies adopted in 2020 in five major European Union (EU) countries to deal with the COVID-19 pandemic. Then, we show the correlations between fiscal indicators and GDP growth. Economic stabilization was easier in countries where the budget deficit and the public debt were relatively small, with more room for maneuvers to conduct a counter-cyclical fiscal policy. Besides, the increase in public expenditure (cash transfers) did not always correlate with economic growth, whereas preserving government revenue was important in the case of tax cuts. More precisely, regarding the fiscal revenues of the EU member countries in 2020, reducing the weight on corporate income taxation, to sustain production supply and wealth creation by firms, was correlated with higher economic growth. Stylized facts show that the recession was weaker in countries where the relative weight of indirect taxation on household consumption increased, as in the Nordic countries.
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2.30
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18
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