The name is absent



Christiano et al., 134

Christoffersen, 191

Claeys, 134

Coeuré and Pisani-Ferry, 18

Cohen and Follette, 126

Consumer Price Index (CPI), 199

covariance matrix, 130

Cutler, 70

cyclical conditions, 11, 57

fiscal response to, 27

Dalsgaard and de Serres, 129

De Arcangelis and Lamartina, 139

debt

definition of, 165

debt accounting

in EU15, 49

debt accumulation

response of the primary surplus to,

23, 40

debt developments

in EU15, 21

debt levels, 18, 22, 24, 25, 38, 39

reduction of, 26

debt stocks

reaction of the primary balance to, 33

debt sustainability pact, 18

debt-to-GDP ratio, 27, 50, 56, 59, 60,

173

changes in, 24

deficit

definition of, 165

deficit-to-GDP ratio, 103

Denis et al., 186, 204

Denmark

reliability of fiscal data, 183

Diamond, 70

Diebalek et al., 109

Doan et al., 41

Domar, 56

Dynamic Stochastic General

Equilibrium (DSGE) models, 127
dynamic stochastic general equilibrium
models, 120

ECOFIN Council, 18

Economic and Monetary Union (EMU),

17, 59, 123

compliance with requirements, 80

fiscal framework of, 120

fiscal indicators, 163, 177

fiscal pact, 204

fiscal rules, 163

second stage of, 23

economic cycle, 99

economic integration

effects on fiscal behaviour of, 36

Economic Policy Committee, 80
employment

equilibrium level of, 204

EU benchmark, 75

euro

purchasing power of, 60

European Central Bank (ECB), 59, 199

European Commission, 11, 17, 24, 25,
95, 101, 103, 106, 123, 126, 132,
159, 164, 170, 171, 186
output gaps, 142

reporting of fiscal data to, 178

European Statistics Code of Practice,
178

European System of Accounts (ESA),
164

Eurostat, 59, 75, 76, 77, 79, 164, 168,
169, 170, 171, 177

Excessive Deficit Procedure (EDP), 17,
119, 120

implementation of, 164

regulation of statistics, 177

expenditures

non-indexation of, 117

Fatas and Mihov, 103, 142, 146

Faust and Leeper, 134, 160

Federal Accounting Standards Advisory

Board, 70

Feldstein, 60

financial assets

identification of transactions, 177

Finn, 128

fiscal adjustment, 79

fiscal convergence criteria, 182

fiscal data

times series properties of, 20

fiscal developments, 22

220




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