Primary Deficit Indicator, Tax Gap, and Fiscal Sustainability – Evidence from Central and Eastern EU Member States
Journal Title: "Finanse" Czasopismo Komitetu Nauk o Finansach PAN - Year 2016, Vol 9, Issue 1
Abstract
The main goal of the article is to test the level of fiscal (un)sustainability in the Central and Eastern EU economies, using primary deficit indicator and tax gap indicator – tools proposed and described by Buiter and Blanchard. This goal is accompanied by the following hypotheses: (1) large primary deficits recorded in the investigated economies prevent form stabilizing the public debt volume, (2) actual public revenues in those countries are too low to stabilize current public debt volume (predetermined by public spending policies). The research period covers the years 1996–2015. Data were taken from Eurostat. The results of the research confirm the hypothesis.
Authors and Affiliations
Tomasz Uryszek
Keywords
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