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Domenii publicaţii > Economie + Tipuri publicaţii > Articol în revistã ştiinţificã
Autori: Albulescu Claudiu Tiberiu
Editorial: Theoretical and Applied Economics, XIX, No. 8(573), p. 85-96, 2012.
Rezumat:
A series of recent studies analyze the impact of financial crisis on the fiscal soundness in the Euro area countries. Even if their documented results present the transmission mechanisms of the financial instability toward the fiscal sector, a more realistic problem is related to the contribution of the fiscal and budgetary disequilibrium to the financial instability propagation. In this line, we show, based on a simple econometric model that, beside the expansionary monetary policy, the budgetary deficit conducts to the financial stability deterioration. The financial stability of the Euro area is measured based on an aggregate financial stability index, constructed by employing the IMF methodology used for the financial stress index.
Cuvinte cheie: Stabilitate financiară, mixul de politici, soliditatea finanţelor publice, zona euro, indice agregat de stabilitate financiară // Financial stability, policy mix, fiscal soundness, Euro area, aggregate financial stability index