THE ROLE OF FISCAL AND MACROPRUDENTIAL POLICY OF THE EUROPEAN UNION IN THE CRISIS AND POSTCRISIS PERIOD
Authors
Keywords
global financial crisis, fiscal policy, macroprudential policy, European Union
Summary
The paper focuses on the principles underlying the application of the instruments of fiscal and macro-prudential policy to overcome negative effects in crisis periods. The aim is to explore the instruments of fiscal and macro-prudential policy applied in the Member States of the European Union both in the crisis and the post-crisis periods and to analyze their effects. The study involves the application of methods of analysis and synthesis, comparison and statistical techniques for analysis and evaluation. The study of the implemented measures found significant changes in tax policies, with a trend of increasing indirect taxes and reducing the tax burden on labour and capital, to stimulate demand and expand the opportunities for consumption by individuals and to stimulate investment by businesses in the post-crisis period. In macro-prudential policy we may conclude that the implemented reforms are projection and consequence of the reforms implemented by the EU to regulate financial markets and ensure financial stability in the community
Pages: 29
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