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The focus of this volume is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers. The papers cover the four general themes of public budget policy: * economic stabilization, in view of the Economic and Monetary Union in the European Community * reinforcing structural change, involved in market liberalization and harmonization of economic structures * its distributional effects and implications for social equity * endogenous economic growth.
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BUDGETARY POLICY MODELLING Public Budget Policy has been traditionally considered as a means for conveying macroeconomic policy, seeking a variety of social and economic objectives. As modern economies face, in the 1990s, a challenging bundle of problems, public policy is of growing importance. This volume contains ten scientific papers presented at the Applied Econometrics Association (AEA) Conference on ‘Public Budget Modelling’, held in Athens in April 1993. The focus is on the European context of public budget policy and a variety of different approaches are used—theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers. The papers cover the four general themes of public budget policy: ● For economic stabilization, in view of the Economic and Monetary Union in the European Community. ● To reinforce structural change, involved in market liberalization and harmonization of economic structures. ● With respect to its distributional effects and implications for social equity. ● To enable endogenous economic growth. Professor Pantélis Capros teaches economics and operations research at the National Technical University of Athens. He has fifteen years of experience in the field of applied economic, energy and environmental modelling and policy analysis and has been involved in the construction of large-scale applied economic models for the European Union. Professor Danièle Meulders holds a chair in Public Finance at the Free University of Brussels and supervises the research team on Labour Economics of the Department of Applied Economics. ROUTLEDGE NEW INTERNATIONAL STUDIES IN ECONOMIC MODELLING Series Editor H M Scobie MODELS FOR ENERGY POLICY Edited by Jean Baptiste Lesourd, Jacques Percebois and François Valette BUDGETARY POLICY MODELLING Public Expenditures Edited by Pantélis Capros and Danièle Meulders ECONOMIC MODELLING AT THE BANQUE DE FRANCE Financial Deregulation and Economic Performance in France Edited by Michel Boutillier and Jean Cordier BUDGETARY POLICY MODELLING Public expenditures Edited by Pantélis Capros and Danièle Meulders London and New York First published 1997 by Routledge 11 New Fetter Lane, London EC4P 4EE This edition published in the Taylor & Francis e-Library, 2005. “ To purchase your own copy of this or any of Taylor & Francis or Routledge’s collection of thousands of eBooks please go to http://www.ebookstore.tandf.co.uk/.” Simultaneously published in the USA and Canada by Routledge 29 West 35th Street, New York, NY 10001 © 1997 Applied Economics Association © 1997 Editorial matter in selection in the name of the editors; individual contributions in the name of the contributors All rights reserved. No part of this book may be reprinted or reproduced or utilized in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. British Library Cataloguing in Publication Data A catalogue record for this book is available from the