Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2017.1305777
Identifying relationship between macroeconomic and fiscal policy variables for EU countries and Turkey
Yusuf Temur
Halit Çiçek
İlhan Eroğlu
Cumhur Erdem
Sažetak
Following the 2008 global financial crisis, the European Debt Crisis
has affected the world economy more than any other event. The
member states of the European Monetary Union have deviated from
the Maastricht Convergence Criteria (MCC) and this has led to the
European Debt Crisis. We have used the 2000 Q1–2011 Q4 data and
multivariate time series and panel data analysis for determining the
relationship among the variables that establish the MCC comprising
inflation, burden of net public debt, interest rate, budget deficit
and exchange rate. The vector autoregression model/vector error
correction model results have showed that there is an interaction
between the variables. However, the panel cointegration results have
confirmed increases in budget deficits and interest rates will increase
the burden of net public debt and inflation will decrease it.
Ključne riječi
Financial crisis; interest rate; budget deficit; public debt; EU
Hrčak ID:
180807
URI
Datum izdavanja:
1.12.2017.
Posjeta: 1.097 *