Acta Oeconomica
Volume/Issue:
Volume 71: Issue 3

Expansionary or restrictive policies in the Eurozone? Dominating trends in the first two decades

Authors:
and
Joanna Stawska Department of Finance, University of Lodz, 39 Rewolucji 1905, 90-214 Lodz, Poland

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https://orcid.org/0000-0001-6863-1210
Paulo Jorge Reis Mourao Department of Economics & NIPE, University of Minho, Braga, Portugal

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https://orcid.org/0000-0001-6046-645X
Pages:
405–430
Online Publication Date:
21 Sep 2021
Publication Date:
21 Sep 2021
Article Category:
Research Article
DOI:
https://doi.org/10.1556/032.2021.00020
Keywords (English):
expansiveness; fiscal policy; monetary policy; policy mix; restrictiveness
Restricted access

Abstract

Our aim is to identify periods of restrictive versus expansionary economic policy in the euro area in the last two decades. We firstly conducted the study for identifying the dominant trend in fiscal policies and then in monetary policies. We studied several fiscal outputs, focusing on the cyclical adjusted primary balance. We also analysed the European long-term and short-term interest rates. The study was conducted for several windows, namely for 3-, 4- and 5-year periods. Additional procedures were conducted for robustness checks, namely the study of structural breaks in the analysed time series as well as a study of them recurring to Markov-Switching Regimes models. For most of the analysed periods and subperiods of the series, we concluded for the presence of expansionary policies either in the fiscal or in monetary European domains. Finally, the results and the analysis of dependencies in the euro area economy favour the evidence that economic authorities in the euro area have sought to coordinate monetary and fiscal policy to stabilise the economy.

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Cover Acta Oeconomica
Acta Oeconomica Periodical of the Hungarian Academy of Sciences
Print ISSN:
0001-6373
Online ISSN:
1588-2659
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Editor(s): Ványai, Judit

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  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Beáta Farkas / Faculty of Economics and Business Administration, University of Szeged
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  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

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  • Ǻslund, Anders, Institute of International Economics, Washington (USA)
  • Kolodko, Grzegorz, Kozminski University, Warsaw (Poland)
  • Mau, Vladimir, Academy of National Economy (Russia)
  • Messerlin, Patrick A, Groupe d’Economie Mondiale (France)
  • Saul Estrin, London School of Economics (UK)
  • Wagener, Hans-Jürgen, Europa Universität Viadrina (Germany)

Corvinus University of Budapest
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Fővám tér 8 Budapest, H-1093, Hungary
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2022  
Web of Science  
Total Cites
WoS		 314
Journal Impact Factor 0.8
Rank by Impact Factor

Economics 334/380
TBA
Impact Factor
without
Journal Self Cites		 0.6
5 Year
Impact Factor		 0.8
Journal Citation Indicator 0.29
Rank by Journal Citation Indicator

Economics 421/581

 
Scimago  
Scimago
H-index		 18
Scimago
Journal Rank		 0.23
Scimago Quartile Score

Economics and Econometrics Q3
Scopus  
Scopus
Cite Score		 1.1
Scopus
CIte Score Rank		 Economics and Econometrics 521/705 (26th PCTL)
TBA
Scopus
SNIP		 0.540

2021  
Web of Science  
Total Cites
WoS		 285
Journal Impact Factor 0,939
Rank by Impact Factor Economics 326/379
Impact Factor
without
Journal Self Cites		 0,646
5 Year
Impact Factor		 0,740
Journal Citation Indicator 0,34
Rank by Journal Citation Indicator Economics 389/570
Scimago  
Scimago
H-index		 15
Scimago
Journal Rank		 0,285
Scimago Quartile Score Economics and Econometrics (Q3)
Scopus  
Scopus
Cite Score		 1,4
Scopus
CIte Score Rank		 Economics and Econometrics 436/696 (Q3)
Scopus
SNIP		 0,507

2020  
Total Cites 275
WoS
Journal
Impact Factor		 0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
Journal Self Cites
5 Year 0,500
Impact Factor
Journal  0,38
Citation Indicator  
Rank by Journal  Economics 347/549 (Q3)
Citation Indicator   
Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
Scimago 0,292
Journal Rank
Scimago Economics and Econometrics Q3
Quartile Score  
Scopus 225/166=1,4
Scite Score  
Scopus Economics and Econometrics 392/661 (Q3)
Scite Score Rank  
Scopus 0,668
SNIP  
Days from  289
submission  
to acceptance  
Days from  447
acceptance  
to publication  

2019  
Total Cites
WoS		 212
Impact Factor 0,914
Impact Factor
without
Journal Self Cites		 0,728
5 Year
Impact Factor		 0,650
Immediacy
Index		 0,156
Citable
Items		 45
Total
Articles		 45
Total
Reviews		 0
Cited
Half-Life		 3,9
Citing
Half-Life		 9,5
Eigenfactor
Score		 0,00015
Article Influence
Score		 0,052
% Articles
in
Citable Items		 100,00
Normalized
Eigenfactor		 0,01891
Average
IF
Percentile		 28,437
Scimago
H-index		 12
Scimago
Journal Rank		 0,439
Scopus
Scite Score		 214/165=1,3
Scopus
Scite Score Rank		 Economics and Econometrics 355/637 (Q3)
Scopus
SNIP		 0,989

 

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Acta Oeconomica
Language English
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Year of
Foundation		 1966
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per Year		 1
Issues
per Year		 4
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ISSN 0001-6373 (Print)
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