Tax smoothing in the presence of the Maastricht constraint

David Duffy

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    Abstract

    A sample of European Union countries are examined for evidence of tax smoothing over the period 1970-2005. Two testing procedures are applied to a single sample of countries to assess the consistency of evidence across testing methods. This study includes the application of a new data set to the tax smoothing question which provides an estimate of the temporary component of public expenditure. This study also argues that the application of the constraints imposed on fiscal policy in the Maastricht Treaty will affect the conduct of a tax smoothing policy. The effects of the Maastricht Treaty on tax smoothing behaviour are investigated.
    Original languageEnglish
    Pages (from-to)129-150
    Number of pages22
    JournalJournal of Public Finance and Public Choice
    Volume25
    Issue number2-3
    Publication statusPublished - 2007

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