Narrative dataset of fiscal actions in the EU New Member States

Description

Dataset encompasses discretionary fiscal actions in the group of 11 EU New Member States (NMS), so far under-researched, throughout 2004-2019. It extends the narrative dataset of fiscal actions in Advanced Economies made by Alesina et al. (2019). Information on actions and their estimated fiscal effects were collected from published annually Convergence or Stability Programmes. Individual actions were classified according to the relevant category of government expenditure and revenue (in line with classification proposed by Alesina et al., 2019) and casted as exogenous or endogenous (building upon distinction introduced by Romer and Romer, 2010). Raw data were then aggregated into fiscal plans, by country and announcement year. Finally, two spreadsheets were created. Baseline spreadsheet contains only fiscal consolidation episodes, following the Alesina et al. (2019), while alternative dataset includes both consolidation and expansion fiscal plans, which extends Alesina et al. (2019) dataset methodologically. Moreover, in the alternative dataset time span of fiscal effects is extended from 5 to 8 years (the longest available) and dividends are added, a category of public revenue not included in Alesina et al. (2019), but non-negligible in the case of the NMS due to post-socialist legacy. Our dataset comprises two spreadsheets: Baseline dataset: DataStructuring consistent with Alesina.xlsx (dataset of fiscal consolidations fully consistent with Alesina et al., 2019) Alternative dataset: DataStructuring symmetric.xlsx (dataset of fiscal impulses – both fiscal consolidations and expansions) Both baseline and alternative datasets are built upon the spreadsheet DataStructuring.xlsx from the original dataset attached to Alesina et al. (2019). This work was supported by the National Science Centre, Poland (Narodowe Centrum Nauki) – Grant number: 2018/29/B/HS4/00737.

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