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.

• INTRODUCTION Part I Theoretical aspects 1 PUBLIC EXPENDITURES, TAXES, DEBT AND ENDOGENOUS GROWTH 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE OPEN ECONOMY Part II Public deficits and stabilization3 PROPOSALS FOR COMMUNITY STABILIZATION MECHANISMS: SOME HISTORICAL APPLICATIONS 4 SOME STOCHASTIC IMPLICATIONS OF THE GOVERNMENT’S BUDGET CONSTRAINT: AN EMPIRICAL ANALYSIS 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY: THE PORTUGUESE CASE, 1958–88 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT: A CGE MODELLING ANALYSIS FOR GREECE 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION: RESULTS OF AN ECONOMETRIC BUSINESS CYCLE MODEL FOR THE FEDERAL REPUBLIC OF GERMANY Part III Structure of public expenditures and implications 8 PUBLIC SPENDING IN FEDERAL STATES: A COMPARATIVE ECONOMETRIC STUDY 9 CAUSALITY BETWEEN PUBLIC EXPENDITURE AND TAXATION: EVIDENCE FROM THE ITALIAN CASE 10 ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN

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.

• INTRODUCTION Part I Theoretical aspects 1 PUBLIC EXPENDITURES, TAXES, DEBT AND ENDOGENOUS GROWTH 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE OPEN ECONOMY Part II Public deficits and stabilization3 PROPOSALS FOR COMMUNITY STABILIZATION MECHANISMS: SOME HISTORICAL APPLICATIONS 4 SOME STOCHASTIC IMPLICATIONS OF THE GOVERNMENT’S BUDGET CONSTRAINT: AN EMPIRICAL ANALYSIS 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY: THE PORTUGUESE CASE, 1958–88 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT: A CGE MODELLING ANALYSIS FOR GREECE 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION: RESULTS OF AN ECONOMETRIC BUSINESS CYCLE MODEL FOR THE FEDERAL REPUBLIC OF GERMANY Part III Structure of public expenditures and implications 8 PUBLIC SPENDING IN FEDERAL STATES: A COMPARATIVE ECONOMETRIC STUDY 9 CAUSALITY BETWEEN PUBLIC EXPENDITURE AND TAXATION: EVIDENCE FROM THE ITALIAN CASE 10 ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN

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.

• INTRODUCTION Part I Theoretical aspects 1 PUBLIC EXPENDITURES, TAXES, DEBT AND ENDOGENOUS GROWTH 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE OPEN ECONOMY Part II Public deficits and stabilization3 PROPOSALS FOR COMMUNITY STABILIZATION MECHANISMS: SOME HISTORICAL APPLICATIONS 4 SOME STOCHASTIC IMPLICATIONS OF THE GOVERNMENT’S BUDGET CONSTRAINT: AN EMPIRICAL ANALYSIS 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY: THE PORTUGUESE CASE, 1958–88 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT: A CGE MODELLING ANALYSIS FOR GREECE 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION: RESULTS OF AN ECONOMETRIC BUSINESS CYCLE MODEL FOR THE FEDERAL REPUBLIC OF GERMANY Part III Structure of public expenditures and implications 8 PUBLIC SPENDING IN FEDERAL STATES: A COMPARATIVE ECONOMETRIC STUDY 9 CAUSALITY BETWEEN PUBLIC EXPENDITURE AND TAXATION: EVIDENCE FROM THE ITALIAN CASE 10 ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN