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FIRSTRUN SIGNED

Fiscal Rules and Strategies under Externalities and Uncertainties

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

FIRSTRUN project word cloud

Explore the words cloud of the FIRSTRUN project. It provides you a very rough idea of what is the project "FIRSTRUN" about.

models ante legitimation enhanced spillover difficult play country identifies emu run ex put critical theoretical place national governance fiscal government priorities highlight types decision shedding incorporating surveillance mechanisms policies spillovers character domestic cross practical insights forms cooperation framework policy pressures describes makers analyzes first debates deficit investigates externalities roles inter debt risk advisory economy provides political rules light instance fashion tools economic regarding evaluation badly firstrun sharing

Project "FIRSTRUN" data sheet

The following table provides information about the project.

Coordinator	ELINKEINOELAMAN TUTKIMUSLAITOKSEN KANNATUSYHDISTYS RY Organization address address: ARKADIANKATU 23B city: HELSINKI postcode: 100 website: www.etla.fi contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Finland [FI]
Project website	http://www.firstrun.eu/
Total cost	2˙197˙883 €
EC max contribution	2˙197˙883 € (100%)
Programme	1. H2020-EU.3.6. (SOCIETAL CHALLENGES - Europe In A Changing World - Inclusive, Innovative And Reflective Societies)
Code Call	H2020-EURO-SOCIETY-2014
Funding Scheme	RIA
Starting year	2015
Duration (year-month-day)	from 2015-03-01 to 2018-02-28

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	ELINKEINOELAMAN TUTKIMUSLAITOKSEN KANNATUSYHDISTYS RY ELINKEINOELAMAN TUTKIMUSLAITOKSEN KANNATUSYHDISTYS RY Organization address address: ARKADIANKATU 23B city: HELSINKI postcode: 100 website: www.etla.fi contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	FI (HELSINKI)	coordinator	529˙063.00
2	CENTRE FOR EUROPEAN POLICY STUDIES CENTRE FOR EUROPEAN POLICY STUDIES Organization address address: PLACE DU CONGRES 1 city: BRUXELLES postcode: 1000 website: www.ceps.eu contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	BE (BRUXELLES)	participant	446˙562.00
3	NATIONAL INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH LBG NATIONAL INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH LBG Organization address address: DEAN TRENCH STREET 2 city: LONDON postcode: SW1P 3HE website: www.niesr.ac.uk contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	UK (LONDON)	participant	302˙316.00
4	LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE Organization address address: Houghton Street 1 city: LONDON postcode: WC2A 2AE website: www.lse.ac.uk contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	UK (LONDON)	participant	266˙910.00
5	LUISS LIBERA UNIVERSITA INTERNAZIONALE DEGLI STUDI SOCIALI GUIDO CARLI LUISS LIBERA UNIVERSITA INTERNAZIONALE DEGLI STUDI SOCIALI GUIDO CARLI Organization address address: VIALE POLA 12 city: ROMA postcode: 198 website: www.luiss.it contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	IT (ROMA)	participant	266˙250.00
6	INSTITUT FUER HOEHERE STUDIEN - INSTITUTE FOR ADVANCED STUDIES INSTITUT FUER HOEHERE STUDIEN - INSTITUTE FOR ADVANCED STUDIES Organization address address: JOSEFSTAEDTER STRASSE 39 city: WIEN postcode: 1080 website: www.ihs.ac.at contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	AT (WIEN)	participant	191˙156.00
7	CASE - CENTRUM ANALIZ SPOLECZNO- EKONOMICZNYCH- FUNDACJA NAUKOWA CASE - CENTRUM ANALIZ SPOLECZNO- EKONOMICZNYCH- FUNDACJA NAUKOWA Organization address address: ALEJA JANA PAWLA II 61B city: WARSZAWA postcode: 01 031 website: www.case-research.eu contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	PL (WARSZAWA)	participant	99˙125.00
8	EKONOMICKY USTAV SLOVENSKEJ AKADEMIE VIED EKONOMICKY USTAV SLOVENSKEJ AKADEMIE VIED Organization address address: SANCOVA 56 city: BRATISLAVA postcode: 81105 website: www.ekonom.sav.sk contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	SK (BRATISLAVA)	participant	96˙500.00

Map

Project objective

The FIRSTRUN project advances the theoretical and practical debates on the effective mechanisms of fiscal policy coordination. It analyzes the very reason why fiscal policy coordination may be needed in the first place, namely cross-country externalities (spillovers) related to national fiscal policies. Specifically, it identifies different types of spillover effects, investigates how they work in the EU and in the EMU, and analyses whether they work in the same fashion under different states of the economy and over the short and the long run. The project describes different forms that fiscal policy coordination can take in practice, e.g. ex-ante coordination and risk-sharing, and provides a critical assessment of the mechanisms already put in place. The FIRSTRUN project provides new tools for fiscal policy design by incorporating the new EU fiscal rules regarding e.g. government debt and deficit into applied models for fiscal policy evaluation. The tools can be used to support the decision makers in the implementation of the enhanced EU economic governance. FIRSTRUN also investigates the political economy of fiscal cooperation, for instance, the difficult inter-play between domestic political pressures and EU level priorities as well concerns about legitimation. By shedding light on the character of the governance framework for fiscal coordination, FIRSTRUN will highlight the features that work well or badly and provide insights that the EU level can exploit in its surveillance and advisory roles.

Deliverables

List of deliverables.
A research report highlighting the key implications of the FIRSTRUN results	Documents, reports	2019-05-31 13:02:14
Third lunch time seminar in Brussels	Other	2019-05-31 13:02:25
Paper on the implementation of fiscal rules across the EU	Documents, reports	2019-05-31 13:02:03
A description of the macroprudential policy block of the NiGEM model (selected European countries)	Documents, reports	2019-05-31 13:02:04
Research paper on Government Debt Deleveraging in the Eurozone	Documents, reports	2019-05-31 13:02:03
Discussion paper on long-run spillover and coordination effects of fiscal policy reforms	Documents, reports	2019-05-31 13:02:17
Final Conference	Other	2019-05-31 13:02:27
Briefing paper providing a readable summary of results for non-specialist readers	Documents, reports	2019-05-31 13:02:01
Working paper on cross-country pension reform coordination	Documents, reports	2019-05-31 13:02:13
Empirical paper on credit and equity market integration	Documents, reports	2019-05-31 13:02:25
Empirical paper on measuring spillover effects in EMU and EU	Documents, reports	2019-05-31 13:02:18
Progress Report	Documents, reports	2019-05-31 13:02:12
Second lunch time seminar in Brussels	Other	2019-05-31 13:02:23
Data Management Plan	Documents, reports	2019-05-31 13:02:09
Comparative paper on how fiscal rules are being interpreted in the Member States	Documents, reports	2019-05-31 13:02:03
Research paper on the monetary-fiscal-macroprudential policy mix	Documents, reports	2019-05-31 13:01:56
Second Stakeholder Forum in Warsaw	Other	2019-05-31 13:02:16
Working paper on stochastic analysis of MTO-based fiscal policy rules	Documents, reports	2019-05-31 13:02:06
Concise briefing paper	Documents, reports	2019-05-31 13:02:20
Policy report bringing together the lessons from the empirical and conceptual work.	Documents, reports	2019-05-31 13:02:25
Paper on in-depth case studies of the experience of fiscal coordination in selected countries	Documents, reports	2019-05-31 13:01:57
Research paper on potential transmission channels of macroprudential policy	Documents, reports	2019-05-31 13:02:10
Paper on unorthodox transmission mechanisms	Documents, reports	2019-05-31 13:02:35
Policy paper on how to adapt EU funds	Documents, reports	2019-05-30 16:51:07
Working paper on fiscal capacity	Documents, reports	2019-05-30 16:50:59
Working paper that uses stochastic simulations of the fiscal outcomes	Documents, reports	2019-05-30 16:50:56
Research paper on the impacts of different constellations of monetary and policy mix in the Euro Area following the global financial crisis	Documents, reports	2019-05-30 16:51:00
Empirical working paper with policy implications using deliverable 2.1	Documents, reports	2019-05-30 16:50:54
Working paper on the MIP Scoreboard	Documents, reports	2019-05-30 16:51:02
Working paper on the credibility of EU fiscal instruments	Documents, reports	2019-05-30 16:51:01
Research report about the fiscal multipliers	Documents, reports	2019-05-30 16:51:00
Report on the findings of the comparative analysis of the efficiency of the budgetary-monetary-financial policy mix in selected OECD countries	Documents, reports	2019-05-30 16:51:04
Working paper on comparing unemployment insurance schemes	Documents, reports	2019-05-30 16:51:01
Working paper on medium-run stabilization potential of a EU central budget	Documents, reports	2019-05-30 16:50:56
A dataset of fiscal variables	Other	2019-05-31 12:38:47
Working paper on fiscal policy spillovers	Documents, reports	2019-05-31 12:38:43
Review of the literature on elements of fiscal union	Documents, reports	2019-05-30 18:58:27
Working paper making comparisons between the requirements that countries face during the current crisis and historical examples of consolidations	Documents, reports	2019-05-31 12:38:50
Research paper on government debt, unconventional monetary policy and interest rate differentials	Documents, reports	2019-05-31 12:38:42
Literature review	Documents, reports	2019-05-30 17:34:45
First Stakeholder Forum in Brussels	Other	2019-05-31 12:38:49
An interactive web site and a Twitter account	Websites, patent fillings, videos etc.	2019-05-31 12:38:41
Working paper on stochastic modelling of labor productivity and structural deficits	Documents, reports	2019-05-31 12:38:31
First lunch time seminar in Brussels	Other	2019-05-31 12:38:43
Review paper on the current state of the art as regards the budgetary-monetary-financial policy mix	Documents, reports	2019-05-30 17:34:45
A review paper elaborating the concepts of the expenditory state/deep variable	Documents, reports	2019-05-31 12:38:44

Take a look to the deliverables list in detail: detailed list of FIRSTRUN deliverables.

Publications

List of publications.
year	authors and title	journal	last update
2018	Oriol Carreras, E. Philip Davis, Rebecca Piggott ASSESSING MACROPRUDENTIAL TOOLS IN OECD COUNTRIES WITHIN A COINTEGRATION FRAMEWORK published pages: , ISSN: 1572-3089, DOI: 10.1016/j.jfs.2018.04.004	Journal of Financial Stability	2019-06-07
2017	Paul De Grauwe, Yuemei Ji The International Synchronisation of Business Cycles: the Role of Animal Spirits published pages: 383-412, ISSN: 0923-7992, DOI: 10.1007/s11079-017-9434-3	Open Economies Review 28/3	2019-06-07
2017	Cinzia Alcidi, Gilles Thirion The Stabilising Role of US Federal Fiscal Institutions â€” What Lessons for the Euro Area? published pages: 137-142, ISSN: 0020-5346, DOI: 10.1007/s10272-017-0662-y	Intereconomics 52/3	2019-06-07
2015	Iain Begg, Annette Bongardt, Kalypso NicolaÃ¯dis, Francisco Torres EMU and Sustainable Integration published pages: 803-816, ISSN: 0703-6337, DOI: 10.1080/07036337.2015.1079375	Journal of European Integration 37/7	2019-06-07

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