Voorbeelden van het gebruik van Pro-cyclical in het Engels en hun vertalingen in het Nederlands
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Fiscal policy is expected to remain pro-cyclical in 2004.
This is pro-cyclical and potentially damaging to growth and employment.
The sovereign debt crisis has just confirmed their pro-cyclical nature.
For all countries it is paramount that pro-cyclical policies be avoided in the current economic upswing.
Tax reform should not jeopardise budgetary targets or result in pro-cyclical impulses.
Conversely, risks of overheating and pro-cyclical policy should be averted,
Endorses the fixing of a leverage cap which however should be designed to avoid any pro-cyclical effect;
The fact that the leverage cap tends to be pro-cyclical must be taken into consideration.
Even in these cases, however, the risk that an ex ante counter-cyclical policy becomes ex post pro-cyclical is high.
Any new regulation must also help prevent pro-cyclical impacts and excessive leverage.
situation it is important to monitor and remedy potential pro-cyclical effects.
Long lags have often resulted in a delayed pro-cyclical impact of measures aimed at stabilising economic fluctuations.
It is essential that budgetary consolidation is strengthened in the current economic upswing and that pro-cyclical policies are avoided.
Pro-cyclical impact of herding
Lastly, the fact that the leverage cap tends to be pro-cyclical must be taken into account.
Recent short-term indicators point to a turnaround in the European economy, and thus expansionary measures may ex post have turned out to be pro-cyclical.
However, empirical evidence for the US and Germany suggests some degree of pro-cyclical behaviour at the level of the States.
Such an approach may prove pro-cyclical, placing strains on the public budget during a financial crisis when the State is least well equipped to provide additional financing13.
Given the overheated state of the Irish economy, there is unmistakable evidence of a pro-cyclical policy when the Irish Government lowers taxes
Pro-cyclical policies should be avoided
Bank resolution and the principle of bail-in will be pro-cyclical, as deposit holders
the fiscal framework did not prevent recurrent sizeable revisions of expenditure targets and pro-cyclical expenditure growth financed by revenue windfalls.
However, measures should also be considered to prevent pro-cyclical developments in the housing market in the medium term,
They agreed to come back later this year to the role national fiscal rules and institutions can play to facilitate budgetary consolidation strategies as well as to help avoid pro-cyclical policies.
It remains of the essence that budgetary consolidation is strengthened in the current upswing and that pro-cyclical policies are avoided,
turning the fiscal stance expansionary and pro-cyclical.
partly reflecting inadequate and pro-cyclical prudential requirements
the shadow banking sector, excessive leverage and pro-cyclical behaviour.
A pro-cyclical loosening of the budget in good times should be viewed as a violation of budgetary requirements at EU level,
with due account taken of the need to avoid inappropriate pro-cyclical policies.