Marinheiro, Carlos - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2007
intentions of policy makers. As a result, there is no evidence in favour of the view that Maastricht rules have forced euro-area …Ever since its inception EMU has been subject to controversy. The fiscal policy rules embedded in the Treaty on … Perotti (2003) concluded that discretionary fiscal policy has actually become more countercyclical in EMU countries after the …