Bénassy-Quéré, Agnès (contributor); … - 2006
suggest that, in the Eu-
ropean Monetary Union, discretionary fiscal policy “surprises” (i.e. unexpected tax cuts and … 1990s and
early 2000s. Moreover, financial markets have been heavily deregulated. Hence, fiscal policy
might have lost (or …/benefit systems and growth potential of the EU” (TAXBEN,
Project no. SCS8-CT-2004-502639), financed by the European Commission under …