Fitoussi, Jean-Paul; Saraceno, Francesco - In: Revue de l'OFCE n° 102 (2007) 3, pp. 283-314
This paper reviews the debate on the Stability and Growth Pact. Both empirical and theoretical arguments in favour of … Stability Pact is a public social norm, obeyed by countries because of the fear of reputation losses. Our simple model shows …