: the accession into the EMU. Under the Stability and Growth Pact, countries have to abide by the Pact to avoid fines, but … reason why some governments use a loose fiscal policy. We use a cross-sectional time-series analysis of the 14 EU members …-271. Buti, M., and van den Noord, P., 2003. Discretionary Fiscal Policy and Elections: The Experience of the Early Years of EMU …

national debts, and in so doing, create additional inflation in the EU. In 1999, Bolt summarizes this argument stating that … Noord, P. 2004. Fiscal Policy in EMU: Rules, Discretion and Political Incentives. Economic Papers. 04 (206): 1- 42 …-58. Jonung, L., Larch, M. 2004. Improving Fiscal Policy in the EU: The Case for Independent Forecasts. European Economy Economic …

Making and Breaking the Rules: French policy on EU 'gouvernement économique' and the Stability and Growth Pact David … on EU 'gouvernement économique' and the Stability and Growth Pact David J. Howarth European Integration online Papers … économique' The French Socialists made EU economic governance a central element of their policy on EMU during the campaign …

politicians that pursue the objective of a balanced budget subject to the Stability and Growth Pact and reelection. A government … not issue long-term nominal debt, as optimal to balance the budget, but long-term inflation-indexed debt. We consider …

The failure of key EU Member States to respect the provisions of the Stability and Growth Pact (SGP) a few years after … Monetary Union (EMU). This paper analyzes 101 reform proposals presented by professional academic and non-academic economists … its inception triggered a heated debate on how to reform the framework of fiscal policy coordination in the Economic and …

The purpose of this note is to compare the characteristics of the actual Stability and Growth Pact with that of a … Stability and Growth Pact and thus legitimise only slight modifications to the Pact. I intend to show rather, that the "modified … European "modified golden rule." The latter would consist in achieving in each EU country a cyclically-adjusted net …

It is widely recognised that fiscal policy will have greater responsibilities for cyclical stabilisation in the EMU …, given the loss of the monetary instrument at national level. At the same time, the EMU's budgetary framework emphasises the …