Brunila, Anne; Buti, Marco; in't Veld, Jan - Suomen Pankki - 2002
It is widely recognised that fiscal policy will have greater responsibilities for cyclical stabilisation in the EMU … fact be a good thing to the extent that supply-side disturbances call for structural adjustment rather than cyclical … stabilisation. Looking ahead, one of the challenges facing policy-makers will be how to design tax and welfare reforms which, while …