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Should We Worry About the Fiscal Numerology of Maastricht?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1992

fiscal convergence criteria written into the Treaty of Maastricht and its Protocols. In order to qualify for full membership …

Persistent link: https://www.econbiz.de/10005123517

Indian Public Finance in the 1990s: Challenges and Prospects

Buiter, Willem H.; Patel, U - C.E.P.R. Discussion Papers - 1994

This study updates and extends to the period 1988/9--1992/3 our earlier analysis of the public finances of India. The foreign exchange crisis of early 1991 forced the government to recognize the severity of the fiscal crisis it was facing and led to the implementation of a restrictive fiscal and...

Persistent link: https://www.econbiz.de/10005114352

To Purgatory and Beyond: When and How Should the Accession Countries from Central and Eastern Europe Become Full Members of EMU?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2004

membership. It should also be sufficient. 3) Convergence, prior to the adoption of the euro, of an EMU candidate’s inflation rate … to its euro area equilibrium inflation rate is helpful but not essential. 4) Real convergence is irrelevant for EMU … fiscal sustainability (and preferably also inflation convergence), the EMU candidate should be given a firm date and …

Persistent link: https://www.econbiz.de/10005666853

Economic, Political, and Institutional Prerequisites for Monetary Union Among the Members of the Gulf Cooperation Council

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2008

The paper reviews the arguments for and against monetary union among the six members of the Gulf Cooperation Council - the United Arab Emirates, the State of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, the State of Qatar and the State of Kuwait. Both technical economic arguments...

Persistent link: https://www.econbiz.de/10005791819

Persistent Differences in National Productivity Growth Rates with a Common Technology and Free Capital Mobility

Buiter, Willem H.; Kletzer, Kenneth - C.E.P.R. Discussion Papers - 1991

The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations, even though these countries show a common technology, constant returns to scale and perfect international capital...

Persistent link: https://www.econbiz.de/10005792009

Enterprises in Transition: Macroeconomic Influences on Enterprise Decision-making and Performance

Buiter, Willem H.; Lago, Ricardo; Rey, Hélène - C.E.P.R. Discussion Papers - 1997

The paper analyses the theoretical arguments and empirical evidence linking enterprise performance in transition economies to the macroeconomic environment. Macroeconomic instability is traced to the unsustainability of the fiscal-financial and monetary programmes of the state and to regulatory...

Persistent link: https://www.econbiz.de/10005136652

Cross-border spillovers from fiscal stimulus

Corsetti, Giancarlo; Meier, André; Müller, Gernot - C.E.P.R. Discussion Papers - 2009

The global recession of 2008-09 has revived interest in the international repercussions of domestic policy choices. This paper focuses on the case of fiscal stimulus, investigating cross-border spillovers from an increase in exhaustive government spending on the basis of a two-country business...

Persistent link: https://www.econbiz.de/10008496454

Debt consolidation and fiscal stabilization of deep recessions

Corsetti, Giancarlo; Kuester, Keith; Meier, André; … - C.E.P.R. Discussion Papers - 2010

The global financial crisis of 2008-09 has sent public debt on sharply higher trajectories. With the economic recovery gradually taking hold, the focus is now shifting to fiscal "exit" strategies. Medium-term consolidation efforts are likely to include not only tax increases but also sizeable...

Persistent link: https://www.econbiz.de/10008468677

Fiscal Stimulus with spending reversals

Corsetti, Giancarlo; Meier, André; Müller, Gernot - C.E.P.R. Discussion Papers - 2009

The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that systematically reduces...

Persistent link: https://www.econbiz.de/10004976796

Public Debt in the USA: How Much, How Bad and Who Pays?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1993

In terms of the ratio of its public debt and public deficit to GDP the United States lies in the middle of the pack of industrial countries. The period since 1980 is the only peacetime period outside the Great Depression to see a sustained increase in the debt-GDP ratio. The budgetary...

Persistent link: https://www.econbiz.de/10005123675