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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

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

`Excessive Deficits': Sense and Nonsense in the Treaty of Maastricht

Buiter, Willem H.; Corsetti, Giancarlo; Roubini, Nouriel - C.E.P.R. Discussion Papers - 1992

EC countries in the Treaty of Maastricht as preconditions for membership in a monetary union. These fiscal convergence … of `excessive deficits' due to political distortions. We conclude that the fiscal convergence criteria should be …

Persistent link: https://www.econbiz.de/10005123755

Aspects of Fiscal Performance in some Transition Economies under Fund-supported Programs

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1996

This paper contains a selective review of some of the key fiscal issues faced by transition economies. The twelve countries that provide the empirical background for this study have all been under Fund programmes for at least some of the time since they initiated their transitions from plan to...

Persistent link: https://www.econbiz.de/10005123808

Capital Mobility, Fiscal Policy and Growth Under Self-Financing of Human Capital Formation

Buiter, Willem H.; Kletzer, Kenneth - C.E.P.R. Discussion Papers - 1995

This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analysed....

Persistent link: https://www.econbiz.de/10005497940