Blavoukos, Spyros; Pagoulatos, George - London School of Economics (LSE) - 2008
The EMU fiscal adjustment paths of the four Southern Europe members (Italy, Spain, Greece, and Portugal – SE-4) vary … along two dimensions: a) cross-temporal (pre- and post-EMU accession) and b) cross-country. We account for the cross …-temporal variation by distinguishing between the ‘hard’ and ‘softer’ EMU conditionality of the pre- and post-accession stage. External …