EEAG’s 2007 Report provides a comprehensive forecast for the European economy for the coming year, with a special section on Eastern European countries. In addition, it addresses several important policy issues, including an in-depth examination of whether the features of the Scandinavian...

This note examines whether financial markets have a disciplining effect on governments' financial policies. It is concluded that increasing interest burdens indeed lead to lower primary deficits. There is only weak evidence that the fiscal policy rules of the Maastricht Treaty reduced budget...