Hughes Hallett, Andrew; Lewis, John - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 392-404
Prior to EMU, fiscal policy within the EU was disciplined by the threat of exclusion of the single currency; post-EMU, discipline has been exerted through the provisions of the Stability and Growth Pact. In this paper, we contrast the discipline induced by the two separate regimes on three...
