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Fiscal Policy, intercountry adjustment and the real exchange rate within Europe

Allsopp, Christopher; Vines, David - Directorate-General Economic and Financial Affairs, … - 2008

In EMU, a country may have difficulty ensuring stability in the face of asymmetric shocks; the response may be unstable … performance within Europe. Within EMU, a country may have difficulty ensuring stability in the face of asymmetric shocks; the …

Persistent link: https://www.econbiz.de/10008577462

101 Proposals to reform the Stability and Growth Pact. Why so many? A Survey

Fischer, Jonas; Jonung, Lars; Larch, Martin - Directorate-General Economic and Financial Affairs, … - 2007

and Monetary Union (EMU). This paper systematically analyzes 101 reform proposals presented by professional academic and … background of its author(s), the main aim attached to fiscal policy coordination in the EMU, the timing of the proposal and the …

Persistent link: https://www.econbiz.de/10008595783

Public investment and the EU fiscal framework

Turrini, Alessandro - Directorate-General Economic and Financial Affairs, … - 2004

rules for fiscal discipline is not a clear-cut one. On the one hand, after phase II of EMU, public investment is found to be … indicate that after phase II of EMU public investment became positively related to previous period budget balances, so that the …

Persistent link: https://www.econbiz.de/10008459156

Coordination arrangements across government sub-sectors in EU Member States

Tournemire, Georges - Directorate-General Economic and Financial Affairs, … - 2014

Coordination arrangements should ensure that fiscal policy is conducted in a consistent manner across the various public entities and sub-sectors of general government. This dimension has gained in relevance as recent fiscal governance reforms in the European Union have put a premium on sound...

Persistent link: https://www.econbiz.de/10010796492

EMU's Decentralized System of Fiscal Policy

Hagen, Jürgen von; Wyplosz, Charles - Directorate-General Economic and Financial Affairs, … - 2008

This paper reviews the macroeconomic use of national fiscal policy in EMU and examines the rational and scope for a …

Persistent link: https://www.econbiz.de/10008459219

The Evolution of Economic Governance in EMU

Noord, Paul van den; Döhring, Björn; Langedijk, Sven; … - Directorate-General Economic and Financial Affairs, … - 2008

This paper examines the benefits of co-ordination in EMU in a stylised manner and how these benefits have shaped the co …-ordination framework in EMU. It then discusses in detail the co-ordination experience in four areas that are particularly important for the … functioning of EMU: (i) fiscal policy co-ordination under the Stability and Growth Pact (SGP); (ii) the co-ordination of …

Persistent link: https://www.econbiz.de/10008459212

Proceedings from the ECFIN Workshop "The budgetary implications of structural reforms" - Brussels, 2 December 2005

Deroose, S.; Flores, E.; Turrini, A. - Directorate-General Economic and Financial Affairs, … - 2006

Most of the reforms discussed within the framework of the Lisbon strategy will benefit public finances in the long term. However, in the short-term, there could a trade-off between some structural reforms and budgetary discipline. This possible tension between reforms and fiscal discipline was...

Persistent link: https://www.econbiz.de/10008595799

Sustainability of EU public finances

Ballabriga, Fernando C.; Martinez-Mongay, Carlos - Directorate-General Economic and Financial Affairs, … - 2005

fiscal stabilization and discipline in EMU. …

Persistent link: https://www.econbiz.de/10008595801

Revisiting the Stability and Growth Pact: grand design or internal adjustment?

Buti, Marco; Eijffinger, Sylvester; Franco, Daniele - Directorate-General Economic and Financial Affairs, … - 2003

, given the existing degree of political integration in EMU, internal adjustment rather than attempting to re-design the rules …

Persistent link: https://www.econbiz.de/10008577500

Economic spillover and policy coordination in the Euro area

Weyerstrass, Klaus; Jaenicke, Johannes; Neck, Reinhard; … - Directorate-General Economic and Financial Affairs, … - 2006

There is a broad consensus among economists that the increased interdependence that comes from sharing a common currency and a single monetary policy justifies some degree of economic policy coordination between euro area Member States. However, empirical studies have, thus far, offered...

Persistent link: https://www.econbiz.de/10008459141