Ten years on from its launch, it is clear that EMU, which has to be regarded as a more profound regime change than is … policy, EMU has had undoubted successes in assuring price stability and in instilling greater fiscal discipline, yet it is … compromises made at the outset and over the twenty years since the roadmap for EMU was first set out, notably to reconcile …

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 …

wage taxes) and can be used to analyse the effectiveness of stabilisation policies. To capture the unit root character of …

transfers, and makes fiscal policy a more powerful tool for short run stabilisation. Fiscal policy is more effective when credit …

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 …