Fiscal policy in EMU has to be evaluated in the light of the changing nature of capital mobility in Europe and its effects on growth. Most arguments about the effects of fiscal policy in EMU assume that we live in a perfect competition world with a unique natural rate of output for each country....

We assess fiscal policy from the perspective of fairness between generations and the relationship between this and national saving, in the context where the United Kingdom is one of the lowest saving of all the OECD economies. Cross-section and pooled data suggest that governments are in a...

Fiscal and monetary policy frameworks have become increasingly popular as disenchantment with active stabilization policy has increased. Frameworks need to be designed to achieve targets efficiently and stabilize the volatility of the economy. The current fiscal and monetary frameworks in the UK...