Sound public finances are necessary for the functioning and economic prosperity of a common currency union. The financial, economic and European sovereign debt crises revealed that financial stability and economic growth also serve as prerequisites and that all three interact in this respect....

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

Durch die Versteigerung der UMTS-Lizenzen erhielt die Bundeskasse unerwartete Mehreinnahmen von knapp 100 Mrd. DM. Diese Erlöse sollen zur Schuldentilgung verwendet, die dadurch einsparten Zinszahlungen des Bundes in Höhe von jährlich 5 Mrd. DM in Forschung, Bildung, Verkehr und...

In Ergänzung zu den Beiträgen im ifo Schnelldienst 3/2012 kommentieren Christian Kastrop, Ludger Schuknecht und Carsten Zinkan, Bundesministerium der Finanzen, die Beschlüsse der EU-Gipfel vom Dezember 2011 und Januar 2012. Sie sind der Auffassung, dass insgesamt die Grundlagen für eine...

We argue in the present paper that the Stability and Growth Pact and its application can be improved, taking into account the experience gained during the last years. The reform debate should focus on the fundamental economic rationale and the initial orientation of the Pact. It puts more weight...