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Could the Stability and Growth Pact be Substituted by the Financial Markets?
Vyprachticka, Terezie - In: European Integration online Papers (EIoP) 15 (2011) 09
In the discussions on the need for fiscal rules and their usefulness in a monetary union, researchers have not agreed if financial markets have a sufficiently disciplining effect on governments, which would mean that the fiscal rules are not necessary. This paper investigates whether the...
Persistent link: https://www.econbiz.de/10009325373
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Chasing Maastricht: The Impact of the EMU on the Fiscal Performance of Member States
Busemeyer, Marius R. - In: European Integration online Papers (EIoP) 8 (2004) 07
This paper examines the impact of the Economic and Monetary Union (EMU) on the fiscal performance of EU member states …. I will show that the process towards EMU and the accompanying Stability and Growth Pact (SGP) have increased fiscal … EMU was more severe than for the large states in the core of the EU (Germany and France). Second, as members of the EMU …
Persistent link: https://www.econbiz.de/10004969231
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Fiscal Policy Rules and the Sustainability of Public Debt in Europe
Collignon, Stefan - RECON - 2010
In this paper, the sustainability of public debt is interpreted as the result of the interaction of fiscal policy with the economic environment, and not as a statistical concept as in most of the recent literature. If debt must not explode over time, policy makers have to respond to the changing...
Persistent link: https://www.econbiz.de/10008784836
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A Question of Fit for EMU: Process and Policy in the Fiscal Domain
Ardy, Brian - One-Europe Programme - 2000
Persistent link: https://www.econbiz.de/10005754834
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Fiscal Policy in Europe: The Past and Future of EMU Rules from the Perspective of Musgrave and Buchanan
Buti, Marco; Sapir, André - C.E.P.R. Discussion Papers - 2006
another. EMU's fiscal rules - embodied in the Maastricht Treaty and the Stability and Growth Pact - can be regarded as the …
Persistent link: https://www.econbiz.de/10005791965
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The monetary framework after accession a political economy analysis of ERM2
Fölsz, Attila - In: European Integration online Papers (EIoP) 7 (2003) 03
The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …
Persistent link: https://www.econbiz.de/10004969206
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Making and Breaking the Rules: French policy on EU 'gouvernement économique' and the Stability and Growth Pact
Howarth, David J. - In: European Integration online Papers (EIoP) 9 (2005) 10
dilemma with regard to the construction of the Economic dimension of EMU between two strong preferences: on the one hand the …
Persistent link: https://www.econbiz.de/10004969258
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Zur Glaubwürdigkeit des EWU-Stabilitätspaktes Einfache Berechnungen und mehrfache Zweifel
Sutter, Matthias - In: European Integration online Papers (EIoP) 1 (1997) 07
reason for concern about the credible enforcement of the stability pact in future EMU. A game-theoretic approach supports …
Persistent link: https://www.econbiz.de/10004969290
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Strategic Interactions between Monetary and fiscal Policies : a case study for the European Stability Pact.
Creel, Jérôme - Université Paris-Dauphine
We extend the model of Leith and Wren-Lewis (2000) to the case of a monetary union. Within a two-country dynamic model with wealth private behaviours, we study the implications of stabilising public debt on monetary and fiscal policies. The model is a macroeconomic version of the Fiscal Theory...
Persistent link: https://www.econbiz.de/10008529694
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The UK and the EMU
Artis, Michael J. - Robert Schuman Centre for Advanced Studies (RSCAS), … - 2000
Persistent link: https://www.econbiz.de/10005029448