For over fifty years, Eli Schwartz has inspired generations of students and economists through his many publications and dedication to teaching. In 2008, the Martindale Center for the Study of Private Enterprise at Lehigh University invited prominent academics and practitioners--including Nobel...

This paper deals with alternative approaches for deriving adequate budgetary safety margins. We highlight some critical features of the existing EU Commission's methodology and propose an alternative method for assessing the minimal benchmark, i.e. the value of the deficit-to-GDP ratio that...