Fiscal rules are instrumental for restraining deficit and spending biases in euro area Member States that could threaten the smooth functioning of Economic and Monetary Union (EMU). Ideally, fiscal rules should combine characteristics such as sufficient flexibility to allow for appropriate...

This paper examines the role of government wages in ensuring macroeconomic stability and competitiveness in the euro area. Recent empirical evidence suggests that government wage expenditure is subject to a pro-cyclical bias in most euro area countries and at the euro area aggregate level....

This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous...

The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances, while the Stability and Growth Pact was watered...

This publication explores some of the issues surrounding the financial services negotiations, analyzes what is at stake, and assesses what WTO members have already achieved in previous negotiations.

Cette publication porte sur certaines des questions soulevées dans les négociations sur les services financiers; les auteurs analysent les enjeux et évaluent les résultats obtenus par les Membres de l'OMC dans des négociations antérieures.

En un estudio llevado a cabo por economistas de la Secretaría de la OMC se analizan los beneficios y problemas relacionados con la liberalización del comercio de servicios financieros, tanto en los países en desarrollo como en las naciones desarrolladas. En el estudio se pone de relieve la...

The study was written as a means of providing background information for the 132 WTO members who are now developing policy responses to this new form of commerce. Written by a team of economists from the WTO Secretariat, it identifies the complexities as well as the potential benefits of trade...

Elle a pour but de donner des informations de base aux Membres de l'OMC qui sont en train de définir la ligne de conduite à adopter face à cette nouvelle forme d'échanges. Rédigée par une équipe d'économistes du Secrétariat de l'OMC, elle décrit la complexité ainsi que les avantages...

Un estudio efectuado por la Secretaría de la OMC, El comercio electrónico y el papel de la OMC, analiza los beneficios que la utilización de Internet para fines comerciales puede suponer para el comercio en general. El informe, obra de un equipo de economistas de la Secretaría de la OMC,...