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The path to the reformed EU fiscal framework : a monetary policy perspective

Haroutunian, Stephan; Bańkowski, Krzysztof; Bischl, Simeon - 2024

This paper reviews the main arguments underpinning the reform of the EU's fiscal framework, which has culminated in the adoption by the EU legislators of a revised set of rules for the European economic governance including the Stability and Growth Pact (SGP). It takes a chronological approach...

Persistent link: https://www.econbiz.de/10014533774

The Economic and Monetary Union : Current and Future Prospects

Arestis, Philip; Sawyer, Malcolm C. - 2000

The euro was adopted as legal tender, albeit in a virtual form, by 11 countries of the European Union on January 1, 1999, with the intention that notes and coins denominated in euros would be introduced and the national currencies would be phased out during the first six months of that year and...

Persistent link: https://www.econbiz.de/10014177152

A Strategy for EMU Enlargement

Dabrowski, Marek - 2009

recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and … current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic … credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the …

Persistent link: https://www.econbiz.de/10014212729

An Alternative Stability Pact for the European Union

Arestis, Philip; McCauley, Kevin; Sawyer, Malcolm C. - 2000

This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a "single market" within the EU. The alternative pact embraces a number of new aspects of integration within the EU that are based on a...

Persistent link: https://www.econbiz.de/10014162532

Co-Ordinating Fiscal Authorities in the Euro-Zone. A Key Role for the ECB

Gatti, Donatella; van Wijnbergen, Christa - 2007

This paper examines the conditions for fiscal restraint to emerge as Nash equilibrium in the game between fiscal authorities in a monetary union and discusses the implications for the ECB's monetary strategy. We show that fiscal authorities fail to internalize the adverse area-wide effects of...

Persistent link: https://www.econbiz.de/10014136649

Commentary. An Alternative Stability Pact for the European Union

Arestis, Philip; McCauley, Kevin; Sawyer, Malcolm C. - 2001

This paper proposes an alternative stability and growth pact to the one which accompanied the introduction of the euro in January 1999. The latter is part of the third stage of economic and monetary union and, will govern the economic policies of the member countries which have joined the single...

Persistent link: https://www.econbiz.de/10014140127

Macroeconomic policy in the European monetary union : from the old to the new stability and growth pact

Farina, Francesco (contributor); … - 2008

Persistent link: https://www.econbiz.de/10014499961

Fiscal Policy in the European Monetary Union

Daniel, Betty C.; Shiamptanis, Christos - 2009

A country entering the EMU surrenders its monetary policy, and its debt becomes denominated in terms of a currency over which it has no direct control. A country's promise to uphold the fiscal limits in the Maastricht Treaty and the Stability and Growth Pact is implicitly a promise not to allow...

Persistent link: https://www.econbiz.de/10014210990

The stability pack and inefficiencies in fiscal policy making in EMU

Alho, Kari E. O. - 2000

The aim of the paper is to analyse the Stability and Growth Pact of EMU in a two-country model of monetary union with rational expectations and with spillovers of macroeconomic policies between the countries. The paper concentrates on tax policy, and shows that the results on optimal policy...

Persistent link: https://www.econbiz.de/10010199298

Why 3 and 60 per cent? : the rationale of the reference values for fiscal deficits and debt in the European Economic and Monetary Union

Priewe, Jan - In: European journal of economics and economic policies : … 17 (2020) 2, pp. 111-126

Persistent link: https://www.econbiz.de/10012321766