Depuis le lancement de l’euro, les économies de la zone euro ont connu des disparités persistantes et souvent croissantes. Ces disparités sont sources de tensions en Europe ; elles rendent difficile la mise en oeuvre de politiques économiques communes, tant structurelles que...

The New Member States (NMS) have to comply with the Stability and Growth Pact (SGP) rules: public deficits below 3% of GDP and public debts below 60% of GDP, although they cannot be subject to fines as long as they are not members of the euro area. Most of the NMS currently run higher than 3% of...

Introduction du numéro spécial de la Revue de l'Ofce consacré à "La zone Euro en crise".

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The public finances crisis has brought binding fiscal rules proposals back to the forefront. The paper analyses their justifications and specifications, either in a classical or in a Keynesian framework. In the recent period there is no evidence that public deficits were caused by fiscal...

The public finances crisis has brought binding fiscal rules proposals back to the forefront. The paper analyses their justifications and specifications, either in a classical or in a Keynesian framework. In the recent period there is no evidence that public deficits were caused by fiscal...

‘Social Europe’ has various meanings. It may refer to the current intervention of European authorities in the fields of social protection and employment legislation, as a complement or sometimes as a substitute to national institutions interventions. The role of European authorities is...

À la fin de l’année 2009, la quasi-totalité des pays de l’OCDE connaîtront des déficits publics élevés et de fortes hausses de leurs dettes publiques. Faut-il rapidement réduire les dépenses publiques et augmenter les impôts pour restaurer une situation soutenable des finances...

The economic crisis which started in 2008 led to a strong rise in public debts. The sovereign debt crisis in euro area southern countries breached the unity of the euro area and weakened the ‘single currency’ concept. The paper shows that this situation is not due to a lack of fiscal...