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The end of stability and growth pact?
de Haan, Jakob; Berger, Helge; Jansen, David-Jan - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10009323164
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The end of stability and growth pact?
de Haan, Jakob; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10010306526
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The End of the Stability and Growth Pact?
de Haan, Jakob; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10010315860
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The End of the Stability and Growth Pact?
Haan, Jakob de; Berger, Helge; Jansen, David-Jan - CESifo - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10005406264
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The end of the stability and growth pact?
Haan, Jakob de; Berger, Helge; Jansen, David-Jan - 2003
This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the...
Persistent link: https://www.econbiz.de/10011404430
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A simple and flexible alternative to Stability and Growth Pact deficit ceilings. Is it at hand?
Muscatelli, Vito A.; Natale, Piergiovanna; Tirelli, Patrizio - In: European Journal of Political Economy 28 (2012) 1, pp. 14-26
We model a monetary union where fiscal discretion generates excessive debt accumulation in steady state and inefficiently delayed debt adjustment following shocks. By setting a debt target and raising the political cost of deviating from the optimal pace of debt reversal¸ institutional design...
Persistent link: https://www.econbiz.de/10011056280
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Patching up the Pact: some Suggestions for Enhancing Fiscal Sustainability and Macroeconomic Stability in an Enlarged European Union
Buiter, Willem H.; Grafe, Clemens - C.E.P.R. Discussion Papers - 2002
The paper considers the implications for the EU accession candidates of Central and Eastern Europe of the fiscal-financial constraints imposed by the Stability and Growth Pact and the Maastricht Treaty. Our findings apply also to those current EU members whose initial conditions (e.g....
Persistent link: https://www.econbiz.de/10005792378
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Stability and Growth Pact: An Index to Trigger an Early Warning Earlier?
Warin, Thierry - 2005
This paper addresses the question of a technical change in one the components of the Stability and Grown Pact (SGP). Indeed, the SGP is composed of (1) a political commitment, (2) a preventive element, and (3) a dissuasive element, and an improvement of the SGP efficacy can come from any of...
Persistent link: https://www.econbiz.de/10005417037
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A Scheme to Coordinate Monetary and Fiscal Policies in the Euro Area
Suàrez, Marta Vàzquez; Panico, Carlo - Political Economy Research Institute (PERI), University … - 2007
The paper deals with the problems of coordination between monetary and fiscal policies in the Euro area. It examines how the existing institutions handle these problems and presents a proposal to reorganize them. The paper points out that, contrary to what is often stated by the literature,...
Persistent link: https://www.econbiz.de/10005086246
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Transition Issues for the European Monetary Union
Buiter, Willem H.; Sibert, Anne - C.E.P.R. Discussion Papers - 1997
If Stage Three of EMU starts on 1 January 1999, transition issues remain on two time scales. Until 1 July 2002 …, national currencies and the euro coexist as legal tender. We argue that intra-EMU currency risk exists in principle during that … period, but that no EMU member can be forced out through speculative attacks. Cohabitation of Ins and Outs has an open …
Persistent link: https://www.econbiz.de/10005114259