Similar Search Results

Artis, Michael J; Onorante, Luca - C.E.P.R. Discussion Papers - 2006

The paper provides an assessment of the effect of the recent revision of the Stability and Growth Pact (SGP) on the European economies. A set of structural VARs, one for each Eurozone country, is estimated. The estimated models are then used to assess the possible effect of alternative sets of...

Persistent link: https://www.econbiz.de/10005667064

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

101 proposals to reform the Stability and Growth Pact. Why so many? A survey.

Larch, Martin; Jonung, Lars; Fischer, Jonas - Volkswirtschaftliche Fakultät, … - 2008

Monetary Union (EMU). This paper analyzes 101 reform proposals presented by professional academic and non-academic economists …

Persistent link: https://www.econbiz.de/10008596420

The European Stability Pact and Feedback Policy Effects

Creel, Jérôme - In: Journal of Economic Integration 17 (2002), pp. 570-595

With a two-country dynamic model in a monetary union with wealth private behaviors, we study the implications of public debt on monetary and fiscal policies. The model used has Keynesian features in the short run and Wicksellian ones in the long run. We analyse the effects of asymmetric fiscal...

Persistent link: https://www.econbiz.de/10010840696

Is Europe going far enough? Reflections on the Stability and Growth Pact, the Lisbon strategy and the EUÕs economic governance

Collignon, Stefan - In: European Political Economy Review 1 (2003) Autumn, pp. 222-247

EuropeÕs economic governance is not only highly complex, but also increasingly inefficient and unsustainable in the long run. This conclusion is reached from the theory of collective action and the difficulties in democratic legitimacy. The solution would be the creation of a European...

Persistent link: https://www.econbiz.de/10005125208

Compatibility Between Monetary and Fiscal Policy Under EMU

leith, Campbell; Wren-Lewis, Simon - Department of Economics, Adam Smith Business School

The potential importance of fiscal policy in influencing inflation has recently been highlighted, following Woodford (1998), under the heading of the ‘Fiscal Theory of the Price Level’ (FTPL). Some authors have suggested that this theory provides a rationale for the Pact for Stability and...

Persistent link: https://www.econbiz.de/10005729948

Fiscal and monetary policy in Belgium, France, Germany, Luxembourg, and The Netherlands

Fahrholz, Christian; Mohl, Philipp - 2003

(part II) of Benelux, France and Germany (EMU-5) covering the period of 1997-2004. The fiscal policy part concentrates on … monetary policy affairs, the heterogeneity of EMU-5 members is surveyed. The brief analysis of two main aspects of the monetary …

Persistent link: https://www.econbiz.de/10010331064

Final report: monetary and fiscal policy

Zukrowska, Katarzyna; Sobczak, Dominik; Marzo, Massimiliano - 2003

This report reflects on recent trends in fiscal and monetary policies at the onset of EU-enlargement. Particularly, the authors focus on necessary adjustment processes for future EU-members. How to smooth best the transition period between normal EU-accession and eventual participation in the...

Persistent link: https://www.econbiz.de/10010266838

Fiscal and monetary interaction : the role of asymmetries of the stability and growth pact in EMU

Governatori, Matteo; Eijffinger, Sylvester C. W. - 2004

policy, where the main features characterising the policy-making are similar to those in EMU. National governments choose the …

Persistent link: https://www.econbiz.de/10010272870

Analysis of Fiscal Rules in the European Monetary Union

Šehović, Damir - In: Journal of Central Banking Theory and Practice 4 (2015) 1, pp. 19-33

The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific … features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common … internal market. Finally, the third segment refers to the fiscal policy coordination of the EMU member states related to …

Persistent link: https://www.econbiz.de/10012217803