Buti, Marco; Eijffinger, Sylvester C W; Franco, Daniele - C.E.P.R. Discussion Papers - 2003
The Stability and Growth Pact is under fire. Problems have appeared in sticking to the rules. Proposals to reform the Pact or ditch it altogether abound. But is the Pact a flawed fiscal rule? Against established criteria for an ideal fiscal rule, its design and compliance mechanisms fare...