Monperrus-Veroni, Paola; Saraceno, Francesco - Centre de recherche en Économie (OFCE), Sciences … - 2005
This paper aims at providing a quantitative assessment of different proposals for reforming the Stability and Growth Pact by extending a counterfactual experiment performed in Eichengreen and Wyplosz (1998). Using estimated coefficients from a reduced form model, we simulate the path of the...