This article presents a survey of the Fiscal Theory of the Price Level. According to it, there are two stable regimes of economic policies: one, traditional, where the monetary authorities control inflation and where the fiscal authorities must be concerned with their intertemporal balance. The...

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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...

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Since 1995, French governments implemented a specific strategy aiming at lowering unemployment or inactivity of so called unskilled workers, in fact of low wage workers. This strategy used two tools: cuts in employers’ social contributions reduce companies’ costs for hiring low-wage workers;...

As sociedades europeias são baseadas num compromisso entre, por um lado, o capitalismo, a propriedade privada e as forças do mercado e, por outro, o socialismo, a redistribuição e a produção pública. Uma parte importante das despesas das famílias é pública (educação, saúde); certos...

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