In order to quantitatively assess the potential effects from the ongoing transformation of the fiscal framework of the European Union, we evaluate the economic and public finance stabilization properties of two benchmark fiscal rules using a New Keynesian small open economy model. If these...

Echoes of History : The International Financial Commission in Greece / Michael Waibel -- The European Debt Crisis : How Did We Get into this Mess? How Can We Get out of it? / Michael C. Burda -- Why the Debt Crisis Led to a Systemic Crisis and How to Escape from it / Ernst-Moritz Lipp -- Legal...