Patsoulis, Patroklos; Psychalis, Marios; … - In: Journal of risk and financial management : JRFM 15 (2022) 12, pp. 1-12
This paper discusses the future of the Stability and Growth Pact (hereafter SGP). Although Neoclassical economic models argue that strict fiscal and monetary rules minimize moral hazard and crowding out, in practice many governments adopt fiscal expansion (in recent years in the form of...
