Chevillon, Guillaume - In: Revue de l'OFCE 93 (2005) 2, pp. 177-198
In 2004 fiscal policy has reversed its course turning to neutrality in the euro area, thus resulting in a deterioration of the government deficit to 2.9% of GDP and in the breaching of the 3% limit of the Stability and Growth Pact (SGP) by France, Germany, Italy and Greece. Founded on a...