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Fiscal Policy and Macroeconomic Stabilisation in the Euro Area: Possible Reforms of the Stability and Growth Pact and National Decision-Making-Processes

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Author Info
Lars Calmfors
Giancarlo Corsetti
John Flemming
Seppo Honkapohja
John Kay
Willi Leibfritz
Gilles Saint-Paul
Hans-Werner Sinn ()
Xavier Vives

Additional information is available for the following registered author(s):

Abstract

This chapter analyses the role of fiscal policy as a tool of macroeconomic stabilisation and proposes changes in the EU fiscal rules with the aim of making them more flexible while at the same time maintaining fiscal discipline.

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File URL: http://www.cesifo-group.de/DocCIDL/forumspecial_chap2_2003.pdf
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Publisher Info
Article provided by CESifo Group Munich in its journal EEAG Report on the European Economy.

Volume (Year): (2003)
Issue (Month): (05)
Pages: 46-75
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ces:eeagre:v::y:2003:i::p:46-75

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  1. Uhlig, Harald, 2002. "One Money, but Many Fiscal Policies in Europe: What Are the Consequences?," CEPR Discussion Papers 3296, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Wren-Lewis, Simon, 2000. "The Limits to Discretionary Fiscal Stabilization Policy," Oxford Review of Economic Policy, Oxford University Press, vol. 16(4), pages 92-105, Winter.
  3. Alberto Alesina & Roberto Perotti, 1995. "Fiscal Expansions and Fiscal Adjustments in OECD Countries," NBER Working Papers 5214, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Bordo, Michael D & Jeanne, Olivier, 2002. "Boom-Busts in Asset Prices, Economic Instability and Monetary Policy," CEPR Discussion Papers 3398, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  5. George Kopits & Steven A. Symansky, 1998. "Fiscal Policy Rules," IMF Occasional Papers 162, International Monetary Fund.
  6. Calmfors, L. & Nymoen, R., 1990. "Real Wage Adjustment And Employment Policies In The Nordic Countries," Papers 461, Stockholm - International Economic Studies.
  7. Laurence Seidman, 2001. "Reviving Fiscal Policy," Challenge, M.E. Sharpe, Inc., vol. 44(3), pages 17-42, May. [Downloadable!] (restricted)
  8. Fatas, Antonio & Mihov, Ilian, 2001. "Government size and automatic stabilizers: international and intranational evidence," Journal of International Economics, Elsevier, vol. 55(1), pages 3-28, October. [Downloadable!] (restricted)
    Other versions:
  9. Balassone, F. & Manacelli, D., 2000. "Emu Fiscal Rules: is There a Gap?," Papers 375, Banca Italia - Servizio di Studi.
    Other versions:
  10. Buti, Marco & Eijffinger, Sylvester C W & Franco, Daniele, 2003. "Revisiting the Stability and Growth Pact: Grand Design or Internal Adjustment?," CEPR Discussion Papers 3692, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  11. John B. Taylor, 2000. "Reassessing Discretionary Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 21-36, Summer. [Downloadable!] (restricted)
  12. Michael Kell, 2001. "An Assessment of Fiscal Rules in the United Kingdom," IMF Working Papers 01/91, International Monetary Fund. [Downloadable!]
  13. Willi Leibfritz & Deborah Roseveare & Paul van den Noord, 1994. "Fiscal Policy, Government Debt and Economic Performance," OECD Economics Department Working Papers 144, OECD, Economics Department. [Downloadable!]
  14. Calmfors, Lars, 1998. "Macroeconomic Policy, Wage Setting and Employment - What Difference Does the EMU Make?," Seminar Papers 657, Stockholm University, Institute for International Economic Studies. [Downloadable!]
  15. Barry Eichengreen & Ricardo Hausmann & Jürgen Von Hagen, 1999. "Reforming Budgetary Institutions in Latin America: The Case for a National Fiscal Council," Open Economies Review, Springer, vol. 10(4), pages 415-442, October. [Downloadable!] (restricted)
  16. Johansson, Åsa, 2002. "The Interaction Between Labor Market Policy and Monetary Policy: An Analysis of Time Inconsistency Problems," Seminar Papers 708, Stockholm University, Institute for International Economic Studies. [Downloadable!]
  17. Alesina, A. & Perotti, R., 1995. "Fiscal Expansions and Adjustments in OECD Countries," Discussion Papers 1995_25, Columbia University, Department of Economics.
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