The stability Pact and the coordination of fiscal policies in the EMU
AbstractThis paper studies the relationship between the Stability and Growth Pact (SGP) and the coordination of fiscal policies in the EMU. Results show that the coordination is an efficient tool to increase EMU stabilization, even though the overall impact greatly varies according to the nature of the shock that occurs. Fiscal coordination appears to be compatible with the SGP and coordination gains can actually be enhanced with the SGP. Nethertheless, results are closely related to the effects of monetary and fiscal policies on output.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 5 (2006)
Issue (Month): 9 ()
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Find related papers by JEL classification:
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Cooperative and non-cooperative fiscal stabilization policies in the EMU,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-88304, Tilburg University.
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"Cyclically adjusted budget balances: an alternative approach,"
Working Paper Series
0077, European Central Bank.
- Bouthevillain, C. & Van Den Dool, G. & Langenus, G. & Mohr, M. & Momigliano, S. & Tujula, M. & De Cos, P.H., 2001. "Cyclically Adjusted Budget Balances: an Alternative Approach," Papers 77, Quebec a Montreal - Recherche en gestion.
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- Otmar Issing, 2002. "On Macroeconomic Policy Co-ordination in EMU," Journal of Common Market Studies, Wiley Blackwell, vol. 40(2), pages 345-358, 06.
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- repec:ebl:ecbull:v:5:y:2006:i:4:p:1-8 is not listed on IDEAS
- Tamim Bayoumi & Barry Eichengreen, 1995. "Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 32-48, March.
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