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Proceedings from the ECFIN Workshop "The budgetary implications of structural reforms" - Brussels, 2 December 2005

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  • S. Deroose
  • E. Flores
  • A. Turrini

Abstract

Most of the reforms discussed within the framework of the Lisbon strategy will benefit public finances in the long term. However, in the short-term, there could a trade-off between some structural reforms and budgetary discipline. This possible tension between reforms and fiscal discipline was identified by academic economists as a possible drawback of the Stability and Growth Pact since its inception.

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File URL: http://ec.europa.eu/economy_finance/publications/publication737_en.pdf
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Bibliographic Info

Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 248.

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Length: 212 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:euf:ecopap:0248

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Keywords: budgetary discipline; Stability and Growth Pact; Lisbon strategy; fiscal discipline; Deroose; Flores; Turrini;

References

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  12. Poplawski Ribeiro, Marcos & Beetsma, Roel, 2008. "The political economy of structural reforms under a deficit restriction," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 179-198, March.
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  14. Mike Kennedy & Torsten Sløk, 2005. "Structural Policy Reforms and External Imbalances," OECD Economics Department Working Papers 415, OECD Publishing.
  15. Romain Duval, 2003. "Retirement Behaviour in OECD Countries: Impact of Old-Age Pension Schemes and other Social Transfer Programmes," OECD Economic Studies, OECD Publishing, vol. 2003(2), pages 7-50.
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