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Emu Fiscal Rules: is There a Gap?

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Author Info

  • Balassone, F.
  • Manacelli, D.

Abstract

The Stability and Growth Pact sets a medium-term target for fiscal policy of a budgetary position "close to balance of in surplus". This addition to the deficit rule defined by the Maastricht Treaty has been interpreted as an attempt to reconcile the objective of sound public finances with the availability of adequate margins for stabilisation.

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Bibliographic Info

Paper provided by Banca Italia - Servizio di Studi in its series Papers with number 375.

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Length: 29 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:fth:banita:375

Contact details of provider:
Postal: Banca d'Italia-Servizio Studi-Divisione Biblioteca e Pubblicazioni - Via N azionale, 91 -00184 Rome, Italy.
Web page: http://www.bancaditalia.it/
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Related research

Keywords: FISCAL POLICY ; ECONOMIC GROWTH ; DEBT ; ACCOUNTING;

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References

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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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  1. Francesco Lippi, 1999. "Median Voter Preferences, Central Bank Independence and Conservatism," Temi di discussione (Economic working papers) 351, Bank of Italy, Economic Research and International Relations Area.
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Citations

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Cited by:
  1. Buti, M. & Eijffinger, S.C.W. & Franco, D., 2003. "Revisiting the stability and growth pact: Grand design or internal adjustment?," Open Access publications from Tilburg University urn:nbn:nl:ui:12-152958, Tilburg University.
  2. Andrei Radulescu, 2013. "The impact of the Great Recession on the Romanian economy," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 16(47), pages 75-90, March.
  3. Buti, Marco & Martins, Joao Nogueira & Turrini, Alessandro Antonio, 2006. "From Deficits to Debt and Back: Political Incentives under Numerical Fiscal Rules," CEPR Discussion Papers 5809, C.E.P.R. Discussion Papers.
  4. Marattin, Luigi, 2007. "Private and public consumption and counter-cyclical fiscal policy," MPRA Paper 9493, University Library of Munich, Germany, revised Dec 2007.
  5. Lars Calmfors & Giancarlo Corsetti & John Flemming & Seppo Honkapohja & John Kay & Willi Leibfritz & Gilles Saint-Paul & Hans-Werner Sinn & Xavier Vives, 2003. "Fiscal Policy and Macroeconomic Stabilisation in the Euro Area: Possible Reforms of the Stability and Growth Pact and National Decision-Making-Processes," EEAG Report on the European Economy, CESifo Group Munich, vol. 0, pages 46-75, 05.
  6. repec:spo:wpecon:info:hdl:2441/2545 is not listed on IDEAS
  7. Cronin, David & Daniel McCoy,, 2000. "Fiscal Sustainability When Time is on Your Side," Research Technical Papers 4/RT/00, Central Bank of Ireland.
  8. Mackiewicz, Michał, 2005. "Making The Stability Pact More Flexible: Can It Lead to Procyclical Fiscal Policies?," MPRA Paper 16033, University Library of Munich, Germany.
  9. Paola Veroni, 2001. "Dix ans de politique budgétaire au service de l’euro : l’exemple italien," Sciences Po publications info:hdl:2441/2545, Sciences Po.
  10. cipollone piero, 2001. "Is the Italian Labour market segmented?," Temi di discussione (Economic working papers) 400, Bank of Italy, Economic Research and International Relations Area.

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