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Le projet de Constitution européenne et la coordination des politiques économiques

Listed author(s):
  • Jérôme Creel

The Draft Constitution was rejected in December 2003 for political reasons and without any discussion on its economic policies? contents. No reform proposal on the design of fiscal policies in the EU was even mentioned, nor reform proposal of the statutes of the ESCB. Hence, the Stability and Growth Pact remains the cornerstone of European fiscal policies. Unfortunately, not enforced, it lacks credibility. In the paper, the institutional framework of European fiscal policies is thoroughly discussed. The Draft status quo is given a critical assessment. The article then turns towards the advantages of a better coordination of economic policies, be they only fiscal or monetary and fiscal policies. Last, the ?golden rule of public finances? is showed to incorporate properties which might make up for the absence of ?ex ante coordination? within the EU.

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Article provided by Presses de Sciences-Po in its journal Revue de l'OFCE.

Volume (Year): 88 (2004)
Issue (Month): 1 ()
Pages: 119-150

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Handle: RePEc:cai:reofsp:reof_088_0119
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  1. Fabrizio Balassone & Daniele Franco, 2000. "Public investment, the Stability Pact and the ‘golden rule’," Fiscal Studies, Institute for Fiscal Studies, vol. 21(2), pages 207-229, June.
  2. Michael Keith Anyadike-Danes, 1985. "Déficit budgétaire, solde extérieur et politique macroéconomique : un modèle simple appliqué à la France," Revue de l'OFCE, Programme National Persée, vol. 11(1), pages 153-175.
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