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Multilateral surveillance in the Stability and Growth Pact: an analysis through information sharing

Author

Listed:
  • Montserrat Ferré

    (Universidad Rovira i Virgili)

Abstract

In this article we use the concept of information sharing from oligopolistic games to analyse the multilateral surveillance of budget positions introduced with the Stability and Growth Pact. In a game between one monetary authority and various fiscal authorities, we will show that the multilateral surveillance does not lead to closer to target average budget deficits compared to a benchmark case of no surveillance.

Suggested Citation

  • Montserrat Ferré, 2004. "Multilateral surveillance in the Stability and Growth Pact: an analysis through information sharing," Economics Bulletin, AccessEcon, vol. 5(15), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-04e60006
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    References listed on IDEAS

    as
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    More about this item

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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