EMU's Fiscal Rules and Economic Stabilization
This paper proposes a quantitative comparison of EMU's different fiscal rules, i.e., the stability and growth Pact, the structural deficit rule and the golden rule. From comparing the economic stabilizing effects of each rule, it concludes that the Pact is not the perfect solution.
Volume (Year): 5 (2006)
Issue (Month): 4 ()
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References listed on IDEAS
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- Jérôme Creel, 2003.
"Ranking Fiscal Policy Rules: the Golden Rule of Public Finance vs. the Stability and Growth Pact,"
- Jerome Creel, 2003. "Ranking Fiscal Policy Rules: the Golden Rule of Public Finance vs. the Stability and Growth Pact," Documents de Travail de l'OFCE 2003-04, Observatoire Francais des Conjonctures Economiques (OFCE).
- Jérôme Creel, 2003. "Ranking Fiscal Policy Rules: the Golden Rule of Public Finance vs. the Stability and Growth Pact," Sciences Po publications 2003-04, Sciences Po.
- Engwerda, J.C. & van Aarle, B. & Plasmans, J.E.J., 2002.
"Cooperative and non-cooperative fiscal stabilization policies in the EMU,"
Other publications TiSEM
2cc19f3f-16ad-4fed-a701-5, Tilburg University, School of Economics and Management.
- Engwerda, Jacob C. & van Aarle, Bas & Plasmans, Joseph E. J., 2002. "Cooperative and non-cooperative fiscal stabilization policies in the EMU," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 451-481, March.
- Gert Peersman & Frank Smets, 2005.
"The Industry Effects of Monetary Policy in the Euro Area,"
Royal Economic Society, vol. 115(503), pages 319-342, 04.
- Peersman, Gert & Smets, Frank, 2002. "The industry effects of monetary policy in the euro area," Working Paper Series 0165, European Central Bank.
- Otmar Issing, 2002. "On Macroeconomic Policy Co-ordination in EMU," Journal of Common Market Studies, Wiley Blackwell, vol. 40(2), pages 345-358, 06.
- Bouthevillain, Carine & Cour-Thimann, Philippine & van de Dool, Gerrit & Hernández de Cos, Pablo & Langenus, Geert & Mohr, Matthias & Momigliano, Sandro & Tujula, Mika, 2001.
"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. & Cour-Thimann, Philippine, 2001. "Cyclically Adjusted Budget Balances: an Alternative Approach," Papers 77, Quebec a Montreal - Recherche en gestion.
- Leith, Campbell & Wren-Lewis, Simon, 2000. "Interactions between Monetary and Fiscal Policy Rules," Economic Journal, Royal Economic Society, vol. 110(462), pages C93-108, March.
- Marco Buti & Carlos Martinez-Mongay & Khalid Sekkat & Paul van den Noord, 2002. "Automatic Stabilisers and Market Flexibility in EMU: Is There A Trade-Off?," OECD Economics Department Working Papers 335, OECD Publishing.
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