The stability Pact and the coordination of fiscal policies in the EMU
This paper studies the relationship between the Stability and Growth Pact (SGP) and the coordination of fiscal policies in the EMU. Results show that the coordination is an efficient tool to increase EMU stabilization, even though the overall impact greatly varies according to the nature of the shock that occurs. Fiscal coordination appears to be compatible with the SGP and coordination gains can actually be enhanced with the SGP. Nethertheless, results are closely related to the effects of monetary and fiscal policies on output.
Volume (Year): 5 (2006)
Issue (Month): 9 ()
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- Christophe Schalck, 2006. "EMU's Fiscal Rules and Economic Stabilization," Economics Bulletin, AccessEcon, vol. 5(4), pages 1-8.
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Working Paper Series
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"Cooperative and non-cooperative fiscal stabilization policies in the EMU,"
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Elsevier, vol. 26(3), pages 451-481, March.
- 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.
- Otmar Issing, 2002. "On Macroeconomic Policy Co-ordination in EMU," Journal of Common Market Studies, Wiley Blackwell, vol. 40(2), pages 345-358, 06.
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- repec:ebl:ecbull:v:5:y:2006:i:4:p:1-8 is not listed on IDEAS
- 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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