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The maastricht fiscal criteria: Required but ineffective?

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  • Robert Holzmann
  • Yves Hervé
  • Roland Demmel

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  • Robert Holzmann & Yves Hervé & Roland Demmel, 1996. "The maastricht fiscal criteria: Required but ineffective?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(1), pages 25-58, February.
  • Handle: RePEc:kap:empiri:v:23:y:1996:i:1:p:25-58
    DOI: 10.1007/BF00925007
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    References listed on IDEAS

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    1. Bayoumi, Tamim A. & Rose, Andrew K., 1993. "Domestic savings and intra-national capital flows," European Economic Review, Elsevier, vol. 37(6), pages 1197-1202, August.
    2. Christopher M. Towe, 1991. "The Budgetary Control and Fiscal Impact of Government Contingent Liabilities," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 109-134, March.
    3. Bernd Genser & Andreas Haufler, 1996. "Tax competition, tax coordination and tax harmonization: The effects of EMU," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(1), pages 59-89, February.
    4. Giovannini, A. & Spaventa, L., 1990. "Fiscal Rules in the Europen Monetary Union: A No-Entry Clause," Papers 8, Roma "la Sapienza" - Scienze Economiche.
    5. Ford, Robert & Laxton, Douglas, 1999. "World Public Debt and Real Interest Rates," Oxford Review of Economic Policy, Oxford University Press, vol. 15(2), pages 77-94, Summer.
    6. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    7. Tamim Bayoumi, 1994. "A Formal Model of Optimum Currency Areas," IMF Staff Papers, Palgrave Macmillan, vol. 41(4), pages 537-554, December.
    8. Buiter, W.H. & Corsetti, G. & Roubini, N., 1992. "Excessive Deficits: Sense and Nonsence in the Treaty of Maastricht," Papers 674, Yale - Economic Growth Center.
    9. Frenkel, Jacob A & Razin, Assaf, 1986. "Fiscal Policies in the World Economy," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 564-594, June.
    10. Buiter, Willem H. & Kletzer, Kenneth, 1990. "Reflections on the Fiscal Implications of a Common Currency," CEPR Discussion Papers 418, C.E.P.R. Discussion Papers.
    11. Barry Eichengreen & Jürgen Hagen, 1996. "Fiscal restrictions and monetary union: Rationales, repercussions, reforms," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(1), pages 3-23, February.
    12. Robert Holzmann & Christian Thimann & Angela Petz, 1994. "Pressure to Adjust: Consequences for the OECD Countries from Reforms in Eastern Europe," International Trade 9403001, EconWPA.
    13. Bayoumi, Tamim & Eichengreen, Barry, 1994. "Restraining Yourself: Fiscal Rules and Stabilization," CEPR Discussion Papers 1029, C.E.P.R. Discussion Papers.
    14. Domenico Fanizza & Vito Tanzi, 1995. "Fiscal Deficit and Public Debt in Industrial Countries, 1970-1994," IMF Working Papers 95/49, International Monetary Fund.
    15. De Grauwe, Paul, 1995. "Alternative strategies towards monetary union," European Economic Review, Elsevier, vol. 39(3-4), pages 483-491, April.
    16. Bayoumi, Tamim & Goldstein, Morris & Woglom, Geoffrey, 1995. "Do Credit Markets Discipline Sovereign Borrowers? Evidence from US States," CEPR Discussion Papers 1088, C.E.P.R. Discussion Papers.
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    Cited by:

    1. Arne Heise, 2002. "Optimal Public Debts, Sustainable Deficits, and Budgetary Consolidation," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 29(4), pages 319-337, December.
    2. Țibulcă Ioana Laura, 2015. "Does Fiscal Convergence Lead to tax Convergence? Evidence from the Eurozone," Scientific Annals of Economics and Business, Sciendo, vol. 62(s1), pages 1-9, October.
    3. Barry Eichengreen & Jürgen Hagen, 1996. "Fiscal restrictions and monetary union: Rationales, repercussions, reforms," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(1), pages 3-23, February.
    4. Pierre-Yves Hénin, 1997. "Soutenabilité des déficits et ajustements budgétaires," Revue Économique, Programme National Persée, vol. 48(3), pages 371-395.
    5. Thomas Uril, 2001. "Avoiding excessive deficits with fiscal coordination light," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 36(6), pages 281-285, November.
    6. R. Berndsen, 1997. "The EMU debt criterion: an interpretation," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 50(203), pages 505-533.
    7. Kleczka, Mitja, 2015. "Monetary Policy, Fiscal Policy, and Secular Stagnation at the Zero Lower Bound. A View on the Eurozone," MPRA Paper 67228, University Library of Munich, Germany.
    8. Kocenda, Evzen & Kutan, Ali M. & Yigit, Taner M., 2008. "Fiscal convergence in the European Union," The North American Journal of Economics and Finance, Elsevier, vol. 19(3), pages 319-330, December.
    9. Richard Hule & Matthias Sutter, 2003. "Can the Stability and Growth Pact in EMU Cause Budget Deficit Cycles?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(1), pages 25-38, March.
    10. Renate Ohr & André Schmidt, 2006. "Handelbare Verschuldungsrechte zur Sicherung fiskalischer Stabilität in der Währungsunion?," Departmental Discussion Papers 128, University of Goettingen, Department of Economics.
    11. Schmidt, André, 2011. "Fiskalische Stabilität in einer Währungsunion," Wittener Diskussionspapiere zu alten und neuen Fragen der Wirtschaftswissenschaft 13/2011, Witten/Herdecke University, Faculty of Management and Economics.
    12. William Easterly, 1999. "When is fiscal adjustment an illusion?," Economic Policy, CEPR;CES;MSH, vol. 14(28), pages 55-86, April.

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    Keywords

    EMU; Maastricht Treaty; fiscal criteria;

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