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Institutionelle Alternativen in der Europäischen Union: Das Beispiel des Stabilitäts- und Wachstumspaktes

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  • Ohr Renate
  • Schmidt André

    (Universität Göttingen, Volkswirtschaftliches Seminar, Platz der Göttinger Sieben 3, 37073 Göttingen)

Abstract

The Stability and Growth Pact is one of the constituent pillars of the European Monetary Union. Though, meanwhile it is obvious that it will not be able to limit fiscal deficits of the member states. For this reason in this paper Coase′s thinking in institutional alternatives is applied to find a better way to increase the incentives for more fiscal stability. We present and discuss tradable deficit permits comprising market-orientated incentives for fiscal stability. It is shown that tradable deficit permits are superior from a politico-economical view as well as with regard to allocative efficiency.

Suggested Citation

  • Ohr Renate & Schmidt André, 2006. "Institutionelle Alternativen in der Europäischen Union: Das Beispiel des Stabilitäts- und Wachstumspaktes," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 55(2), pages 127-149, August.
    • Handle: RePEc:lus:zwipol:v:55:y:2006:i:2:p:127-149:n:2
    DOI: 10.1515/zfwp-2006-0202
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    Cited by:

    1. Charles B. Blankart & Erik R. Fasten & Jörn Axel Kämmerer & Hans-Bernd Schäfer & Jörg Asmussen & Christian Tietje & Michael Kühl & Renate Ohr, 2010. "Exploding national debts, imminent state bankruptcies: What lies ahead?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(04), pages 03-23, February.
    2. Schmidt, André, 2014. "Elemente einer Fiskalverfassung für die Eurozone," Beiträge zur Jahrestagung 2014 (Goettingen) 107394, Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik.

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