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The Implementation of the Stability and Growth Pact

Author

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  • Ludger Schuknecht

Abstract

This article explains the "new" institutional framework for fiscal policy-making in the EU countries agreed first in the Maastricht Treaty and later complemented by the Stability and Growth Pact. This framework introduces a – probably unprecedented – supra-national institutional framework for national fiscal policies. It also serves as a basis for monitoring and assessing fiscal policies and their compatibility with price stability-oriented monetary policy making.

Suggested Citation

  • Ludger Schuknecht, 2002. "The Implementation of the Stability and Growth Pact," OECD Journal on Budgeting, OECD Publishing, vol. 1(3), pages 81-116.
  • Handle: RePEc:oec:govkaa:5lmqcr2k6tjc
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    File URL: http://dx.doi.org/10.1787/budget-v1-art17-en
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    Citations

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    Cited by:

    1. Catherine Mathieu & Henri Sterdyniak, 2003. "Réformer le pacte de stabilité : l'état du débat," Revue de l'OFCE, Presses de Sciences-Po, vol. 84(1), pages 145-179.
    2. Catherine Mathieu & Henri Sterdyniak, 2006. "Appendix 6 : The New Member States and the Stability and Growth Pact : Needs for adapting in the prospect of euro area membership," Sciences Po publications info:hdl:2441/5081, Sciences Po.
    3. Catherine Mathieu & Henri Sterdyniak, 2013. "Do we need fiscal rules?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 189-233.
    4. repec:spo:wpecon:info:hdl:2441/1783 is not listed on IDEAS
    5. MATHIEU Catherine & STERDYNIAK Henri, "undated". "Reforming the Stability and Growth Pact: Breaking the Ice?," EcoMod2003 330700097, EcoMod.
    6. repec:spo:wpecon:info:hdl:2441/1933 is not listed on IDEAS
    7. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09j0h168m2j is not listed on IDEAS
    8. Herzog, Bodo, 2006. "Coordination of fiscal and monetary policy in CIS-countries: A theory of optimum fiscal area?," Research in International Business and Finance, Elsevier, vol. 20(2), pages 256-274, June.
    9. repec:spo:wpecon:info:hdl:2441/5081 is not listed on IDEAS
    10. Beetsma, Roel M.W.J. & Lans Bovenberg, A., 2006. "Political shocks and public debt: The case for a conservative central bank revisited," Journal of Economic Dynamics and Control, Elsevier, vol. 30(11), pages 1857-1883, November.
    11. Lisa Fingland & Stephen J. Bailey, 2008. "The EU's Stability and Growth Pact: Its Credibility and Sustainability," Public Money & Management, Taylor & Francis Journals, vol. 28(4), pages 223-230, August.
    12. repec:spo:wpecon:info:hdl:2441/dambferfb7dfprc9lip1oi0sn is not listed on IDEAS
    13. Luciano Greco & Davide Iacovoni, 2004. "Decentramento e mercato del debito pubblico locale," Moneta e Credito, Economia civile, vol. 57(228), pages 437-480.
    14. Krogstrup, Signe & Wyplosz, Charles, 2010. "A common pool theory of supranational deficit ceilings," European Economic Review, Elsevier, vol. 54(2), pages 269-278, February.

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