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Fiscal rules- Timing is everything

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  • Benedicta Marzinotto
  • André Sapir

Abstract

The strengthening of the European Union’s fiscal rules with the approval of the so-called ‘six-pack’, and the parallel worsening of economic conditions in Europe, re-opened the debate about the relationship between fiscal discipline and growth. Influential voices have argued against the EU’s perceived obsession with fiscal discipline, which risks being self-defeating in bad times. However, EU fiscal rules are not as rigid as commonly thought, but represent a sophisticated system...

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  • Benedicta Marzinotto & André Sapir, 2012. "Fiscal rules- Timing is everything," Policy Briefs 749, Bruegel.
    • Handle: RePEc:bre:polbrf:749
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    Cited by:

    1. David Howarth & Lucia Quaglia, 2015. "The political economy of the euro area's sovereign debt crisis: introduction to the special issue of the Review of International Political Economy," Review of International Political Economy, Taylor & Francis Journals, vol. 22(3), pages 457-484, June.
    2. Zsolt Darvas, 2012. "The euro crisis- ten roots, but fewer solutions," Policy Contributions 755, Bruegel.
    3. Matthias Bauer, 2013. "Political Aversion To a Multilateral Fiscal Rule: The Dynamic Commitment Problem in European Fiscal Governance," Global Financial Markets Working Paper Series 44-2013, Friedrich-Schiller-University Jena.

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