IDEAS home Printed from https://ideas.repec.org/p/nip/nipewp/3-2002.html
   My bibliography  Save this paper

A Política Orçamental no Quadro do Pacto de Estabilidade e Crescimento na Zona Euro: Um Contributo Crítico

Author

Listed:

Abstract

With the political decision which lays the groundwork for the process leading to the European Monetary Union (EMU), the member states in order to participate in this Union, have to respect some conditions, particularly, the «nominal convergence determined in the Treaty of Maastricht in 1992. However, in the EMU, the member states will be required to comply the Treaty of Maastricht and Stability and Growth Pact (Amsterdan, 1997) budgetary rules, while, the monetary and exchange rate policies are commons and centralized in the European Central Bank (ECB). Those limitations on the conduct of fiscal policies are closely related with the appearance of «asymmetric shocks» in the economy of a member state.

Suggested Citation

  • António Ferraz, 2002. "A Política Orçamental no Quadro do Pacto de Estabilidade e Crescimento na Zona Euro: Um Contributo Crítico," NIPE Working Papers 3/2002, NIPE - Universidade do Minho.
  • Handle: RePEc:nip:nipewp:3/2002
    as

    Download full text from publisher

    File URL: http://www3.eeg.uminho.pt/economia/nipe/docs/2002/NIPE_WP_3_2002.PDF
    Download Restriction: no

    References listed on IDEAS

    as
    1. Francisco José Veiga, 2000. "Delays of Inflation Stabilizations," Economics and Politics, Wiley Blackwell, vol. 12(3), pages 275-295, November.
    2. Casella, Alessandra & Eichengreen, Barry, 1996. "Can Foreign Aid Accelerate Stabilisation?," Economic Journal, Royal Economic Society, vol. 106(436), pages 605-619, May.
    3. Alexander W. Hoffmaister & Carlos A. Végh, 1996. "Disinflation and The Recession-Now-versus-Recession-Later Hypothesis: Evidence from Uruguay," IMF Staff Papers, Palgrave Macmillan, vol. 43(2), pages 355-394, June.
    4. Kiguel, Miguel A & Liviatan, Nissan, 1992. "The Business Cycle Associated.with Exchange Rate-Based Stabilizations," World Bank Economic Review, World Bank Group, vol. 6(2), pages 279-305, May.
    5. Dreher, Axel & Vaubel, Roland, 2000. "Does the IMF cause moral hazard and political business cycles? : Evidence from panel data," Discussion Papers 598, Institut fuer Volkswirtschaftslehre und Statistik, Abteilung fuer Volkswirtschaftslehre.
    6. Orphanides, Athanasios, 1996. "The timing of stabilizations," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 257-279.
    7. Hsieh, Chang-Tai, 2000. "Bargaining over reform," European Economic Review, Elsevier, vol. 44(9), pages 1659-1676, October.
    8. Calvo, Guillermo A. & Vegh, Carlos A., 1999. "Inflation stabilization and bop crises in developing countries," Handbook of Macroeconomics,in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 24, pages 1531-1614 Elsevier.
    9. Calvo, Guillermo A. & Vegh, Carlos A., 1999. "Inflation stabilization and bop crises in developing countries," Handbook of Macroeconomics,in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 24, pages 1531-1614 Elsevier.
    10. Drazen, Allan & Grilli, Vittorio, 1993. "The Benefit of Crises for Economic Reforms," American Economic Review, American Economic Association, vol. 83(3), pages 598-607, June.
    11. Ball, Richard & Rausser, Gordon, 1995. "Governance structures and the durability of economic reforms: Evidence from inflation stabilizations," World Development, Elsevier, vol. 23(6), pages 897-912, June.
    12. Alesina, Alberto & Drazen, Allan, 1991. "Why Are Stabilizations Delayed?," American Economic Review, American Economic Association, vol. 81(5), pages 1170-1188, December.
    13. Cukierman, Alex & Edwards, Sebastian & Tabellini, Guido, 1992. "Seigniorage and Political Instability," American Economic Review, American Economic Association, vol. 82(3), pages 537-555, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nip:nipewp:3/2002. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maria João Thompson). General contact details of provider: http://edirc.repec.org/data/nipampt.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.