IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Réformer le Pacte de stabilité : l'état du débat

  • Henri Sterdyniak

    (OFCE)

  • Catherine Mathieu

    (OFCE)

'Reforming the Stability and Growth Pact: where do we stand ? Reforming the SPG has become a highly debated issue in Europe. This parper starts with recalling the fiscal policy framework in the euro area: the 3% of GDP limit for public deficits, stability programmes, the broad economic policy guidelines. The weaknesses of the existing procedures are addressed: the arbitary nature of th criteria, the lack of economic policy co-ordination. We discuss the propositions recently made by the Commission to strengthen its influence on national fiscal policies. We then deal with several other propositions: budgetary federalism, golden rule of public finances, budgetary policy committees, public debt rather than deficits surveillance. Finally, we present our proposal: national budgetary policies would be responsilbe for managing the inflation- production trade off, under a medium term inflation objective, while monetary policy would target interest rates.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://econwpa.repec.org/eps/mac/papers/0411/0411019.pdf
Download Restriction: no

Paper provided by EconWPA in its series Macroeconomics with number 0411019.

as
in new window

Length: 35 pages
Date of creation: 26 Nov 2004
Date of revision: 07 Dec 2004
Handle: RePEc:wpa:wuwpma:0411019
Note: Type of Document - pdf; pages: 35. Text in French. Revue de l'OFCE, n° 84, janvier 2003.
Contact details of provider: Web page: http://econwpa.repec.org

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Fabrice Capoen & Henri Sterdyniak & Pierre Villa, 1994. "Indépendance des Banques centrales, politiques monétaire et budgétaire : une approche stratégique," Sciences Po publications info:hdl:2441/5266, Sciences Po.
  2. Buti, Marco & Eijffinger, Sylvester C W & Franco, Daniele, 2003. "Revisiting the Stability and Growth Pact: Grand Design or Internal Adjustment?," CEPR Discussion Papers 3692, C.E.P.R. Discussion Papers.
  3. Xavier Sala-i-Martin & Jeffrey Sachs, 1991. "Fiscal Federalism and Optimum Currency Areas: Evidence for Europe From the United States," NBER Working Papers 3855, National Bureau of Economic Research, Inc.
  4. Bayoumi, Tamim & Masson, Paul R., 1995. "Fiscal flows in the United States and Canada: Lessons for monetary union in Europe," European Economic Review, Elsevier, vol. 39(2), pages 253-274, February.
  5. Jean-Paul Fitoussi & Francesco Saraceno, 2002. "A Theory of Social Custom of Which Soft Growth May Be One Consequence. Tales of the European Stability Pact," Sciences Po publications n°2002-07, Sciences Po.
  6. Jérôme Creel & Henri Sterdyniak, 1998. "Du bon usage des politiques monétaire et budgétaire en Europe," Sciences Po publications info:hdl:2441/3181, Sciences Po.
  7. Eisner, Robert, 1989. "Budget Deficits: Rhetoric and Reality," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 73-93, Spring.
  8. Blanchard, Olivier J & Giavazzi, Francesco, 2004. "Improving the SGP Through a Proper Accounting of Public Investment," CEPR Discussion Papers 4220, C.E.P.R. Discussion Papers.
  9. Dominique Bureau & Paul Champsaur, 1992. "Fédéralisme budgétaire et unification économique européenne," Revue de l'OFCE, Programme National Persée, vol. 40(1), pages 87-99.
  10. repec:cai:reofsp:reof_p1992_40n1_0087 is not listed on IDEAS
  11. Jérôme Creel & Thierry Latreille & Jacques Le Cacheux, 2002. "Le pacte de stabilité et les politiques budgétaires dans l’Union Européenne," Sciences Po publications info:hdl:2441/2088, Sciences Po.
  12. repec:cai:reofsp:reof_p1995_54n1_0057 is not listed on IDEAS
  13. Ludger Schuknecht, 2001. "The Implementation of the Stability and Growth Pact," OECD Journal on Budgeting, OECD Publishing, vol. 1(3), pages 81-116.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0411019. 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: (EconWPA)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.