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Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did Not Change Under Europe’s Fiscal Framework

Citations

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Cited by:

  1. Aleksander Aristovnik & Matevž Meze, 2017. "The impact of supranational fiscal rules on public finance: the case of EMU member states," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 19(1), pages 38-53.
  2. repec:edn:sirdps:400 is not listed on IDEAS
  3. Mark Hallerberg, 2011. "Fiscal federalism reforms in the European Union and the Greek crisis," European Union Politics, , vol. 12(1), pages 127-142, March.
  4. Roel Beetsma & Massimo Giuliodori, 2010. "The Macroeconomic Costs and Benefits of the EMU and Other Monetary Unions: An Overview of Recent Research," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 603-641, September.
  5. Győrffy, Dóra, 2008. "Költségvetési kiigazítás és növekedés az Európai Unióban. Tanulságok Magyarország számára [Budget adjustment and growth in the European Union lessons for Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 962-986.
  6. Daniel, Betty C. & Shiamptanis, Christos, 2013. "Pushing the limit? Fiscal policy in the European Monetary Union," Journal of Economic Dynamics and Control, Elsevier, vol. 37(11), pages 2307-2321.
  7. Bénétrix, Agustín S. & Lane, Philip R., 2013. "Fiscal cyclicality and EMU," Journal of International Money and Finance, Elsevier, vol. 34(C), pages 164-176.
  8. Picchio, Matteo & Santolini, Raffaella, 2020. "Fiscal rules and budget forecast errors of Italian municipalities," European Journal of Political Economy, Elsevier, vol. 64(C).
  9. Mr. Martin Cihak & Mr. Wim Fonteyne, 2009. "Five Years After: European Union Membership and Macro-Financial Stability in the New Member States," IMF Working Papers 2009/068, International Monetary Fund.
  10. Juan Carlos Cuestas & Karsten Staehr, 2013. "Fiscal shocks and budget balance persistence in the EU countries from Central and Eastern Europe," Applied Economics, Taylor & Francis Journals, vol. 45(22), pages 3211-3219, August.
  11. Jürgen von Hagen, 2011. "The Sustainability of Public Finances in the EMU," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 9(03), pages 03-09, October.
  12. Muscatelli, Vito A. & Natale, Piergiovanna & Tirelli, Patrizio, 2012. "A simple and flexible alternative to Stability and Growth Pact deficit ceilings. Is it at hand?," European Journal of Political Economy, Elsevier, vol. 28(1), pages 14-26.
  13. Amable, Bruno & Azizi, Karim, 2014. "Counter-cyclical budget policy across varieties of capitalism," Structural Change and Economic Dynamics, Elsevier, vol. 30(C), pages 1-9.
  14. Maria DUNIN-WĄSOWICZ, 2013. "Currency Warfare As Practice Of The Eurozone’S Effilochement: The Logic Of Geo–Economy In Lieu Of The European Integration Theories," ECONOMY AND SOCIOLOGY: Theoretical and Scientifical Journal, Socionet;Complexul Editorial "INCE", issue 3, pages 9-23.
  15. Roel Beetsma & Massimo Giuliodori, 2010. "Fiscal adjustment to cyclical developments in the OECD: an empirical analysis based on real-time data," Oxford Economic Papers, Oxford University Press, vol. 62(3), pages 419-441, July.
  16. Frank A.G. den Butter & Mathieu L.L. Segers, 2014. "Prospects for an EMU between Federalism and Nationalism," Tinbergen Institute Discussion Papers 14-008/VI, Tinbergen Institute.
  17. Zidong An & Joao Tovar Jalles, 2020. "On the performance of US fiscal forecasts: government vs. private information," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 48(2), pages 367-391, June.
  18. Huart Florence, 2013. "Is Fiscal Policy Procyclical in the Euro Area?," German Economic Review, De Gruyter, vol. 14(1), pages 73-88, February.
  19. Betty C. Daniel & Christos Shiamptanis, 2008. "Fiscal policy in the European Monetary Union," International Finance Discussion Papers 961, Board of Governors of the Federal Reserve System (U.S.).
  20. Cepparulo, Alessandra & Gastaldi, Francesca & Giuriato, Luisa & Sacchi, Agnese, 2011. "Budgeting versus implementing fiscal policy:the Italian case," MPRA Paper 32474, University Library of Munich, Germany.
  21. Jacopo Cimadomo, 2012. "Fiscal Policy in Real Time," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(2), pages 440-465, June.
  22. Rossana Merola & Javier J. Pérez, 2012. "Fiscal forecast errors: governments vs independent agencies?," Working Papers 1233, Banco de España.
  23. Martin Gorčák & Stanislav Šaroch, 2022. "Fiscal Councils In Eu Member States: Impact On Fiscal Discipline," Prague Economic Papers, Prague University of Economics and Business, vol. 2022(5), pages 327-346.
  24. Karsten Staehr, 2010. "The global financial crisis and public finances in the New EU Countries from Central and Eastern Europe," Bank of Estonia Working Papers wp2010-02, Bank of Estonia, revised 04 Feb 2010.
  25. Albuquerque, Bruno, 2011. "Fiscal institutions and public spending volatility in Europe," Economic Modelling, Elsevier, vol. 28(6), pages 2544-2559.
  26. Pina, Álvaro M. & Venes, Nuno M., 2011. "The political economy of EDP fiscal forecasts: An empirical assessment," European Journal of Political Economy, Elsevier, vol. 27(3), pages 534-546, September.
  27. Martin Gächter & Alexander Gruber & Aleksandra Riedl, 2017. "Wage Divergence, Business Cycle Co-Movement and the Currency Union Effect," Journal of Common Market Studies, Wiley Blackwell, vol. 55(6), pages 1322-1342, November.
  28. Julia Darby & Jacques Melitz, 2011. "Joint Estimates of Automatic and Discretionary Fiscal Policy: the OECD 1981-2003," Working Papers 2011-14, CEPII research center.
  29. Robert Joliet & Rabia Nessah, 2016. "Euro White and Euro Yolk: Sovereign Debt Structure Stability in the Eurozone," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 18(03), pages 1-15, September.
  30. Mr. Xavier Debrun & Mr. Manmohan S. Kumar, 2007. "The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence," IMF Working Papers 2007/171, International Monetary Fund.
  31. Hughes Hallett, Andrew & Bernoth, Kerstin & Lewis, John, 2008. "Did Fiscal Policy Makers Know What They Were Doing? Reassessing Fiscal Policy with Real Time Data," CEPR Discussion Papers 6758, C.E.P.R. Discussion Papers.
  32. de Mendonça, Helder Ferreira & Baca, Adriana Cabrera, 2022. "Fiscal opacity and reduction of income inequality through taxation: Effects on economic growth," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 69-82.
  33. Joseph David Barroso Vasconcelos de Deus & Helder Ferreira de Mendonça, 2015. "Empirical evidence on fiscal forecasting in Eurozone countries," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 42(5), pages 838-860, October.
  34. Cronin, David & McInerney, Niall, 2023. "Official fiscal forecasts in EU member states under the European Semester and Fiscal Compact – An empirical assessment," European Journal of Political Economy, Elsevier, vol. 76(C).
  35. Hans Pitlik, 2010. "Fiscal Governance and Government Investment in Europe since the 1990s," WIFO Working Papers 370, WIFO.
  36. Patricia Martins & Leonida Correia, 2013. "The determinants of macroeconomic forecasts and the Stability and Growth Pact," Working Papers Department of Economics 2013/07, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
  37. Roberto Golinelli & Sandro Momigliano, 2009. "The Cyclical Reaction of Fiscal Policies in the Euro Area: The Role of Modelling Choices and Data Vintages," Fiscal Studies, John Wiley & Sons, vol. 30(1), pages 39-72, March.
  38. Jürgen Hagen, 2010. "Sticking to fiscal plans: the role of institutions," Public Choice, Springer, vol. 144(3), pages 487-503, September.
  39. Diego J. Pedregal & Javier J. Pérez & Antonio Sánchez Fuentes, 2014. "A Tookit to strengthen Government," Hacienda Pública Española / Review of Public Economics, IEF, vol. 211(4), pages 117-146, December.
  40. Bernoth, Kerstin & Hughes Hallett, Andrew & Lewis, John, 2008. "Did Fiscal Policy Makers Know What They Were Doing? Reassessing Fiscal Policy with Real Time Data," CEPR Discussion Papers 6758, C.E.P.R. Discussion Papers.
  41. Ioannou, Demosthenes & Stracca, Livio, 2014. "Have the euro area and EU governance worked? Just the facts," European Journal of Political Economy, Elsevier, vol. 34(C), pages 1-17.
  42. Julia del Amo Valor & Marcos Martín Mateos & Diego Martínez López & Javier J. Pérez, 2023. "Is the European economic governance framework too “complex”? A critical discussion," Working Papers 2023-06, FEDEA.
  43. Benedicta Marzinotto & Guntram B. Wolff & Mark Hallerberg, 2011. "How effective and legitimate is the European semester? Increasing role of the European parliament," Working Papers 612, Bruegel.
  44. Gorčák Martin & Šaroch Stanislav, 2021. "Impact of fiscal institutions on public finances in the European Union: Review of evidence in the empirical literature," Review of Economic Perspectives, Sciendo, vol. 21(2), pages 215-232, June.
  45. Xavier Debrun, 2006. "Tying hands is not commitment- can fiscal rules and institutions really enhance fiscal discipline?," Working Papers 48, Bruegel.
  46. Plödt, Martin & Reicher, Claire A., 2015. "Estimating fiscal policy reaction functions: The role of model specification," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 113-128.
  47. António Afonso & Ana Sofia Guimarães, 2014. "The relevance of fiscal rules for fiscal and yield developments," Working Papers Department of Economics 2014/05, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
  48. Torój, Andrzej & Bednarek, Elżbieta & Bęza-Bojanowska, Joanna & Osińska, Joanna & Waćko, Katarzyna & Witkowski, Dariusz, 2012. "EMU: the (post-)crisis perspective. Literature survey and implications for the euro-candidates," MF Working Papers 12, Ministry of Finance in Poland, revised 06 Mar 2012.
  49. Merola, Rossana & Pérez, Javier J., 2013. "Fiscal forecast errors: Governments versus independent agencies?," European Journal of Political Economy, Elsevier, vol. 32(C), pages 285-299.
  50. Giuliodori, Massimo & Beetsma, Roel, 2008. "On the relationship between fiscal plans in the European Union: An empirical analysis based on real-time data," Journal of Comparative Economics, Elsevier, vol. 36(2), pages 221-242, June.
  51. Jernej Mencinger Aleksander Aristovnik, 2014. "Fiscal Policy Stance Reaction to the Financial/Economic Crisis in the EMU: The Case of Slovenia," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 17(Special C), pages 17-30, December.
  52. Diego J. Pedregal & Javier J. Pérez & A. Jesús Sánchez-Fuentes, 2014. "A toolkit to strengthen government budget surveillance," Working Papers 1416, Banco de España.
  53. Mencinger, Jernej & Aristovnik, Aleksander, 2013. "Fiscal Policy Stance in the European Union: The Impact of the Euro," MPRA Paper 44708, University Library of Munich, Germany.
  54. Kukk Merike & Staehr Karsten, 2015. "Enhanced Fiscal Governance in the European Union: The Fiscal Compact," TalTech Journal of European Studies, Sciendo, vol. 5(1), pages 73-92, February.
  55. Nicolas Afflatet, 2017. "Deficit Policy within the Framework of the Stability and Growth Pact: An Empirical Analysis," Applied Economics and Finance, Redfame publishing, vol. 4(2), pages 76-86, March.
  56. Manfred Weber & Karl Knappe, 2007. "Fiscal policy in EMU after the reform of the european stability and growth pact," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(04), pages 45-51, January.
  57. Julia Darby & Jacques Melitz, 2011. "Joint estimates of automatic and discretionary fiscal policy for the OECD," Working Papers 1122, University of Strathclyde Business School, Department of Economics.
  58. Roberto Golinelli & Sandro Momigliano, 2008. "The cyclical response of fiscal policies in the euro area. Why do results of empirical research differ so strongly?," Temi di discussione (Economic working papers) 654, Bank of Italy, Economic Research and International Relations Area.
  59. Ngozi E. Egbuna & Maimuna John-Sowe & Santigie M. Kargbo (PhD) & Sani Bawa (PhD) & Ibrahima Diallo & Isatou Mendy, 2020. "Business Cycle Synchronisation In The Ecowas Region," Working Papers 18, West African Monetary Institute.
  60. Postuła Marta & Klepacki Jarosław & Alińska Agnieszka, 2018. "The Impact of Standardised fiscal rules index on the Yield on Ten-Year Government Bonds in the Visegrád Group Countries in 2005–2016," Journal of Management and Business Administration. Central Europe, Sciendo, vol. 26(3), pages 49-70, September.
  61. Checherita-Westphal, Cristina & Žďárek, Václav, 2017. "Fiscal reaction function and fiscal fatigue: evidence for the euro area," Working Paper Series 2036, European Central Bank.
  62. Jakob Haan & Richard Jong-A-Pin & Jochen Mierau, 2013. "Do budgetary institutions mitigate the common pool problem? New empirical evidence for the EU," Public Choice, Springer, vol. 156(3), pages 423-441, September.
  63. Beetsma, Roel & Giuliodori, Massimo & Wierts, Peter, 2009. "Budgeting versus implementing fiscal policy in the EU," CEPR Discussion Papers 7285, C.E.P.R. Discussion Papers.
  64. Plödt, Martin & Reicher, Claire, 2014. "Estimating simple fiscal policy reaction functions for the euro area countries," Kiel Working Papers 1899, Kiel Institute for the World Economy (IfW Kiel).
  65. Attinasi, Maria Grazia & Palazzo, Alessandra Anna & Pierluigi, Beatrice, 2019. "Fiscal activism in the euro area and in other advanced economies: new evidence," Working Paper Series 2344, European Central Bank.
  66. repec:ces:ifodic:v:9:y:2011:i:3:p:03-09 is not listed on IDEAS
  67. Serhan Cevik & Katerina Teksoz, 2014. "Deep Roots of Fiscal Behavior," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(2), pages 5-33, November.
  68. International Monetary Fund, 2006. "Bosnia and Herzegovina: Selected Issues," IMF Staff Country Reports 2006/368, International Monetary Fund.
  69. Patrícia Martins & Leonida Correia, 2016. "Fiscal Forecasts and Slippages: The Role of the SGP and Domestic Fiscal Frameworks," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(2), pages 226-253, June.
  70. Jankovics, László, 2021. "Költségvetési tanácsok az EU-ban - ölebek, vérebek vagy őrkutyák? [Fiscal councils in the EU: lapdogs, watchdogs or bloodhounds?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 251-281.
  71. Ms. Iyabo Masha & Mr. Leighton S Harris & Mr. Jian-Ye Wang & Ms. Kazuko Shirono, 2007. "The Common Monetary Area in Southern Africa: Shocks, Adjustment, and Policy Challenges," IMF Working Papers 2007/158, International Monetary Fund.
  72. Ferdinandusse, Marien & Checherita-Westphal, Cristina & Attinasi, Maria Grazia & Lalouette, Laure & Bańkowski, Krzysztof & Palaiodimos, Georgios & Trindade Campos, Maria Manuel, 2017. "Euro area fiscal stance," Occasional Paper Series 182, European Central Bank.
  73. Haryo Kuncoro, 2018. "A feasibility study of establishing fiscal council in Indonesia," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 10(2), pages 137-147, Oktober.
  74. Jürgen von Hagen, 2011. "The Sustainability of Public Finances in the EMU," CESifo DICE Report, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 9(3), pages 03-10, October.
  75. Jalles, João Tovar & Karibzhanov, Iskander & Loungani, Prakash, 2015. "Cross-country evidence on the quality of private sector fiscal forecasts," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 186-201.
  76. repec:ces:ifodic:v:9:y:2011:i:3:p:16751944 is not listed on IDEAS
  77. Alessandro Turrini, 2008. "Fiscal policy and the cycle in the Euro Area: The role of government revenue and expenditure," European Economy - Economic Papers 2008 - 2015 323, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
  78. António Afonso & Jorge Silva, 2015. "The track record of fiscal forecasting in the EU," Economics Bulletin, AccessEcon, vol. 35(2), pages 1318-1329.
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