Will the New Stability and Growth Pact Succeed? PDF Download
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Author: Marco Buti
Publisher:
ISBN: 9789279011818
Category : Labor maket
Languages : en
Pages : 25
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Book Description
Author: Marco Buti
Publisher:
ISBN: 9789279011818
Category : Labor maket
Languages : en
Pages : 25
Get Book Here
Book Description
Author: Marco Buti
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 52
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Book Description
Recoge: 1. Introduction. - 2. Fiscal policy in the early years of EMU: a snapshot. - 3. The reform of the SGP. - 4.A political economy view: renewed ownership or green light for collusion?. - 5. Conclusions.
Author: Leila Simona Talani
Publisher: Edward Elgar Publishing
ISBN: 1848441509
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
Very comprehensive and based on a detailed economic and political analysis, Between Growth and Stability is clearly a vital book for both students and seasoned economists. . . Thomas Bauwens, Bibliothèque Européenne Combining economic and political science perspectives, this timely and important book describes and analyses the circumstances and events leading to the demise and subsequent reform of the Stability and Growth Pact (SGP). Between Growth and Stability aims to find a solution to the dilemmas posed by fiscal policy coordination in the context of a single currency area, as well as contrasting the alternative heuristic frameworks and theoretical perspectives employed. It focuses particularly on the question of credibility, its definition and its meaning in the day-to-day workings of economic and monetary union. The book examines the actual performance of the SGP and proposes ways in which the integrity of European fiscal rule making might be improved in the future. This book will be essential reading for policymakers, politicians, members of European institutions and international organizations. The in-depth analysis will also be invaluable to scholars of international relations and economics, as well as undergraduate and postgraduate students in international relations, political science and economics.
Author: Anthony Annett
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
The Stability and Growth Pact has been a success in numerous EU countries, especially in guiding them toward underlying fiscal balance ahead of population aging. These countries tend to be smaller, subject to greater macroeconomic volatility, and reliant on a form of fiscal governance that emphasizes targets and contracts. Most of the new members share these characteristics. For the countries less compatible with the Pact, domestic governance reforms that increase the reputational costs for noncompliance can be useful complements to the fiscal framework.
Author: Guillermo E. Perry
Publisher: World Bank Publications
ISBN: 0821370855
Category : Business & Economics
Languages : en
Pages : 354
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Book Description
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Author: Martin Larch
Publisher: Routledge
ISBN: 1135234949
Category : Business & Economics
Languages : en
Pages : 219
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Book Description
""Fiscal policy making in the European Union is a national prerogative that is carried out and co-ordinated within the remits of the Stability and Growth Pact (SGP). The SGP Member States have agreed upon a rules-based framework which, abstracting from operational details, aims to ensure long-term sustainability of public finances while allowing for short-term fiscal stabilization. The success of the EU fiscal framework depends to a large extent on the effectiveness and accuracy of the tool-kit of indicators and methods used at the EU level to monitor and assess the fiscal performance of the Member States vis-a-vis the requirements of the SGP. The contributions to this volume examine key aspects of the measurement of fiscal policy making in the context of the EU fiscal surveillance framework. They highlight strengths and weaknesses of current assessment practice, including innovations implied by the 2005 revision of the SGP." "--Jacket.
Author: Francesco Farina
Publisher: Routledge
ISBN: 1134109385
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers. Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the: monetary and fiscal policy-mix evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules accountability of debt evolution financial spill-over of national fiscal policies measurement and assessment of automatic stabilizers. Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.
Author: Leila Simona Talani
Publisher: Routledge
ISBN: 1000152146
Category : Political Science
Languages : en
Pages : 291
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Book Description
As with the previous version (Ashgate 2004), this second edition is divided, for didactic purposes, into two parts. The first part provides an overview of political science approaches to European political economy, both mainstream and critical ones. As such, it contributes directly to the current debate among scholars of political science and international political economy concerning the nature of the process of European integration. The second part provides alternative explanations of some European economic policy events - the ECB, banking regulation, fiscal co-ordination, the crisis of the euro-zone, social policy and unemployment - allowing the reader to assess the explanatory value of competing approaches.
Author: Luc Eyraud
Publisher: International Monetary Fund
ISBN: 1484350936
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog
Author: Dóra Győrffy
Publisher: Central European University Press
ISBN: 6155225346
Category : Political Science
Languages : en
Pages : 238
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Book Description
The book seeks to link theoretical debates on the relevance of trust in economic outcomes with the current arguments about the origins and lessons of the subprime crisis. By what mechanisms does trust influence economic outcomes? Under what conditions do these mechanisms prevail? How do debates about trust help our understanding of the subprime crisis in the European Union? By integrating insights from Post-Keynesian, Austrian and new institutional economics, the central proposition of the analysis is that the presence or absence of institutional trust creates virtuous and vicious cycles in law-abiding, which critically influence the possibility for economic agents to have realistic long-term plans.
