The Stability and Growth Pact PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Stability and Growth Pact PDF full book. Access full book title The Stability and Growth Pact by A. Brunila. Download full books in PDF and EPUB format.
Author: A. Brunila
Publisher: Springer
ISBN: 0230629261
Category : Business & Economics
Languages : en
Pages : 446
Get Book Here
Book Description
The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyse the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation. This book is the definitive source of reference on the SGP for academics, policy makes and economists.
Author: A. Brunila
Publisher: Springer
ISBN: 0230629261
Category : Business & Economics
Languages : en
Pages : 446
Get Book Here
Book Description
The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyse the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation. This book is the definitive source of reference on the SGP for academics, policy makes and economists.
Author: Martin Heipertz
Publisher: Cambridge University Press
ISBN: 0521197503
Category : Business & Economics
Languages : en
Pages : 333
Get Book Here
Book Description
This book analyses the fraught history and politics of the Stability and Growth Pact from its origins to the present economic crisis.
Author: Mr.Michael Deppler
Publisher: International Monetary Fund
ISBN: 1451975481
Category : Business & Economics
Languages : en
Pages : 28
Get Book Here
Book Description
A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules, where few changes seem necessary. Specifically, the Excessive Deficit Procedure needs a stronger focus on policies rather than outcomes, while staying operationally simple and transparent. Furthermore, reforms are needed to foster time-consistent national policies, budgetary transparency, and ownership of the Pact. Accordingly, parliaments should debate national Stability Programs and national fiscal councils should review these programs for parliaments.
Author: Luc Eyraud
Publisher: International Monetary Fund
ISBN: 1484350685
Category : Business & Economics
Languages : en
Pages : 132
Get Book Here
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: Federico Diaz Kalan
Publisher: International Monetary Fund
ISBN: 1484351029
Category : Computers
Languages : en
Pages : 36
Get Book Here
Book Description
There is evidence that fiscal rules, in particular well-designed rules, are associated with lower sovereign spreads. However, the impact of noncompliance with fiscal rules on spreads has not been examined in the literature. This paper estimates the effect of the Excessive Deficit Procedure (EDP) on sovereign spreads of European Union member states. Based on a sample including the 28 European Union countries over the period 1999 to 2016, sovereign spreads of countries placed under an EDP are found to be on average higher compared to countries that are not under an EDP. The interpretation of this result is not straight-forward as different channels may be at play, in particular those related with the credibility and the design of the EU fiscal framework. The specification accounts for typical macroeconomic, fiscal, and financial determinants of sovereign spreads, the System Generalized Method of Moments estimator is used to control for endogeneity, and results are robust to a range of checks on variables and estimators.
Author: Joaquim Miranda Sarmento
Publisher: Springer
ISBN: 3030051749
Category : Business & Economics
Languages : en
Pages : 226
Get Book Here
Book Description
This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the more recent Fiscal Treaty, EU and Eurozone, countries have been subject to various fiscal rules. The importance of these rules, and of the subsequent procedures that every Eurozone country has to adhere to, is unquestionable. The book provides the reader with an in-depth understanding of the complex EU rules concerning fiscal policy, breaking down the corresponding legal texts into simple and accessible language. It has a broad interdisciplinary appeal, and scholars and practitioners whose work involves these areas will find it of particular interest.
Author: Mr.George Kopits
Publisher: International Monetary Fund
ISBN: 9781557757043
Category : Business & Economics
Languages : en
Pages : 58
Get Book Here
Book Description
What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.
Author: Antonio Estella de Noriega
Publisher: Cambridge University Press
ISBN: 110714101X
Category : Business & Economics
Languages : en
Pages : 289
Get Book Here
Book Description
A critical analysis of the legal dimension of European Union economic governance.
Author: Tanja A. Börzel
Publisher: Cornell University Press
ISBN: 150175341X
Category : Political Science
Languages : en
Pages : 282
Get Book Here
Book Description
Why Noncompliance traces the history of noncompliance within the European Union (EU), focusing on which states continuously do or do not follow EU Law, why, and how that affects the governance in the EU and beyond. In exploring the EU's long and varied history of noncompliance, Tanja A. Börzel takes a close look at the diverse groups of noncompliant states throughout the EU's existence. Why do states that are vocally critical of the EU have a better record of compliance than those that support the EU? Why has noncompliance been declining since the 1990s, even though the EU was adding member-states and numerous laws? Börzel debunks conventional wisdoms in EU compliance research, showing that noncompliance in the EU is not caused by the new Central and Eastern European member states, nor by the Eurosceptic member states. So why do these states take the brunt of Europe's misplaced ire? Why Noncompliance introduces politicization as an explanatory factor that has been long overlooked in the literature and scholarship surrounding the European Union. Börzel argues that political controversy combined with voting power and administrative capacity, explains why noncompliance with EU law has been declining since the completion of the Single Market, cannot be blamed on the EU's Central and Easter European member states, and is concentrated in areas where EU seeks to protect citizen rights. Thanks to generous funding from Freie Universitat Berlin, the ebook editions of this book are available as Open Access volumes from Cornell Open (cornellpress.cornell.edu/cornell-open) and other repositories.
Author: Dermot Hodson
Publisher: Oxford University Press
ISBN: 019957250X
Category : Business & Economics
Languages : en
Pages : 185
Get Book Here
Book Description
This volume offers a timely analysis of economic and monetary union at a time of heightened uncertainty about the future of the Euro. It explores the evolution of Euro area governance from the launch of the Euro in 1999 to the sovereign debt crisis that struck the Euro area in 2010.
