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Fiscal Perspectives in Europe: Convergence and Debt's burden

Author

Listed:
  • Thierry Warin

    (Minda de Gunzburg CES (Harvard University), Department of Economics (Middlebury College))

Abstract

The paper addresses the question of the fiscal perspectives within the Economic and Monetary Union (EMU). By using a panel data analysis associated with an interpretation in terms of differences instead of levels, the results show a steady convergence of public deficits across the EMU, and that the EMU needs either to comply with the Lisbon agenda, or some kind of a growth strategy, or reduce the interest of the debt in order to regain some fiscal flexibility while abiding by the Stability and Growth Pact (SGP).

Suggested Citation

  • Thierry Warin, 2005. "Fiscal Perspectives in Europe: Convergence and Debt's burden," Economics Bulletin, AccessEcon, vol. 28(5), pages 1.
    • Handle: RePEc:ebl:ecbull:eb-05aa0005
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    File URL: http://www.accessecon.com/pubs/EB/2005/Volume28/EB-05AA0005A.pdf
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    More about this item

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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