Can the Stability and Growth Pact in EMU Cause Budget Deficit Cycles?
Author
Abstract
Suggested Citation
DOI: 10.1023/A:1022651129411
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Beetsma, Roel & Uhlig, Harald, 1999. "An Analysis of the Stability and Growth Pact," Economic Journal, Royal Economic Society, vol. 109(458), pages 546-571, October.
- Claus-Jochen Haake & Matthias G. Raith & Francis Edward Su, 2002. "Bidding for envy-freeness: A procedural approach to n-player fair-division problems," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 723-749.
- Alessandra Casella, 1999.
"Tradable deficit permits: efficient implementation of the Stability Pact in the European Monetary Union,"
Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 14(29), pages 322-361.
- Alessandra Casella, 1999. "Tradable Deficit Permits: Efficient Implementation of the Stability Pacin the European Monetary Union," NBER Working Papers 7278, National Bureau of Economic Research, Inc.
- Michael J. Artis & Marco Buti, 2000.
"‘Close‐to‐Balance or in Surplus’: A Policy‐Maker's Guide to the Implementation of the Stability and Growth Pact,"
Journal of Common Market Studies, Wiley Blackwell, vol. 38(4), pages 563-591, November.
- Artis, Michael & Buti, Marco, 2000. ""Close to Balance or in Surplus": A Policy Maker's Guide to the Implementation of the Stability and Growth Pact," CEPR Discussion Papers 2515, C.E.P.R. Discussion Papers.
- Michael J. Artis & Marco Buti, 2000. "Close to Balance or in Surplus. A Policy Maker’s Guide to the Implementation of the Stability and Growth Pact," EUI-RSCAS Working Papers 28, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
- Marco Buti & Werner Roeger & Jan In't Veld, 2001. "Stabilizing Output and Inflation: Policy Conflicts and Co‐operation under a Stability Pact," Journal of Common Market Studies, Wiley Blackwell, vol. 39(5), pages 801-828, December.
- Easterly, William, 1999. "When is fiscal adjustment an illusion?," Policy Research Working Paper Series 2109, The World Bank.
- William Easterly, 1999. "When is fiscal adjustment an illusion?," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 14(28), pages 56-86.
- Mr. David K. H. Begg, 1997. "The Design of EMU," IMF Working Papers 1997/099, International Monetary Fund.
- André Sapir & Marco Buti, 1998. "Economic policy in EMU," ULB Institutional Repository 2013/8078, ULB -- Universite Libre de Bruxelles.
- Michael Artis & Bernhard Winkler, 1998.
"The Stability Pact: Safeguarding the Credibility of the European Central Bank,"
National Institute Economic Review, National Institute of Economic and Social Research, vol. 163(1), pages 87-98, January.
- Artis, Michael & Winkler, Bernhard, 1998. "The Stability Pact: Safeguarding the Credibility of the European Central Bank," National Institute Economic Review, National Institute of Economic and Social Research, vol. 163, pages 87-98, January.
- Artis, Michael J & Winkler, Bernhard, 1997. "The Stability Pact: Safeguarding the Credibility of the European Central Bank," CEPR Discussion Papers 1688, C.E.P.R. Discussion Papers.
- Marco Buti & André Sapir, 2002.
"EMU in the Early Years: Differences and Credibility,"
Chapters, in: Marco Buti & André Sapir (ed.), EMU and Economic Policy in Europe, chapter 1,
Edward Elgar Publishing.
- Sapir, André & Buti, Marco, 2001. "EMU in the Early Years: Differences and Credibility," CEPR Discussion Papers 2832, C.E.P.R. Discussion Papers.
- André Sapir, 2002. "EMU in the early years: differences and credibility," ULB Institutional Repository 2013/8134, ULB -- Universite Libre de Bruxelles.
- Canzoneri,Matthew B. & Grilli,Vittorio & Masson,Paul R. (ed.), 1992. "Establishing a Central Bank," Cambridge Books, Cambridge University Press, number 9780521420983, September.
- Romer, Paul M, 1986. "Cake Eating, Chattering, and Jumps: Existence Results for Variational Problems," Econometrica, Econometric Society, vol. 54(4), pages 897-908, July.
- James M. Poterba & Kim Rueben, 1999.
"State Fiscal Institutions and the U.S. Municipal Bond Market,"
NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 181-208,
National Bureau of Economic Research, Inc.
- James M. Poterba & Kim S. Rueben, 1997. "State Fiscal Institutions and the U.S. Municipal Bond Market," NBER Working Papers 6237, National Bureau of Economic Research, Inc.
- Alberto Alesina & Guido Tabellini, 1990.
"A Positive Theory of Fiscal Deficits and Government Debt,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 403-414.
- Tabellini, Guido & Alesina, Alberto, 1990. "A Positive Theory of Fiscal Deficits and Government Debt," Scholarly Articles 3612769, Harvard University Department of Economics.
- Volbert Alexander & Peter Anker, 1997. "Fiscal Discipline and the Question of Convergence of National Interest Rates in the European Union," Open Economies Review, Springer, vol. 8(4), pages 335-352, October.
- Robert Holzmann & Yves Hervé & Roland Demmel, 1996. "The maastricht fiscal criteria: Required but ineffective?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(1), pages 25-58, February.
- Sapir, Andre & Sekkat, Khalid, 1999.
"Optimum electoral areas: Should Europe adopt a single election day?,"
European Economic Review, Elsevier, vol. 43(8), pages 1595-1619, August.
- André Sapir & Khalid Sekkat, 1999. "Optimum electoral areas: should Europe adopt a single election day?," ULB Institutional Repository 2013/7336, ULB -- Universite Libre de Bruxelles.
- Barry Eichengreen & Charles Wyplosz, 1998. "The Stability Pact: more than a minor nuisance?," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 66-113.
- Engwerda, Jacob C. & van Aarle, Bas & Plasmans, Joseph E. J., 2002.
"Cooperative and non-cooperative fiscal stabilization policies in the EMU,"
Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 451-481, March.
- Engwerda, J.C. & van Aarle, B. & Plasmans, J.E.J., 2002. "Cooperative and non-cooperative fiscal stabilization policies in the EMU," Other publications TiSEM 2cc19f3f-16ad-4fed-a701-5, Tilburg University, School of Economics and Management.
- James M. Poterba & Jürgen von Hagen, 1999. "Fiscal Institutions and Fiscal Performance," NBER Books, National Bureau of Economic Research, Inc, number pote99-1.
- Buti, Marco & Franco, Daniele & Ongena, Hedwig, 1998. "Fiscal Discipline and Flexibility in EMU: The Implementation of the Stability and Growth Pact," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 14(3), pages 81-97, Autumn.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Dury, Karen & Pina, Alvaro M., 2003.
"Fiscal policy in EMU: simulating the operation of the Stability Pact,"
Journal of Policy Modeling, Elsevier, vol. 25(2), pages 179-206, February.
- Dury, K. & Pina, A.M., 2000. "Fiscal Policy in EMU: Simulating the Operation of the Stability Pact," Economics Working Papers eco2000/3, European University Institute.
- Uhlig, Harald, 2002.
"One Money, but Many Fiscal Policies in Europe: What Are the Consequences?,"
CEPR Discussion Papers
3296, C.E.P.R. Discussion Papers.
- Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Discussion Paper 2002-32, Tilburg University, Center for Economic Research.
- Tilman Brück & Andreas Cors & Klaus F. Zimmermann & Rudolf Zwiener, 2002. "Stability Criteria and Convergence: The Role of the System of National Accounts for Fiscal Policy in Europe," Discussion Papers of DIW Berlin 318, DIW Berlin, German Institute for Economic Research.
- Mr. Roel M. W. J. Beetsma & Mr. Xavier Debrun & Mr. Franc Klaassen, 2001.
"Is Fiscal Policy Coordination in EMU Desirable?,"
IMF Working Papers
2001/178, International Monetary Fund.
- Roel Beetsma & Xavier Debrun & Frank Klaassen, 2001. "Is Fiscal Policy Coordination in EMU Desirable?," CESifo Working Paper Series 599, CESifo.
- Roel Beetsma & Xavier Debrun & Franc Klaassen, 2001. "Is Fiscal Policy Coordination in EMU Desirable?," IHEID Working Papers 04-2001, Economics Section, The Graduate Institute of International Studies.
- Beetsma, Roel & Debrun, Xavier & Klaassen, Franc, 2001. "Is Fiscal Policy Coordination in EMU Desirable?," CEPR Discussion Papers 3035, C.E.P.R. Discussion Papers.
- Silvia Sgherri, 2002. "The fiscal dimension of a common monetary policy: results with a non-Ricardian global model," The European Journal of Finance, Taylor & Francis Journals, vol. 8(4), pages 449-479.
- Roel M.W.J.Beetsma & Frederick van der Ploeg, 2007.
"The political economy of public investment,"
European Economy - Economic Papers 2008 - 2015
276, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- van der Ploeg, Frederick & Beetsma, Roel, 2007. "The Political Economy of Public Investment," CEPR Discussion Papers 6090, C.E.P.R. Discussion Papers.
- Roel M.W.J. Beetsma & Frederick van der Ploeg, 2007. "Partisan Public Investment and Debt: The Case for Fiscal Restrictions," Economics Working Papers ECO2007/37, European University Institute.
- Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Other publications TiSEM f2cdcc6c-329f-4ae6-915b-2, Tilburg University, School of Economics and Management.
- Ondřej Schneider & Petr Hedbávný & Jan Zápal, 2007.
"A Fiscal Rule that Has Teeth: A Suggestion for a “Fiscal Sustainability Council” Underpinned by the Financial Markets,"
Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 32-53, March.
- Petr Hedbávný & Ondrej Schneider & Jan Zápal, 2005. "A Fiscal Rule that has Teeth: A Suggestion for a ‘Fiscal Sustainability Council’ underpinned by the Financial Markets," CESifo Working Paper Series 1499, CESifo.
- Petr Hedbávný & Ondřej Schneider & Jan Zápal, 2005. "A Fiscal Rule That Has Teeth: A Suggestion for a "Fiscal Sustainability Council" Underpinned by the Financial Markets," Working Papers IES 79, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
- Zotteri, Stefania & Franco, Daniele & Balassone, Fabrizio, 2003. "Fiscal rules for sub-national governments: what lessons from EMU countries?," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34926, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Lossani, Marco & Natale, Piergiovanna & Tirelli, Patrizio, 2001. "A Reform Proposal for EMU Institutions," MPRA Paper 18694, University Library of Munich, Germany.
- Mark Hallerberg, 2002. "Introduction," European Union Politics, , vol. 3(2), pages 139-150, June.
- Michael J. Artis & Marco Buti, 2000.
"‘Close‐to‐Balance or in Surplus’: A Policy‐Maker's Guide to the Implementation of the Stability and Growth Pact,"
Journal of Common Market Studies, Wiley Blackwell, vol. 38(4), pages 563-591, November.
- Artis, Michael & Buti, Marco, 2000. ""Close to Balance or in Surplus": A Policy Maker's Guide to the Implementation of the Stability and Growth Pact," CEPR Discussion Papers 2515, C.E.P.R. Discussion Papers.
- Michael J. Artis & Marco Buti, 2000. "Close to Balance or in Surplus. A Policy Maker’s Guide to the Implementation of the Stability and Growth Pact," EUI-RSCAS Working Papers 28, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
- repec:hal:wpspec:info:hdl:2441/1422 is not listed on IDEAS
- Rafal Benecki & Jens Hölscher & Mariusz Jarmuzek, 2006.
"Fiscal Transparency and Policy Rules in Poland,"
CASE Network Studies and Analyses
0327, CASE-Center for Social and Economic Research.
- Rafal Benecki & Jens Hölscher & Mariusz Jarmuzek, 2006. "Fiscal transparency and policy rules in Poland," UCL SSEES Economics and Business working paper series 65, UCL School of Slavonic and East European Studies (SSEES).
- Campoy Juan Cristóbal & Negrete Juan C., 2010.
"Structural Reforms and Budget Deficits in a Monetary Union: A Strategic Approach,"
The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-31, July.
- Campoy, Juan Cristobal & Negrete, Juan Carlos, 2009. "Structural reforms and budget deficits in a monetary union: a strategic approach," UMUFAE Economics Working Papers 5504, DIGITUM. Universidad de Murcia.
- Arestis, Philip & McCauley, Kevin & Sawyer, Malcolm, 2001.
"An Alternative Stability Pact for the European Union,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(1), pages 113-130, January.
- Philip Arestis & Kevin McCauley & Malcolm Sawyer, 2000. "An Alternative Stability Pact for the European Union," Economics Working Paper Archive wp_296, Levy Economics Institute.
- Philip Arestis & Kevin McCauley & Malcolm Sawyer, 2000. "An Alternative Stability Pact for the European Union," Macroeconomics 0004043, University Library of Munich, Germany.
- Paul Masson & Catherine Pattillo, 2002.
"Monetary Union in West Africa: An Agency of Restraint for Fiscal Policies?,"
Journal of African Economies, Centre for the Study of African Economies, vol. 11(3), pages 387-412, September.
- Ms. Catherine A Pattillo & Mr. Paul R Masson, 2001. "Monetary Union in West Africa: An Agency of Restraint for Fiscal Policies?," IMF Working Papers 2001/034, International Monetary Fund.
- Willem H. Buiter & Clemens Grafe, 2004.
"Patching up the Pact,"
The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(1), pages 67-102, March.
- Buiter, Willem & Grafe, Clemens, 2002. "Patching up the Pact," CEPR Discussion Papers 3496, C.E.P.R. Discussion Papers.
- Roberto Tamborini, 2004.
"One ‘Monetary Giant’ with Many ‘Fiscal Dwarfs’: The Efficiency of Macroeconomic Stabilization Policies in the European Monetary Union,"
International Economic Association Series, in: Alan V. Deardorff (ed.), The Past, Present and Future of the European Union, chapter 3, pages 21-47,
Palgrave Macmillan.
- Roberto Tamborini, 2002. "One "monetary giant" with many "fiscal dwarfs": The efficiency of macroeconomic stabilization policies in the European Monetary Union," Department of Economics Working Papers 0204, Department of Economics, University of Trento, Italia.
- Ray Barrell & Ian Hurst & Álvaro Pina, 2002. "Fiscal Targets, Automatic Stabilisers and their Effects on Output," Working Papers Department of Economics 2002/05, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
More about this item
Keywords
Budget deficits; deficit cycles; European Monetary Union; Stability and Growth Pact;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:empiri:v:30:y:2003:i:1:p:25-38. See general information about how to correct material in RePEc.
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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.