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The Implementation of the Stability and Growth Pact

Author

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  • Ludger Schuknecht

Abstract

This article explains the "new" institutional framework for fiscal policy-making in the EU countries agreed first in the Maastricht Treaty and later complemented by the Stability and Growth Pact. This framework introduces a – probably unprecedented – supra-national institutional framework for national fiscal policies. It also serves as a basis for monitoring and assessing fiscal policies and their compatibility with price stability-oriented monetary policy making.

Suggested Citation

  • Ludger Schuknecht, 2002. "The Implementation of the Stability and Growth Pact," OECD Journal on Budgeting, OECD Publishing, vol. 1(3), pages 81-116.
    • Handle: RePEc:oec:govkaa:5lmqcr2k6tjc
    DOI: 10.1787/budget-v1-art17-en
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    1. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09j0h168m2j is not listed on IDEAS
    2. repec:hal:spmain:info:hdl:2441/1783 is not listed on IDEAS
    3. repec:spo:wpecon:info:hdl:2441/1783 is not listed on IDEAS
    4. repec:spo:wpecon:info:hdl:2441/1933 is not listed on IDEAS
    5. repec:spo:wpmain:info:hdl:2441/5081 is not listed on IDEAS
    6. Herzog, Bodo, 2006. "Coordination of fiscal and monetary policy in CIS-countries: A theory of optimum fiscal area?," Research in International Business and Finance, Elsevier, vol. 20(2), pages 256-274, June.
    7. repec:spo:wpecon:info:hdl:2441/5081 is not listed on IDEAS
    8. repec:spo:wpmain:info:hdl:2441/1933 is not listed on IDEAS
    9. Beetsma, Roel M.W.J. & Lans Bovenberg, A., 2006. "Political shocks and public debt: The case for a conservative central bank revisited," Journal of Economic Dynamics and Control, Elsevier, vol. 30(11), pages 1857-1883, November.
    10. Hideaki Tanaka, 2005. "Fiscal Rules and Targets and Public Expenditure Management: Enthusiasm in the 1990's and its Aftermath," Asia Pacific Economic Papers 346, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    11. Lisa Fingland & Stephen J. Bailey, 2008. "The EU's Stability and Growth Pact: Its Credibility and Sustainability," Public Money & Management, Taylor & Francis Journals, vol. 28(4), pages 223-230, August.
    12. repec:spo:wpecon:info:hdl:2441/dambferfb7dfprc9lip1oi0sn is not listed on IDEAS
    13. repec:hal:wpspec:info:hdl:2441/dambferfb7dfprc9lip1oi0sn is not listed on IDEAS
    14. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09j0h168m2j is not listed on IDEAS
    15. repec:spo:wpmain:info:hdl:2441/1783 is not listed on IDEAS
    16. repec:hal:wpspec:info:hdl:2441/1933 is not listed on IDEAS
    17. Andrew Hughes Hallett & Moritz Kuhn & Thomas Warmedinger, 2012. "The gains from early intervention in Europe: Fiscal surveillance and fiscal planning using cash data," European Journal of Government and Economics, Europa Grande, vol. 1(1), pages 44-65, June.
    18. repec:hal:wpspec:info:hdl:2441/5081 is not listed on IDEAS
    19. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09j0h168m2j is not listed on IDEAS
    20. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09j0h168m2j is not listed on IDEAS
    21. repec:hal:spmain:info:hdl:2441/5081 is not listed on IDEAS
    22. repec:hal:spmain:info:hdl:2441/1933 is not listed on IDEAS
    23. repec:hal:wpspec:info:hdl:2441/1783 is not listed on IDEAS
    24. Luciano Greco & Davide Iacovoni, 2004. "Decentramento e mercato del debito pubblico locale," Moneta e Credito, Economia civile, vol. 57(228), pages 437-480.
    25. Krogstrup, Signe & Wyplosz, Charles, 2010. "A common pool theory of supranational deficit ceilings," European Economic Review, Elsevier, vol. 54(2), pages 269-278, February.

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