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European fiscal rules after the crisis

Author

Listed:
  • Jérôme Creel

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Francesco Saraceno

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

The Greek public finance crisis of the first semester 2010 has triggered discussion about the perils of fiscal unsustainability in a currency area, either through default contagion or moral hazard contagion, and it has questioned the reliance of the European Union (EU) on fiscal rules like the Stability and Growth Pact (SGP). In this contribution, we wish to shed light on the golden rule of public finance which, we argue, may generate fiscal sustainability without hindering economic growth (...).

Suggested Citation

  • Jérôme Creel & Francesco Saraceno, 2010. "European fiscal rules after the crisis," SciencePo Working papers Main hal-03416002, HAL.
    • Handle: RePEc:hal:spmain:hal-03416002
    DOI: 10.3917/jie.006.0095
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03416002
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Jerome Creel & Paul Hubert & Francesco Saraceno, 2012. "An assessment of Stability and Growth Pact Reform Proposals in a Small-Scale Macro Framework," Documents de Travail de l'OFCE 2012-04, Observatoire Francais des Conjonctures Economiques (OFCE).
    2. Julia del Amo Valor & Marcos Martín Mateos & Diego Martínez López & Javier J. Pérez, 2023. "Is the European economic governance framework too “complex”? A critical discussion," Working Papers 2023-06, FEDEA.
    3. Céline Antonin & Mattia Guerini & Mauro Napoletano & Francesco Vona, 2019. "Italie : sortir du double piège de l'endettement élevé et de la faible croissance," SciencePo Working papers Main hal-03403371, HAL.
    4. repec:spo:wpmain:info:hdl:2441/eul7jlnf19iq8tdp0vlfv63n5 is not listed on IDEAS
    5. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09j0h0g8tgo is not listed on IDEAS
    6. Francesco Saraceno, 2017. "Rethinking fiscal policy : lessons from the european monetary union," SciencePo Working papers Main hal-03457591, HAL.
    7. Paulo Vieira & Celsa Machado & Ana Paula Ribeiro, 2016. "Optimal Fiscal Simple Rules for Small and Large Countries of a Monetary Union," EcoMod2016 9685, EcoMod.
    8. Céline Antonin & Mattia Guerini & Mauro Napoletano & Francesco Vona, 2019. "Italy : escaping the high-debt and low-growth trap," Documents de Travail de l'OFCE 2019-07, Observatoire Francais des Conjonctures Economiques (OFCE).
    9. Francesco Saraceno, 2017. "Rethinking fiscal policy : lessons from the european monetary union," Working Papers hal-03457591, HAL.
    10. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09j0h0g8tgo is not listed on IDEAS
    11. Kea BARET, 2023. "On the importance of statistical governance quality and accurate targets for fiscal rules’ performance," Working Papers of BETA 2023-40, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    12. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09j0h0g8tgo is not listed on IDEAS
    13. S. Menguy, 2014. "Which is the optimal fiscal rule in a monetary union? Targeting the structural, the global budgetary deficit, or the public debt?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-21, December.
    14. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09j0h0g8tgo is not listed on IDEAS
    15. Creel, Jérôme & Hubert, Paul & Saraceno, Francesco, 2013. "An assessment of the Stability and Growth Pact reform in a small-scale macro-framework," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1567-1580.
    16. repec:hal:spmain:info:hdl:2441/eul7jlnf19iq8tdp0vlfv63n5 is not listed on IDEAS
    17. Marios Psychalis & Panagiotis Gournas & Nagia Grigorakou & Petros Dimitrakopoulos & George Stivachtis, 2020. "Fiscal Policy, Growth and Competitiveness in EMU: Evidence from Portugal and Greece," International Journal of Economics and Financial Issues, Econjournals, vol. 10(4), pages 18-24.

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