Larch, Martin; Van den Noord, Paul; Jonung, Lars - Volkswirtschaftliche Fakultät, … - 2010
for fiscal surveillance and fiscal policy coordination. This paper provides a diagnosis of how the SGP faired ahead and … unbalanced. It consists of (i) very specific provisions on how to conduct fiscal policy making in normal times with no effective … enforcement mechanisms, and of (ii) no or extremely tight provisions for really bad economic times, like the Great Recession. A …