Galí, Jordi; Perotti, Roberto - 2021
A popular view among economists, policymakers, and the media, is that the Maastricht Treaty and then Stability and … Growth Pact have significantly impaired the ability of EU governments to conduct a stabilizing fiscal policy and to provide … discretionary budget deficit over the period 1980-2002, using data on EMU countries and control groups of non-EMU EU countries and …