Franco, Daniele; Balassone, Fabrizio; Zotteri, Stefania - 2007
The reliability of EMU's fiscal indicators has been questioned by recent episodes of large upward deficit revisions …. This paper discusses the causes of such revisions in order to identify ways to improve monitoring. The computation of EMU … nominal debt (the other fiscal indicator used in EMU) can reduce the scope for window dressing. Simple comparison of deficit …