Horáková, Šárka; Jahoda, Robert - In: Review of Economic Perspectives 14 (2014) 3, pp. 249-265
By joining the European Monetary Union (the “EMU”), member countries lost the ability to use monetary policy as a tool for macroeconomic regulation. The attention was then focused on regulation of fiscal policy and Stability and Growth Pact (the “SGP”) was the instrument agreed upon. The...
