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Fatas, Antonio - 2009

The paper provides and empirical characterization of fiscal policy in the euro area and in a group of twenty-two OECD … economies over the period from 1970 until 2007. Using the cyclically-adjusted fiscal balance we document that policy in the euro … policies. However, the component of the budget due to automatic stabilizers reacts stronger in the euro-area countries than in …

Persistent link: https://www.econbiz.de/10012463925

The Euro and the Stability Pact

Feldstein, Martin - 2005

This paper begins by discussing the inherent conflict between the simultaneous existence of a single currency for the countries of the European Economic and Monetary Union (EMU) and the independent fiscal policies of those countries. The Stability and Growth Pact was an attempt to reconcile that...

Persistent link: https://www.econbiz.de/10012467436

Does the EMU need a fiscal transfer mechanism?

Furceri, Davide - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 418-428

The aim of this paper is to investigate how the birth of a central fiscal authority or the creation of a fiscal transfer mechanism could improve the action of fiscal policy in terms of stabilization in the EMU. In particular, the paper examines the theoretical reasons to support this conclusion...

Persistent link: https://www.econbiz.de/10010491575

A simple proposal for a "debt-sensitive stability pact"

Saraceno, Francesco; Monperrus-Veroni, Paola - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 471-480

The main rationale for fiscal policy rules is the concern for long-term sustainability of public finances, that in a monetary union may affect the other members. Among many other criticisms, the Stability and Growth Pact (SGP) has been seen as contradictory or incomplete because it focuses on...

Persistent link: https://www.econbiz.de/10010491579

Germany after qualification for EMU : a disaggregated approach to the analysis of structural public finance developments

Kremer, Jana; Wendorff, Karsten - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 358-370

This paper analyses the structural developments underlying the evolution of public finances in Germany after qualification for EMU. For this purpose, we extend a disaggregated approach to cyclical adjustment in a way that allows us inter alia to distinguish the impact of discretionary fiscal...

Persistent link: https://www.econbiz.de/10010492277

How successful has the stability and growth pact been? : an empirical analysis

Hughes Hallett, Andrew; Lewis, John - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 392-404

joining the Euro were completely eroded. Growth accounting analysis reveals that the source of the problem was the reliance on …

Persistent link: https://www.econbiz.de/10010492280

Anmerkungen zur Koordinierung der makroökonomischen Politik in der WWU

Issing, Otmar - In: Vierteljahrshefte zur Wirtschaftsforschung 71 (2002) 3, pp. 312-324

Persistent link: https://www.econbiz.de/10001710165

Koordinierung der Geld- und Fiskalpolitik in der EWU

Hagen, Jürgen von; Mundschenk, Susanne - In: Vierteljahrshefte zur Wirtschaftsforschung 71 (2002) 3, pp. 325-338

Persistent link: https://www.econbiz.de/10001710166

Fiskalische Transfermechanismen und asymmetrische Schocks in Euroland

Belke, Ansgar; Baumgärtner, Frank - In: Vierteljahrshefte zur Wirtschaftsforschung 71 (2002) 3, pp. 384-399

Persistent link: https://www.econbiz.de/10001710190

Zur Zukunft des Stabilitäts- und Wachstumspaktes

Fritsche, Ulrich - In: Vierteljahrshefte zur Wirtschaftsforschung 73 (2004) 3, pp. 343-344

Persistent link: https://www.econbiz.de/10002452297