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A key element of the European reform agenda is to simplify the EU fiscal governance framework by moving towards a …. This paper puts forward an in-depth analysis of two alternative fiscal performance indicators currently used in the EU … the EU fiscal governance framework has advantages over the change in the structural balance. However, it still has scope …
Persistent link: https://www.econbiz.de/10012800643
The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...
Persistent link: https://www.econbiz.de/10012650770
The euro area, like many other advanced economies, has entered an era of drastic demographic change. Without appropriate policy responses, population ageing in the euro area is posing formidable challenges for potential growth, monetary policy and public finances. This paper examines - from a...
Persistent link: https://www.econbiz.de/10013286706
This paper reviews developments in fiscal rules in the European Union (EU) from the entering into force of the Treaty … that fiscal positions in the EU and the euro area are now more favourable than they would have been in the absence of the …
Persistent link: https://www.econbiz.de/10012063785
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The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...
Persistent link: https://www.econbiz.de/10011634439