The economic crisis which started in 2008 led to a strong rise in public debts. The sovereign debt crisis in euro area southern countries broke the unity of the euro area and weakened the ?single currency? concept. The paper shows that this situation is not due to a lack of fiscal discipline in...

The public finances crisis has brought binding fiscal rules proposals back to the forefront. The paper analyses their justifications and specifications, either in a classical or in a Keynesian framework. There is no evidence that public deficits were caused by fiscal indiscipline in recent years...

The public finances crisis has brought binding fiscal rules proposals back to the forefront. The paper analyses their justifications and specifications, either in a classical or in a Keynesian framework. In the recent period there is no evidence that public deficits were caused by fiscal...

International relocation has become a topical issue in recent months, in France as in Europe. The debate is not new, but while it was focusing 12 years ago on traditional industries and trade with emerging Asia, it includes now higher value-added goods and trade with CEEC?'s. The article deals...

According to the NAK, Keynesian fiscal stabilisation policies have no favourable impact on output. This view is widely spread in Europe where public deficits and debts are judged excessive, which would raise interest rates and depress output (private agents anticipating future higher taxes)....