Similar Search Results

From Deficits to Debt and Back : Political Incentives Under Numerical Fiscal Rules

Buti, Marco - 2010

Under numerical fiscal rules, such as those underpinning EMU, governments have strong temptations to use accounting …

Persistent link: https://www.econbiz.de/10012716093

Cyclical Stabilisation Under the Stability and Growth Pact : How Effective are Automatic Stabilisers?

Brunila, Anne - 2009

It is widely recognised that fiscal policy will have greater responsibilities for cyclical stabilisation in the EMU …, given the loss of the monetary instrument at national level. At the same time, the EMU's budgetary framework emphasises the … stabilisation. Looking ahead, one of the challenges facing policy-makers will be how to design tax and welfare reforms which, while …

Persistent link: https://www.econbiz.de/10012721132

From Deficits to Debt and Back : Political Incentives Under Numerical Fiscal Rules

Buti, Marco - 2012

Under numerical fiscal rules, such as those underpinning EMU, governments have strong temptations to use accounting … credibility of EMU's fiscal rules. If properly implemented, the reformed Pact, which stresses durable adjustment and long …

Persistent link: https://www.econbiz.de/10013110665

ECB vs. Council vs. Commission : Monetary and Fiscal Policy Interactions in the EMU When Cyclical Conditions are Uncertian

Buti, Marco - 2008

This paper examines economic policy interactions in the Economic and Monetary Union when the assessment of cyclical conditions in real time is surrounded by uncertainty. On the basis of a simple stylised model it shows that with a Nash-type of interaction different views about the output gap on...

Persistent link: https://www.econbiz.de/10012769738

Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Buiter, Willem H. - 2006

Key medium- and longer-term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal-financial-monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate...

Persistent link: https://www.econbiz.de/10012782342

The Economic Case for Monetary Union in the European Union

Buiter, Willem H. - 1997

Differential requirements for seigniorage provide a weak case for retaining monetary independence. As regards adjustment to asymmetric shocks, nominal exchange rate flexibility is at best a limited blessing and at worst a limited curse. Absence of significant fiscal redistribution mechanisms...

Persistent link: https://www.econbiz.de/10014089435