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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

The gains from early intervention in Europe : fiscal surveillance and fiscal planning using cash data

Hughes Hallett, Andrew; Kuhn, Moritz; Warmedinger, Thomas - 2010

This paper does two things. First it examines the use of real time inter-annual cash data and the role of early interventions for improving the monitoring of national fiscal policies and the correction of fiscal indiscipline. Early warnings are important because they allow us to spread the...

Persistent link: https://www.econbiz.de/10003986633

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