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Do EU fiscal rules support or hinder counter-cyclical fiscal policy?
Larch, Martin; Orseau, Eloïse; Van der Wielan, Wouter - 2020
shocks, discretionary measures remain ill-timed from a stabilisation perspective even when observable and politically more …
Persistent link: https://www.econbiz.de/10012306605
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Enforcement of Fiscal Rules : Lessons from the Fiscal Compact
Larch, Martin; Busse, Matthias; Jankovics, László - 2021
In 2012, 22 EU countries signed the Fiscal Compact, an intergovernmental agreement aimed at backing EU fiscal rules with national arrangements. The main objective of the Compact was to strengthen compliance. Based on a survey of national independent fiscal institutions, we take a closer look at...
Persistent link: https://www.econbiz.de/10013311730
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Do EU Fiscal Rules Support or Hinder Counter-Cyclical Fiscal Policy?
Larch, Martin; Orseau, Eloise; der Wielen, Wouter van - 2021
shocks, discretionary measures remain ill-timed from a stabilisation perspective even when observable and politically more …
Persistent link: https://www.econbiz.de/10013315041
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Numerical Compliance with EU Fiscal Rules: Facts and Figures from a New Database
Larch, Martin; Malzubris, Janis; Santacroce, Stefano - In: Intereconomics 58 (2023) 1, pp. 32-42
EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...
Persistent link: https://www.econbiz.de/10014334679
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Numerical compliance with EU fiscal rules : facts and figures from a new database
Larch, Martin; Malzubris, Janis; Santacroce, Stefano - In: Intereconomics : review of European economic policy 58 (2023) 1, pp. 32-42
EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents a new database that tracks numerical compliance with the four main rules of the Stability and Growth Pact starting in 1998. Our assessment of numerical compliance abstracts from the many exceptions and...
Persistent link: https://www.econbiz.de/10014233317
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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
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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
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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
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Do EU fiscal rules support or hinder counter-cyclical fiscal policy?
Larch, Martin; Orseau, Eloïse; Van Der Wielen, Wouter - 2020
ill-timed from a stabilisation perspective even when observable and politically more meaningful indicators of the cycle …
Persistent link: https://www.econbiz.de/10012206018
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Fiscal policy and the assessment of output gaps in real time : an exercise in risk management
Larch, Martin; Cugnasca, Alessandro; Kumps, Diederik; … - 2019
stabilisation measures, so as to reduce the risk of running pro-cyclical policies. We consider different preferences for avoiding …
Persistent link: https://www.econbiz.de/10011999053