It is widely argued that Europe's unified monetary policy calls for international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...

Increased reliance on national frameworks to improve compliance with EU standards of fiscal soundness calls for coordination among EU member states. We focus on the rationale and forms of coordination among national independent fiscal institutions (IFIs). IFIs aim at strengthening governments’...

The chapter revisits the potential contribution of politically independent fiscal watchdogs (“Fiscal Councils”, or FCs) to improve fiscal performance. A simple theoretical model first illustrates that FCs cannot credibly exert a direct constraint on day-to-day policy choices. It is by...

The Swedish referendum in September 2003 on adopting the euro or keeping the domestic currency, the krona, represents a unique event to examine the public’s perceptions of the benefits and costs of monetary unification. The voters chose between the two polar cases of exchange rate regimes:...

The failure of key EU Member States to respect the provisions of the Stability and Growth Pact (SGP) a few years after its inception triggered a heated debate on how to reform the framework of fiscal policy coordination in the Economic and Monetary Union (EMU). This paper analyzes 101 reform...

While current instruments of EU economic policy coordination helped stave off a full-scale depression, the post-2007 global financial and economic crisis has revealed a number of weaknesses in the Stability and Growth Pact, the EU framework for fiscal surveillance and fiscal policy coordination....

Ingemar Ståhl was a productive and imaginative economist who was professor of economics at Lund University 1971–2005. His intellectual curiosity gave him a wealth of ideas that he applied to a wide range of issues, for example defense, social insurance, education, housing, labor markets,...

The purpose of this systematic review and meta-analysis is to determine the effect of lockdowns on COVID-19 mortality based on available empirical evidence. Lockdowns are defined as the imposition of at least one compulsory, non-pharmaceutical intervention (NPI). We employ a systematic search...