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From the stability pact to ESM : what next?

Buch, Claudia M. - 2012

Europe is struggling with the resolution of the severe debt crisis and is in the process of overhauling its institutional set up. One element of the reform agenda is the European Stability Mechanism (ESM) which is intended to provide liquidity assistance to countries in case financial stability...

Persistent link: https://www.econbiz.de/10009751305

The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

proposes the introduction of the traditional public finance golden rule into the EU/Eurozone fiscal framework (Stability and … (SWP) und Fiskalpakt(FP) der EU/Eurozone. Eine solche Regel würde die öffentlichen (Netto-)Investitionen in geeigneter … Finanzpolitik insgesamt größere Spielräume einräumen und die öffentlichen Investitionen als besonders wachstumsrelevante öffentliche …

Persistent link: https://www.econbiz.de/10011477456

Spillover Effects of Fiscal Policy in EMU : A Misconception behind the Stability Pact?

Huart, Florence - 2020

This paper extends the Mundell-Fleming model to a monetary union between two countries that are different with regard to the determinants of aggregate demand, demand for money, foreign trade, price and wage adjustment. Depending on these national disparities in structural parameters, a fiscal...

Persistent link: https://www.econbiz.de/10012838538

Proposals for the reform of EU fiscal rules

Ventouris, Nikos; Palaiodimos, Georgios - 2022

The aim of this paper is to contribute to the ongoing debate regarding the reform of the EU fiscal framework, with a special focus on fiscal sustainability for Greece. Our key policy proposals for the EU fiscal rules draw on lessons from past experience, the conclusions of relevant studies and...

Persistent link: https://www.econbiz.de/10014077756

Reform of the Stability and Growth Pact : which changes for the governments?

Menguy, Séverine - In: Journal of government and economics : JGE 15 (2024), pp. 1-11

In 2020, in the context of the COVID-19 health crisis, the rules of the Stability and Growth Pact were temporarily suspended in the European Union. Nevertheless, the European Council and the European Parliament reached an agreement for the reactivation of these rules in 2024. A simple analytical...

Persistent link: https://www.econbiz.de/10015130231

Economic policy coordination in the EMU : from Maastricht via SGP to the fiscal pact

Mortensen, Jørgen - 2013

The present paper first takes a step backwards with an attempt to situate the adoption of this Treaty in discussion of the SGP and the "Maastricht criteria" (the criteria for EMU membership fixed in the Maastricht Treaty) in a longer perspective of the sharing of competences for macroeconomic...

Persistent link: https://www.econbiz.de/10009789938

Austerity in the Euro area : the sad state of economic policy in Germany and the EU

Truger, Achim - 2013

The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

Persistent link: https://www.econbiz.de/10009756285

Fiscal rules and government size in the European Union

Mierau, Jochen O.; Andreu, Eduard Suari - 2014

This paper studies the impact of national fiscal rules on government size as measured by the ratio of government expenditures to gross domestic product. We develop a model of the budgetary process and show that a common pool problem may arise which can be mitigated through fiscal rules. We test...

Persistent link: https://www.econbiz.de/10010256800

Modelling monetary and fiscal governance in the wake of the sovereign debt crisis in Europe

Herzog, Bodo - In: Economies : open access journal 4 (2016) 2, pp. 1-11

supranational monetary union. Finally, I develop policy recommendations for the ongoing debate in the Eurozone. …

Persistent link: https://www.econbiz.de/10011499402

Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery

Truger, Achim - 2015

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of tightening the fiscal constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in this study would be one important element of the...

Persistent link: https://www.econbiz.de/10011336549