Non Respect of Stability and Growth Pact (% of GDP)
Reform of the Stability and Growth Pact
... One of the causes of this state of affairs was probably the fact that fiscal consolida- tion had not been fully completed by the time the EMU started working. In the period from the establishment of the criteria for the ...
11
Italy and the Stability and Growth Pact
... the GDP in 2010 according to the OECD country statistical profile 7 and a low growth rate, people are starting to realise that Italy will have a difficult time paying the ...
30
The Stability and Growth Pact - Essential and Unfeasible
... Studies & Analyses No. 275 – Jacek Rostowski the medium-term requirement of achieving fiscal balance over the economic cycle and the long term requirement of limiting public debt to less than 60% of GDP. As we ...
16
The Stability and Growth Pact Time to Rebuild!
... Generally the relationship between the cyclical stance of fiscal policy and the level of indebtness is not yet well understood. In particular the question which needs to be addressed is to which extend can the CAB be ...
44
Discipline and Flexibility - The Stability and Growth Pact
... of GDP in 2015 and 98,5% of GDP in 2016, targets estimated by the Commission in its 2015 ...several growth- enhancing structural reforms implementing the country specific recommendations (CSRs) ...
37
The stability and growth pact : an eventful history
... Despite these extensions to the procedure, the Council confi rms the general principle that excessive defi cits must be corrected by no later than the year after they are iden- tifi ed (3) , but the number of exceptions to ...
17
Stability (and Growth) Pact and Monetary Policy.
... Since current expenditure, such as public-sector wages or unemployment benefits, tend to be fixed in advance, government are often forced to slash public investment – the most flexible part of the budget – to cut the ...
5
The reform and implementation of the Stability and Growth Pact
... 6 ECB Occasional Paper No. 47 June 2006 fiscal policies are prone to deficit and spending biases. Evidence for such biases can clearly be seen in the fiscal performance of most industrialised countries in recent decades, ...
51
Stability and Growth Pact An Overview of the Rules
... sustainable growth provided that the the deviation from the MTO or the adjustment path does not exceed ...the GDP, the MTO is reached within the four-year programme period and an appropriate safety margin ...
10
The Future of the European Growth and Stability Pact
... the Stability and Growth Pact limit the conduct of fiscal policy? I will now turn to the last question I should like to ...the Stability and Growth Pact impose unacceptable ...
10
Non Keynesian effects of Government Spending: Some implications for the Stability and Growth Pact
... the Stability and Growth Pact, the country has to keep the 3% deficit restriction and a budget “close to balance or in surplus” in the medium ...
30
How reliable are the statistics for the Stability and Growth Pact?
... the respect of specific ceilings or targets, it is necessary to take those errors explicitly into ...of GDP, but remains so close to it that there is a significant risk that the deficit will have to be ...
42
Pension Systems, Ageing and the Stability and Growth Pact
... of GDP to balance or surplus, with a more ambitious target for high debt and low potential growth countries and vice versa (ECOFIN Council, ...potential growth could in principle be linked to ...
69
Pension Systems, Ageing and the Stability and Growth Pact
... spending growth, and move on to setting proper targets for the debt and deficit only on the basis of reformed ...wage growth (an example is Poland where the GDP share of pension expenditure is ...
66
The Impact of the Stability and Growth Pact on Real Economic
... the Stability and Growth ...output growth with that of increase in current public expenditure but finds a positive correlation of growth with the rate of increase in public capital spending, ...
19
Should Europe Get Rid of the Stability and Growth Pact?
... Hence, getting rid of the SGP in the next years may be counterproductive since it provides Europe with an incentive to work on the structure of its economies. However, is it in the interest of Europe to keep the SGP in ...
25
The stability and growth pact: lessons from the great recession
... In view of the large degree of uncertainty surrounding both output gap estimates and tax elasticities, the opportunities offered by economic good times were generally ascertained only when it was too late, with the ...
53
Public Debt and the Future of the EU's Stability and Growth Pact
... and growth-specific fiscal ...real GDP growth, inflation and public debt differ significantly from those of the old members, due to their transition process and catching-up ...
53
Implementing the stability and growth pact: enforcement and procedural flexibility
... the GDP-shares of the public sector in advanced economies and the chances that incumbent governments in democratic countries remain in office after ...second-period GDP exceeds first-period GDP by ...
57
Could the Stability and Growth Pact Be Substituted by the Financial Markets?
... on GDP and the gross public debt as share on GDP on the 10-year government bond yields was significant in most specifications and was estimated to be around ...
32