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Stability Pact for SEE

An Analysis of the Stability Pact

An Analysis of the Stability Pact

... a Stability Pact has emerged in the public debate now that the date for EMU has become ...a Stability Pact would only distort debt policy), in an EMU debt would be suboptimally high even from ...

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The Euro and the Stability Pact

The Euro and the Stability Pact

... the Stability Pact’s constraint on budget deficits and how they are seeking to undermine it by changing the rules ...the Stability Pact and leaves the way open to much larger sustained ...

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STABILITY PACT Strasbourg

STABILITY PACT Strasbourg

... A regional perspective on the history and the shared problems of developing new ways of teaching seem to have become the basic way of tackling issues in the work of the Council of Europe under the Stability ...

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The Euro and the Stability Pact. Martin Feldstein *

The Euro and the Stability Pact. Martin Feldstein *

... the Stability Pact’s constraint on budget deficits and how they are seeking to undermine it by changing the rules ...the Stability Pact and leaves the way open to much larger sustained ...

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The Stability Pact and Feedback Policy Effects

The Stability Pact and Feedback Policy Effects

... Abstract: We use a two-country dynamic model in a monetary union in which we introduce a wealth private behaviour. We study the implications of public debt on monetary and fiscal policies in the short and the long run. ...

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Maastricht Criteria versus Stability Pact

Maastricht Criteria versus Stability Pact

... Abstract It is generally believed that fiscal consolidations should occur prior to a country’s admission to the European Monetary Union (EMU). This paper argues that the fiscal Maastricht Criteria require badly timed, ...

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An Alternative Stability Pact for the European Union

An Alternative Stability Pact for the European Union

... An alternative full employment, growth and stability pact would, thus, involve major changes to the operations of the ECB. We have argued for a change in the objectives set for the ECB, and a recognition of ...

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"An Alternative Stability Pact for the European Union"

"An Alternative Stability Pact for the European Union"

... An alternative full employment, growth and stability pact would, thus, involve major changes to the operations of the ECB. We have argued for a change in the objectives set for the ECB, and a recognition of ...

12

The domestic stability pact in Italy: a rule for discipline?

The domestic stability pact in Italy: a rule for discipline?

... Finally, a spending curb was instituted both at federal and at regional level so as to achieve the general government budget balance. Consensus and cooperation also play a major role in another country in which formal ...

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A Simple Proposal for a 'Debt-Sensitive Stability Pact'

A Simple Proposal for a 'Debt-Sensitive Stability Pact'

... the Stability Pact, states what deviations from the 3% budget deficit target are acceptable, and gives the Council the (discretionary) right to sanction the countries not respecting ...

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The domestic stability pact in Italy: a rule for discipline?

The domestic stability pact in Italy: a rule for discipline?

... Finally, a spending curb was instituted both at federal and at regional level so as to achieve the general government budget balance. Consensus and cooperation also play a major role in another country in which formal ...

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Fiscal Discipline as a Social Norm: The European Stability Pact

Fiscal Discipline as a Social Norm: The European Stability Pact

... The Pact was designed assuming that governments would accumulate surpluses in good times to allow the operation of automatic stabilizers in bad times 8 ...the Pact was signed at the end of a long phase of ...

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Breaking the stability pact: was it predictable?

Breaking the stability pact: was it predictable?

... It is apparent that each national fiscal policy maker has an incentive to act as a free rider, namely to behave non-cooperatively while the other policy makers continue to behave cooperatively. In this case, indeed, the ...

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The Stability Pact - Rationales, Problems, Alternatives

The Stability Pact - Rationales, Problems, Alternatives

... the Pact, can mitigate these conflicts, and what such revisions or alternatives might ...the Pact in its current form, and we integrate various points discussed in the literature into a coherent analytical ...

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The Future of the European Growth and Stability Pact

The Future of the European Growth and Stability Pact

... the Pact, but it was accepted that the assessment of the fulfilment of the balanced budget requirement would take into account “country-specific ...the Pact and its implementation procedures, as recently ...

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Automatic Stabilisation, Discretionary Policy and the Stability Pact

Automatic Stabilisation, Discretionary Policy and the Stability Pact

... To sum up, countries are quite evenly distributed across the four regimes and, except in Austria, Germany and Italy, the progressivity of the tax system decreased between 1998 and 2001 and with it, the efficiency of ...

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Public investment, the Stability Pact and the ‘golden rule’

Public investment, the Stability Pact and the ‘golden rule’

... Various techniques have been used to measure the impact of public capital. Direct estimation of a production function dates back to Mera (1973) and Ratner (1983). 10 Using this approach, Aschauer (1989) revived the ...

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Risk Sharing and Moral Hazard with a Stability Pact

Risk Sharing and Moral Hazard with a Stability Pact

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The fiscal stability impact of monetary unions - looking beneath the Stability Pact debate

The fiscal stability impact of monetary unions - looking beneath the Stability Pact debate

... inflation would be more credible 5 . This would provide an opposite view to the SGP intuition of lower fiscal stability with a monetary union. However, with an increasing number of failed fixed exchange rate ...

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Moldova: Analysis of the Stability Pact Self-Assessment Studies

Moldova: Analysis of the Stability Pact Self-Assessment Studies

... region, while further support from the external factors will be necessary to ensure such stability. Parliamentary control of the security sector The authors of the self-assessments underlined that the creation of ...

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