| Description |
xvi, 89 pages : illustrations ; 25 cm |
| Series |
Monitoring European integration ; 13 |
|
Monitoring European integration ; 13
|
| Contents |
Machine derived contents note: MEI Steering Committee -- List of Tables -- List of Figures -- List of Boxes -- Acknowledgements -- Preface -- Executive Summary -- -- 1 The Stability and Growth Pact - Design and Recent -- Experiences -- 1.1 Europe's fiscal framework under stress -- 1.2 Sustainability: why EMU needs a fiscal framework -- 1.3 The fiscal framework of EMU -- 1.3.1 The Excessive Deficit Procedure -- 1.3.2 The Stability and Growth Pact -- -- 2 Sustainability and Optimality of Public Finances -- 2.1 Introduction -- 2.2 Sustainable public finances -- 2.3 Optimal fiscal policies -- 2.4 Fiscal coordination and monetary policy -- 2.5 Interest rate and government spending spill-overs -- 2.6 Why are governments tempted to follow socially undesirable -- fiscal policies? -- 2.7 Conclusion -- -- 3 Experiences wiih ithe Siabiliiy and Growth Pact -- 3.1 Introduction -- 3.2 Fiscal policy in practice: deficit reductions -- 3.2.1 The budgetary targets -- 3.2.2 How much budget discipline has the SGP achieved? -- 3.2.3 Fiscal policy stance after qualifying for EMU: 1999 -- 3.2.4 Deficit changes in a boom period: 2000 -- 3.2.5 A year with weak growth effects: 2001 -- 3.2.6 The recession effects in 2002 -- 3.3 Debt reductions and the sustainability of public finances -- 3.4 Growth, sustainability and the quality of public finances -- 3.4.1 Have fiscal consolidations undermined growth? -- 3.4.2 Has the SGP reduced the stabilizing effect of public finances? -- 3.5 Does sustainability need growth? -- 3.5.1 Long-term growth and sustainability in the EU -- 3.5.2 Quality of public finances and long-term growth in the EU -- 3.6 Conclusions -- -- -- -- -- 4 Dead Rules or Living Bodies to Maintain Sustainability -- 4.1 Introduction -- 4.2 What is an optimal fiscal rule? -- 4.3 Is the SGP an optimal fiscal rule? -- 4.3.1 The European Commission's proposal -- 4.3.2 Other proposals for modifying the numerical rules -- 4.3.3 Potential impact of the different proposals -- 4.4 The limits of dead rules -- 4.5 Living bodies replacing dead rules: the role of institutions -- -- 5 The Sustainability Council for the Euro -- 5.1 Introduction -- 5.2 A clear mandate: safeguarding sustainability -- 5.3 Method of operation: the assessment process -- 5.4 Credible enforcement -- 5.5 Independence, accountability and transparency -- 5.6 Composition and appointment procedure -- 5.7 Institutional alternatives -- 5.7.1 The Sustainability Council as an agenda setter -- 5.7.2 National Sustainability Councils -- -- 6 Conclusions -- -- Bibliography |
| Bibliography |
Includes bibliographical references (pages 83-89) |
| Subject |
European Union.
|
|
Fiscal policy -- European Union countries.
|
| SUBJECT |
European Union countries -- Economic policy.
http://id.loc.gov/authorities/subjects/sh2008114978
|
| Author |
Hagen, Jürgen von.
|
|
Hughes Hallett, Andrew.
|
|
Fatás, A. (Antonio)
|
|
Centre for Economic Policy Research (Great Britain)
|
| LC no. |
2004426935 |
| ISBN |
1898128774 |
|
