| Description |
1 online resource (xv, 219 pages) |
| Contents |
Introduction -- Fiscal Federalism in the European Union: How Far Are We? / R.H. Alves & O. Afonso -- Is there Compatibility between the Stability and Growth Pact and Automatic Fiscal Stabilisers? / S. Rostaing-Paris -- Stabilization Capacity and Fiscal Policy in EMU/ J.U. Gonz̀lez and M.J.A. Ferǹndez -- Fiscal Adjustment and Composition of Public Expenditures in EMU / J. Ferreiro, M.T. Garc̕a-del-Valle and C. Gomez -- Public Capital and Economic Growth: An Empirical Spurious Link? / G. Poilon -- Has France Become a Deficit Running Country? / J. Creel, G. Gilbert and T. Madis -- How to Deal with Economic Divergences in EMU? / C. Mathieu and H. Sterdyniak -- A Scheme to Coordinate Monetary and Fiscal Policies in the Euro Area /C. Panico and M.V. Sùrez |
| Summary |
Recent times have seen a downgrading of the relevance of fiscal policy, as a result of both the current need to reduce high levels of public deficit and debt, and the dominance of neoclassical theories. The institutional framework and the rules of fiscal policy operating in the European Union are built upon this theoretical basis. The Maastricht Treaty has imposed the reduction of fiscal imbalances as the main objective of national fiscal policies. The fear for a relaxation of this fiscal discipline has then led to the approval of the Stability and Growth Pact (SGP), which was then reformed in 2005, in order to give more flexibility to national fiscal policies. More recently, the world-wide turmoil in the financial markets has generated support for a high level of fiscal activism, in order to alleviate the negative impact on the economy. Criticisms of the current framework of fiscal policy in the European Union are rising. This book offers a comprehensive analysis of current national fiscal policies in the European Union and European Monetary Union, and provides insights into the consequences of these fiscal policies on economic activity. With contributions from a range of experts, the book focuses on the coordination problems between the single monetary policy and national fiscal policies, and the negative impact on the capacity of fiscal policy to correct short-term economic fluctuations and to accelerate economic growth in the long-term in European economies. This book is an essential read for all interested in the role of fiscal policy in the European Union |
| Notes |
Includes index |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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Print version record |
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digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Fiscal policy -- European Union countries
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POLITICAL SCIENCE -- Economic Conditions.
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BUSINESS & ECONOMICS -- Economics -- Macroeconomics.
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Fiscal policy
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Finanspolitik -- EU-länderna.
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European Union countries
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| Form |
Electronic book
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| Author |
Ferreiro, Jesus.
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Fontana, Giuseppe, 1968-
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Serrano Pérez, Felipe.
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| ISBN |
9780230228269 |
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0230228267 |
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9786612260070 |
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6612260076 |
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