Description

TITLE The Stability and growth pact : the architecture of fiscal policy in EMU / ed. by Anne Brunila, Marco Buti, and Daniele Franco.
PUBLISHER/YEAR Houndmills, Basingstoke, Hampshire
New York
Palgrave
2001
PHYSICAL DESCRIPTION - xiv, 439 p. : ill. ; 23 cm.
BIBLIOGRAPHY Includes bibliographical records (p. 422-436) and index
ISBN 0333961455
UDC NUMBER 339.923

Copies

Location Address Count Shelf Status
Bibliotēka 01.2 1 339.923 On a shelf Available to order

Annotation


The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyze the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation.

Contents
PART 1: DOES THE EMU NEED FISCAL RULES
Does EMU Need a Stability Pact? - R.Beetsma
The Stability and Growth Pact: a delicate balance or an albatross? - M.B.Canzoneri & B.T.Diba

PART 2: WHERE DOES THE PACT COME FROM?
Genesis of a Pact - J.Stark
The Stability and Growth Pact: how did we get there? - D.Costello

PART 3: HOW DOES THE PACT WORK?
Main aspects of the working of the Stability and Growth Pact - A.J.Cabral
Fiscal surveillance under the pact: the stability and Convergence Programmes - J.Fischer & G.Giudice

PART 4: "CLOSE TO BALANCE OR IN SURPLUS": THE MEDIUM TERM BUDGETARY TARGETS
Setting mediumterm fiscal targets in EMU - M.J.Artis & M.Buti
Estimating prudent budgetary margins for EU countries: a simulated SVAR model approach - T.Dalsgaard & A.de Serres
The Stability and Growth Pact, will it ever be reached? - R.Barrell & K.Dury

PART 5: FISCAL POLICY COORDINATION UNDER THE PACT
Fiscal policy, automatic stabilisers and policy coordination in EMU - M.Viren
Should fiscal policy coordination go beyond the SGP? - S.Korkman

PART 6: PUBLIC DEBT UNDER THE STABILITY AND GROWTH PACT
Optimal debt under a deficit constraint - M.Rostagno, P.Hiebert & J.Perez-Garcia
How should the debt be managed? Supporting the Stability Pact - A.Missale

PART 7: WERE THERE POSSIBLE ALTERNATIVES?
Public investment, the stability Pact and the "Golden Rule" - F.Balassone & D.Franco
Achieving fiscal discipline through tradable deficit permits - A.Casella

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