Overview

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. This book is the definitive source of reference on the SGP for academics, policy makes and economists.

Full Product Details

Author:   A. Brunila ,  M. Buti ,  D. Franco
Publisher:   Palgrave Macmillan
Imprint:   Palgrave Macmillan
Dimensions:   Width: 14.00cm , Height: 3.00cm , Length: 21.60cm
Weight:   0.726kg
ISBN:  

9780333961452

ISBN 10:   0333961455
Pages:   439
Publication Date:   20 September 2001
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

"List of Tables List of Figures Acknowledgements Notes on the Contributors Introduction; A.Brunila, M.Buti & D.Franco 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 medium-term 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 CO-ORDINATION UNDER THE PACT Fiscal policy, automatic stabilisers and policy co-ordination in EMU; M.Virén Should fiscal policy co-ordination 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.Pérez-Garcìa 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 Glossary References Index"

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Author Information

ANNE BRUNILA is Economic Advisor the European Commission, Directorate-General for Economic and Financial Affairs. She is on leave of absence from the Bank of Finland, where she is head of the Economic Policy Division. - MARCO BUTI is responsible for public finances in the EMU at the European Commission, and is visiting Professor at the European University Institute. He has written a number of books and articles on EMU, fiscal policy, welfare state, taxation and European unemployment. - DANIELE FRANCO is Director of the Public Finance Division in the research department at the Bank of Italy, and previously served as Economic Adviser at the European Commission. He has written a number of books and articles on fiscal policy, public pensions, public expenditure, generational accounting and taxation issues.

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