Work

The Stability and Growth Pact - Not the Best but Better than Nothing: Reviewing the Debate on Fiscal Policy in Europe’s Monetary Union

Year: 2003

Type: preprint

Abstract: 'This paper aims to review the economic literature on the Maastricht deficit rule and the Stability and Growth Pact. The author tries to expose the contradictions and inconclusiveness of the debate, highlighting both the criticism and the defense of the fiscal policy regime in EMU. The paper is non-technical and seeks to provide an overview for a readership outside the economics profession. The concluding judgment is that the pact can be criticized on a number of grounds, but that the lack of a politically feasible alternative makes it a second best solution that should not be undermined in the present crisis.' (author's abstract)

Source: RePEc: Research Papers in Economics

Authors: Heipertz, Martin, Max-Planck-Institut fuer Gesellschaftsforschung, Koeln (Germany)

Institutions: Max Planck Society, Max Planck Institute for the Study of Societies

Language: German

Topic: European Monetary and Fiscal Policies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1515200259

Cites: 89

Cited by: 4

Related to: 10