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Reform of the Stability and Growth Pact: Which changes for the governments?
Journal of Government and EconomicsIn 2020, in the context of the COVID-19 health crisis, the rules of the Stability and Growth Pact were temporarily suspended in the European Union. Nevertheless, the European Council and the European Parliament reached an agreement for the reactivation ...
Séverine Menguy
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Reform of the Stability and Growth Pact [PDF]
Financial Theory and Practice, 2006 In conditions of the single monetary policy and the decentralised fiscal policy in the European Monetary Union (EMU) it is necessary for the coordination of macroeconomic policy to be strengthened.
Ana Šabić
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The Reform and Implementation of the Stability and Growth Pact [PDF]
SSRN Electronic Journal, 2006 Fiscal rules are instrumental for restraining deficit and spending biases in euro area Member States that could threaten the smooth functioning of Economic and Monetary Union (EMU). Ideally, fiscal rules should combine characteristics such as sufficient flexibility to allow for appropriate policy choices with the necessary simplicity and enforceability
Richard Morris +2 more
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Politics and Governance, 2021 Fiscal policy surveillance, including the possibility to impose financial sanctions, has been an important feature of Economic and Monetary Union since its inception.
Martin Sacher
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Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19 [PDF]
Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 2022 This research aims to provide an empirical assessment of the relationship between fiscal policy sustainability factors, like fiscal deficit and economic growth in the Western Balkan countries and East European Union Countries, using panel-level data ...
Bardhyl Dauti, Shiret Elezi
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European Union Politics, 2022 The EU reformed the regulatory rules of the Eurozone in response to the European sovereign debt crisis, empowering the EU to more effectively enforce the Stability and Growth Pact (SGP), which is designed to prevent debt crises.
Joshua C Fjelstul
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The End of the Stability and Growth Pact? [PDF]
SSRN Electronic Journal, 2003 This paper evaluates the Stability and Growth Pact. After examining the rules in place and the experience so far, the Pact is analysed from a political economy perspective, focusing on the choice for so-called soft law and drawing inferences from characteristics of successful fiscal rules at the state level in the United States.
Jakob de Haan +2 more
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An Analysis of the Stability and Growth Pact
The Economic Journal, 1999 We use a stylised model to analyse the Stability and Growth Pact for countries that have formed the European Monetary Union (EMU). In our model, shortsighted governments fail to internalise the consequences of their debt policies for the common inflation rate fully.
Beetsma, R.M.W.J., Uhlig, H.
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Journal of Innovations and Sustainability, 2018 The so-called Stability and Growth pact was created in the 1990s with the idea of imposing upon member states (MS) which were already part of the Eurozone budgetary requirements.
Venelin Terziev +2 more
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Reforming the Stability and Growth Pact
IMF Policy Discussion Papers, 2005 A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules, where few changes seem necessary.
Anthony M Annett +2 more
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