NDLI: The Hidden Structural Features of the Fiscal Rule: A European Saga

Content Provider	Springer Nature Link
Author	Warin, Thierry
Copyright Year	2005
Abstract	This paper addresses the question of the reform of the Stability and Growth Pact (SGP). More and more authors and policymakers are bringing to light the negative impacts of the European deficit rule on the countries and their ability to respond asymmetric economic shocks, and some are asking for a redefinition of the pact. If the focus of the SGP is only fiscal, and two of the biggest countries in Europe have failed to abide by the pact since its implementation, it seems clear that the SGP needs at least a re-examination. Yet, on the contrary, if we introduce into the analytical framework the SGP’s impacts on the European Union’s structural policies, the conclusions are far different. Abolishing the SGP could hinder the presently up-to-date convergence prospective. This paper proposes a theoretical analysis of the SGP that emphasizes a new feature of the SGP: a strong incentive to structural reforms.
Starting Page	29
Ending Page	38
Page Count	10
File Format	PDF
ISSN	10830898
Journal	International Advances in Economic Research
Volume Number	11
Issue Number	1
e-ISSN	1573966X
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2005-03-03
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Policy Objectives; Policy Designs and Consistency; Policy Coordination Fiscal Policy Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy International Economic Order and Integration International Policy Coordination and Transmission Economic Growth International Economics Macroeconomics/Monetary Economics Microeconomics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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