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dc.contributor.authorOhr, Renateen_US
dc.contributor.authorSchmidt, Andréen_US
dc.description.abstractThe Stability and Growth Pact is one of the constituent pillars of the European Monetary Union. Though, meanwhile it is obvious that it will not be able to limit fiscal deficits of the member states. For this reason in this paper Coase's thinking in institutional alternatives is applied to find a better way to increase the incentives for more fiscal stability. We present and discuss tradable deficit permits comprising market-orientated incentives for fiscal stability. It is shown that tradable deficit permits are superior from a politico-economical view as well as with regard to allocative efficiency.en_US
dc.publisherUniv., Volkswirtschaftliches Seminar Göttingenen_US
dc.relation.ispartofseriesDiskussionsbeiträge aus dem Volkswirtschaftlichen Seminar der Universität Göttingen 128en_US
dc.subject.keywordstability and growth pacten_US
dc.subject.keywordtradable deficit permitsen_US
dc.subject.keywordmonetary unionen_US
dc.titleHandelbare Verschuldungsrechte zur Sicherung fiskalischer Stabilität in der Währungsunion?en_US
dc.typeWorking Paperen_US
Appears in Collections:Diskussionsbeiträge aus dem Volkswirtschaftlichen Seminar, Universität Göttingen

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