EconStor >
Eberhard Karls Universität Tübingen >
Wirtschaftswissenschaftliche Fakultät, Universität Tübingen >
Tübinger Diskussionsbeiträge, Universität Tübingen >

Please use this identifier to cite or link to this item:
Title:Paradigmenwechsel der EU-Finanzpolitik? Der Stabilitätspakt auf dem Prüfstand PDF Logo
Authors:Buchmüller, Patrik
Marte, Andreas
Issue Date:2003
Series/Report no.:Tübinger Diskussionsbeitrag 267
Abstract:The Stability and Growth Pact (SGP) intends to increase fiscal prudence among the members of the European Monetary Union. This may be useful on grounds of political economy if national decision-making leads to inefficiently high public deficits. However, the SGP in its present form is not sufficiently stringent to prevent excessive deficits. Even worse, it is shown that its relevance is constantly eroded. To save the SGP sanctions have to be imposed if the nominal deficit criterion is violated. Relying on structurally adjusted deficits would make the SGP less transparent and reduce pressure on national governments to balance their budgets even further.
Subjects:European Monetary Union
Stability and Growth Pact
Public Deficits
Persistent Identifier of the first edition:urn:nbn:de:bsz:21-opus-18630
Document Type:Working Paper
Appears in Collections:Tübinger Diskussionsbeiträge, Universität Tübingen

Files in This Item:
File Description SizeFormat
379258803.pdf83.83 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.