Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/49909
Authors: 
de Haan, Jakob
Berger, Helge
Jansen, David-Jan
Year of Publication: 
2003
Series/Report no.: 
School of Business & Economics Discussion Paper: Economics 2003/16
Abstract: 
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. It is also examined whether big and small countries are likely to adhere to fiscal policy rules in place. Furthermore, the impact of the business cycle on fiscal policy outcomes is analysed. Finally, the proposals of the European Commission to strengthen the Pact are discussed.
Subjects: 
stability and growth pact
EMU
budget discipline
JEL: 
E61
E63
Document Type: 
Working Paper

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