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dc.contributor.authorWenzel, Heinz-Dieteren
dc.contributor.authorLackenbauer, Jörgen
dc.contributor.authorBrösamle, Klaus J.en
dc.date.accessioned2009-01-29T15:00:19Z-
dc.date.available2009-01-29T15:00:19Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/22484-
dc.description.abstractMonetary policy and fiscal policy are connected in various ways. This is why the adoption of the Euro as a common European currency has been accompanied by the setup of the European Union's Stability and Growth Pact, a framework for the coordination of the EU countries' fiscal policies. In this paper, we provide a short overview of the SGP's history of origins and the degree to which the EU Member States adhered to it. Further, we analyse what effects public debt and public deficits have and whether, after all, public debt should be limited in one way or the other. Along these lines, the case for budgetary policy coordination in the special context of the Economic and Monetary Union is presented. After looking at the current SGP framework, we shed light on its main shortcomings and present various reform proposals, all of which are critically questioned. Finally, we present a case for a more flexible country-by-country approach to the interpretation of the deficit criterion (based on some simple algebra).en
dc.language.isoengen
dc.publisher|aBamberg University, Bamberg Economic Research Group on Government and Growth (BERG) |cBambergen
dc.relation.ispartofseries|aBERG Working Paper Series on Government and Growth |x50en
dc.subject.jelH87en
dc.subject.jelE61en
dc.subject.jelD62en
dc.subject.jelH6en
dc.subject.jelE62en
dc.subject.ddc330en
dc.subject.keywordStability and Growth Pact (SGP)en
dc.subject.keywordpublic debten
dc.subject.keywordpublic deficitsen
dc.subject.keywordfiscal policyen
dc.subject.keywordpolicy coordinationen
dc.subject.keywordMaastricht criteriaen
dc.subject.stwEU-Stabilitätspakten
dc.subject.stwReformen
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwHaushaltsdefiziten
dc.subject.stwInternationale wirtschaftspolitische Koordinationen
dc.subject.stwEU-Staatenen
dc.titlePublic Debt and the Future of the EU's Stability and Growth Pact-
dc.typeWorking Paperen
dc.identifier.ppn477807933en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bamber:50en

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