Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/18054 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorBrück, Tilmanen
dc.contributor.authorCors, Andreasen
dc.contributor.authorZimmermann, Klaus F.en
dc.contributor.authorZwiener, Rudolfen
dc.date.accessioned2009-01-28T15:39:04Z-
dc.date.available2009-01-28T15:39:04Z-
dc.date.issued2002-
dc.identifier.urihttp://hdl.handle.net/10419/18054-
dc.description.abstractThe standardisation of the European systems of national accounts has progressed significantly in recent years. Some room for interpretation remains in regard to some accounting standards, the periodicity of the data, and the quality of the forecasts of budget deficits. Yet national accounts data of the eurozone countries are now a reliable basis for macroeconomic policy decisions. The stability and growth pact of the eurozone countries relies heavily on one indicator of fiscal discipline, the budget deficit as a share of gross domestic product. Drawing from simulation evidence of the German economy, it is argued that fulfilling the deficit target is no guarantee for achieving output stabilisation. The pact hence fails to internalise the externalities arising from a decentralised fiscal policy in the European monetary union. The deficit target could be replaced with an expenditure target. Given the macroeconomic policy objectives of the euro economies it would be more appropriate to hand the supervision of an amended stability pact to an independent council of economic experts. Such council could assess the macroeconomic environment more carefully and could have the authority to caution and fine fiscally irresponsible eurozone governments.en
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x318en
dc.subject.jelE62en
dc.subject.jelE37en
dc.subject.jelC82en
dc.subject.jelF42en
dc.subject.ddc330en
dc.subject.keywordSimulationen
dc.subject.keywordfiscal policyen
dc.subject.keywordinternational policy coordinationen
dc.subject.stwVolkswirtschaftliche Gesamtrechnungen
dc.subject.stwFinanzpolitiken
dc.subject.stwInternationale wirtschaftspolitische Koordinationen
dc.subject.stwKonvergenzkriterienen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwEU-Staatenen
dc.titleStability criteria and convergence : the role of the system of national accounts for fiscal policy in Europe-
dc.typeWorking Paperen
dc.identifier.ppn849535182en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp318en

Files in This Item:
File
Size
320.54 kB





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