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Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did Not Change Under Europe’s Fiscal Framework PDF

34 Pages·2006·0.3984375 MB·English
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by Anthony Annett| 2006| 34 pages| 0.3984375| English

About Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did Not Change Under Europe’s Fiscal Framework

The Stability and Growth Pact has been a success in numerous EU countries, especially in guiding them toward underlying fiscal balance ahead of population aging. These countries tend to be smaller, subject to greater macroeconomic volatility, and reliant on a form of fiscal governance that emphasizes targets and contracts. Most of the new members share these characteristics. For the countries less compatible with the Pact, domestic governance reforms that increase the reputational costs for noncompliance can be useful complements to the fiscal framework.

Detailed Information

Author:Anthony Annett
Publication Year:2006
ISBN:6613823864
Pages:34
Language:English
File Size:0.3984375
Format:PDF
Price:FREE
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