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Revisiting The Stability And Growth Pact
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Book Synopsis Revisiting the Stability and Growth Pact by : Marco Buti
Download or read book Revisiting the Stability and Growth Pact written by Marco Buti and published by . This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Fiscal rules: design and compliance - 3. Critical issues in the implementation of the SGP - 4. Revisiting the SGP: main proposals - 5. Revisiting the SGP: workable improvements - 6. Conclusions.
Book Synopsis Reconciling Stability and Growth by : Mr.Roel M. W. J. Beetsma
Download or read book Reconciling Stability and Growth written by Mr.Roel M. W. J. Beetsma and published by International Monetary Fund. This book was released on 2003-09-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive (“smarter”) if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission.
Book Synopsis Stability and Growth in Europe by : Antonio Fatás
Download or read book Stability and Growth in Europe written by Antonio Fatás and published by Centre for Economic Policy Research. This book was released on 2003 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal policy framework of the EMU is in a states of crisis. Since the start of EMU, fiscal conditions in some member states have slipped considerably beyond the limits set by the Maastricht Treaty and the Stability and Growth Pact. It is clear that the preventive arm of the Stability and Growth Pact has failed to preclude excessive deficits. There is no shortage of proposals to reform the current fiscal framework in this crisis situation. They range from calls for softening their implementation, and to proposals for closer coordination of national fiscal policies. None of these proposals offers a convincing solution to the problem at the heart of the current crisis: how to balance the need for effective long-run fiscal stability in EMU with the need for short-run flexibility of fiscal policy in the member states. After a detailed analysis of the virtues and defects of the current fiscal framework, this report presents a proposal for reform that addresses this issue. The authors argue that EMU should move away from rigid fiscal rules for annual deficits towards a more judgmental process of monitoring the sustainability of fiscal policies. This approach is guided by three principles: independence, transparency, and legitimacy. Together wit the ability to assess the fiscal situation and outlook of each euro-area member state, they are the keys to designing a framework that provides enough flexibility and, at the same time, can build the required credibility and political support. The authors propose the creation of a Sustainability Council for the EMU, and independent body with the sole statutory task of safeguarding the sustainability of public finances in the euro area. The Sustainability Council regularly and openly reports to the public and the European Parliament its assessment of the member states' fiscal policies, taking into account past performance, current perspectives and the future course of fiscal policies. Its mandate is the counterpart of the ECB's principal task of maintaining price stability. However, the Sustainability Council has no operative role in fiscal policy; it relies solely on the pressure of informed public opinion to discipline national governments. The use of the instruments of fiscal policy is entirely left to the national governments, and the Sustainability Council can only be conceived as a judge of national public finances.
Book Synopsis Tax Systems and Tax Reforms in New EU Member States by : Luigi Bernardi
Download or read book Tax Systems and Tax Reforms in New EU Member States written by Luigi Bernardi and published by Routledge. This book was released on 2005-02-03 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on the work carried out in the 2004 Routledge book, Tax Systems and Tax Reforms in Europe, an international team of contributors now turn their attention to the new EU member states. The book compares conditions in the new and potential EU Member states to those in the long-standing EU countries. Topics covered include: * A Comparative View of Taxation in the EU and in New Members * Tax Policy in EU New Members * Tax Policy in New Members under the Stability Pact * Tax Administration and the Black Economy. As well as investigating countries such as the Czech Republic, Estonia and the Baltics, Hungary, Poland and Slovenia, this outstanding book contains a foreword by Vito Tanzi and will be a valuable resource for postgraduates and professionals in the fields of economics, politics, finance and European studies.
Book Synopsis Divisive integration. The triumph of failed ideas in Europe — revisited by : Steffen Lehndorff
Download or read book Divisive integration. The triumph of failed ideas in Europe — revisited written by Steffen Lehndorff and published by ETUI. This book was released on 2014-04-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a follow-up to the ETUI 2012 volume 'The triumph of failed ideas'. The focus of the book is the weight attributed to the different economic and social development paths in ten individual EU countries, and their interaction with the austerity regime established at EU level which in fact is deepening the crisis rather than paving ways out of it. The most dangerous implication of this policy approach is, according to this study, that it is driving countries apart - misleadingly in the name of 'Europe', hence the title of the book 'divisive integration'. The main message of the book is that a gradual recovery is possible only if there is a change of course in individual countries that then triggers reactions in the policies of other countries and perturbations at the EU level. However, these changes in individual countries is no longer feasible without a green light or at least toleration from the level of the European institutions.
Book Synopsis Euros and Europeans by : Andrew Martin
Download or read book Euros and Europeans written by Andrew Martin and published by Cambridge University Press. This book was released on 2004-10-28 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines how European national governments have been affected by EMU in their social and industrial policies.
Book Synopsis Mediterranean Capitalism Revisited by : Luigi Burroni
Download or read book Mediterranean Capitalism Revisited written by Luigi Burroni and published by Cornell University Press. This book was released on 2022-01-15 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mediterranean Capitalism Revisited brings together leading experts on the political economies of southern Europe—specifically Greece, Italy, Spain, and Portugal—to closely analyze and explain the primary socioeconomic and institutional features that define "Mediterranean capitalism" within the wider European context. These economies share a number of features, most notably their difficulties to provide viable answers to the challenge of globalization. By examining and comparing such components as welfare, education and innovation policies, cultural dimensions, and labor market regulation, Mediterranean Capitalism Revisited attends to both commonalities and divergences between the four countries, identifying the main reasons behind the poor performance of their economies and slow recovery from the Great Recession of 2007–2008. This volume also sheds light on the process of diversification among the four countries and addresses whether it did and still does make sense to speak of a uniquely Mediterranean model of capitalism. Contributors: Alexandre Afonso, Leiden University; Lucio Baccaro, Max Planck Institute for the Study of Societies; Rui Branco, NOVA University of Lisbon; Fabio Bulfone, Max Planck Institute for the Study of Societies; Giliberto Capano, University of Bologna; Sabrina Colombo, University of Milan; Lisa Dorigatti, University of Milan; Ana M. Guillén, University of Oviedo; Matteo Jessoula, University of Milan; Andrea Lippi, University of Florence; Manos Matsaganis, Polytechnic University of Milan; Oscar Molina, Autonomous University of Barcelona; Manuela Moschella, Scuola Normale Superiore; Sofia A. Pérez, Boston University; Gemma Scalise, University of Bergamo; Arianna Tassinari, Max Planck Institute for the Study of Societies.
Book Synopsis Integrating UK and European Social Policy by : Robert Geyer
Download or read book Integrating UK and European Social Policy written by Robert Geyer and published by Radcliffe Publishing. This book was released on 2005 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the European Union really matter to British policy? For some it is a leading light, for others an irrelevancy. Given the uneven and evolving nature of EU policy, how can we evaluate its overall impact? This book is the first to combine a clear and detailed introduction to the new science of complexity and its application to social policy, Europeanisation, globalisation and the EU-UK relationship. It includes a detailed review of four key policy areas: employment, labour, gender and monetary relations. "Integrating UK and European Social Policy" provides groundbreaking reading for undergraduate and postgraduate students of politics, history, international relations, economics, social policy and applied social science. It is also useful for academics with an interest in European social policy, and policy makers and shapers, including government and non-government organisations.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :9781589063518 Total Pages :216 pages Book Rating :4.0/5 (635 download)
Book Synopsis IMF Staff Papers, Volume 51, No. 3 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 51, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2004-11-23 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper tests uncovered interest parity (UIP) using interest rates on longer maturity bonds for the Group of Seven countries. These long-horizon regressions yield much more support for UIP—all of the coefficients on interest differentials are of the correct sign, and almost all are closer to the UIP value of unity than to zero. The paper also analyzes the decision by a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact.
Book Synopsis The European Economy in an American Mirror by : Barry Eichengreen
Download or read book The European Economy in an American Mirror written by Barry Eichengreen and published by Routledge. This book was released on 2007-10-04 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe‘s economy is under strain due to lagging productivity growth, population ageing, the difficulties of adjustment in an enlarged European Union, and the challenges of globalization. In comparison with America, rates of growth of GDP per capita and labour productivity growth are anaemic, raising questions about the viability of a distinct Europ
Book Synopsis Beyond the Regulatory Polity? by : Philipp Genschel
Download or read book Beyond the Regulatory Polity? written by Philipp Genschel and published by Oxford University Press, USA. This book was released on 2014 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the involvement of the European Union in the exercise of core state powers such as foreign and defense policy, public finance, public administration, and the maintenance of law and order.
Book Synopsis Tax Systems and Tax Reforms in Europe by : Luigi Bernardi
Download or read book Tax Systems and Tax Reforms in Europe written by Luigi Bernardi and published by Routledge. This book was released on 2004 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This impressive book featuring contributions from leading scholars, will be of great interest not only to academics but also to those involved in the financial sectors across the world.
Book Synopsis Between Growth and Stability by : Leila Simona Talani
Download or read book Between Growth and Stability written by Leila Simona Talani and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Very comprehensive and based on a detailed economic and political analysis, Between Growth and Stability is clearly a vital book for both students and seasoned economists. . . Thomas Bauwens, Bibliothèque Européenne Combining economic and political science perspectives, this timely and important book describes and analyses the circumstances and events leading to the demise and subsequent reform of the Stability and Growth Pact (SGP). Between Growth and Stability aims to find a solution to the dilemmas posed by fiscal policy coordination in the context of a single currency area, as well as contrasting the alternative heuristic frameworks and theoretical perspectives employed. It focuses particularly on the question of credibility, its definition and its meaning in the day-to-day workings of economic and monetary union. The book examines the actual performance of the SGP and proposes ways in which the integrity of European fiscal rule making might be improved in the future. This book will be essential reading for policymakers, politicians, members of European institutions and international organizations. The in-depth analysis will also be invaluable to scholars of international relations and economics, as well as undergraduate and postgraduate students in international relations, political science and economics.
Book Synopsis Evolution or Revolution? by : Olivier Blanchard
Download or read book Evolution or Revolution? written by Olivier Blanchard and published by MIT Press. This book was released on 2019-04-16 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability. The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics. The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation. Contributors David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers
Book Synopsis Inequality and Stagnation by : Santiago Capraro
Download or read book Inequality and Stagnation written by Santiago Capraro and published by Taylor & Francis. This book was released on 2024-08-02 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book examines how the outgrowth of the financial industry has contributed to the recent tendencies towards inequality and stagnation. It proposes a monetary interpretation of these events using a Classical–Keynesian theoretical approach derived from the work of Keynes and Sraffa. The approach moves from the distributive conflicts among economic and social groups, presuming that they influence the legislation shaping the organisation of the markets and the policy of the authorities. It argues that the degrees of liquidity of assets, which reflect the individual perceptions of their future prices, ultimately depend on the organisation of the markets and policy decisions. The development of his work persuaded Keynes that it was necessary to revolutionise the scientific foundations of economic discipline to effectively interpret events and recommend policies. He consequently introduced in 1932 a monetary theory of production. Following these lines, Sraffa proposed in Production of Commodities to take the rate of interest as an independent variable in the theory of distribution. Using the Classical–Keynesian approach, the book shows how the changes in legislation and policies since the abandonment of the Bretton Woods agreements have caused the outgrowth of finance and how these alterations have raised financial instability. It identifies various competitive mechanisms through which financial events can affect income distribution and growth, describing how they have triggered the recent tendencies towards inequality and stagnation. This book is essential reading for researchers studying the interactions among financial markets, distribution, and growth.
Book Synopsis The SAGE Handbook of European Union Politics by : Knud Erik Jørgensen
Download or read book The SAGE Handbook of European Union Politics written by Knud Erik Jørgensen and published by SAGE. This book was released on 2007-01-03 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: ′This volume is one to which anyone trying to make sense of the EU of the early 21st century will return again and again. A terrific line-up that combines diverse talents from North America and Europe. Few books of this kind could live up to the billing ′definitive benchmark′, but this one certainly does′ - John Peterson, University of Edinburgh ′A most useful book that can be highly recommended. A strong analytical framework coupled with unparalleled coverage of the major issues of the political science research of the EU makes this volume a formidable tool for teaching and a significant input to new scholarly research. It is both relatively sophisticated and very accessible to graduate students and advanced researchers. The clear writing style and the richness of information presented will certainly make this book interesting for non-academic readers′ - Igor Vidacak, Institute for International Relations, Zagreb - Journal of Common Market Studies ′An admirably comprehensive source book for those interested in how the tools of political science inspire EU area studies. The editors enlist leading researchers to synthesize the state of the art in their field of expertise. The Handbook of European Union Politics will be an indispensable intellectual resource for researchers, teachers, and graduate students of the European Union′ - Liesbet Hooghe, University of North Carolina at Chapel Hill, USA ′Presents an excellent overview of political science research on the EU. It finds the right balance between establishing the state of the art and pointing the reader to theoretical diversity. Highly recommended for advanced students and scholars looking for quick and solid orientation in a fragmented field - and for new ideas for research′ - Frank Schimmelfennig, ETH Zurich, Switzerland ′This is a milestone in the study of EU politics. The authors include the most knowledgeable practitioners in the field, and collectively they provide a comprehensive and highly competent overview of the state of theory and research on EU institutions, politics and policies′ - Fritz Scharpf, Max Planck Institute for the Study of Societies, Germany The European Union (EU) poses quite profound questions for scholars and students of the social and political sciences. This benchmark handbook is designed to: - provide an authoritative state-of-the art guide to the scope of the field suitable for both established scholars and students of the EU - reflect and contribute to the debates about the nature of the field of EU studies and EU politics in particular - explore in detail the development of the many approaches to the study of EU politics. Divided into four sections, the Handbook focuses on theorizing European integration; the EU as polity; politics and policy making in the EU; and the EU and the international system. Its appeal will reside not only in its comprehensive and authoritative coverage of the field, but also in the quality of its contributors, and the diversity of theoretical and methodological approaches included. The resulting volume is a ′must have′ for all scholars and advanced students of the EU and European integration.
Book Synopsis Trimming the Sails by : István Benczes
Download or read book Trimming the Sails written by István Benczes and published by Central European University Press. This book was released on 2008-01-10 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a clear, multidisciplinary and systematic analysis of the relatively new concept of the so-called expansionary fiscal consolidations. This concept suggests that fiscal adjustment should not be in trade-off with economic growth if certain conditions are met. But why do only a few countries and only at certain times experience the expansionary effects, while others not at all? The necessary institutional conditions and circumstances have been totally neglected in the literature, or analyzed only partially at best.
