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Record Nr. |
UNINA9910814666303321 |
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Autore |
Annett Anthony |
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Titolo |
Enforcement and the stability and growth pact : how fiscal policy did and did not change under Europe's fiscal framework / / [prepared by] Anthony Annett |
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Pubbl/distr/stampa |
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[Washington, D.C.], : International Monetary Fund, European Dept., 2006 |
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ISBN |
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1-4623-3467-9 |
1-4527-8142-7 |
1-283-51141-X |
1-4519-0910-1 |
9786613823861 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (34 p.) |
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Collana |
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IMF working paper ; ; WP/06/116 |
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Soggetti |
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Fiscal policy - European Union countries - Econometric models |
Monetary unions - European Union countries - Econometric models |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE POLITICAL ECONOMY OF FISCAL FRAMEWORKS""; ""III. DEVELOPMENTS UNDER THE FISCAL FRAMEWORK""; ""IV. EXPLAINING DIVERGENT COUNTRY EXPERIENCES: EMPIRICAL RESULTS""; ""V. CONCLUSION""; ""REFERENCES"" |
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Sommario/riassunto |
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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. |
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