کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968273 931484 2006 30 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Maastricht Criteria versus Stability Pact
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Maastricht Criteria versus Stability Pact
چکیده انگلیسی
It is generally believed that fiscal consolidations should occur prior to a country's admission to the European Monetary Union (EMU). This paper argues that the fiscal Maastricht Criteria require badly timed, costly adjustments while not guaranteeing sustained fiscal restraint. An effective Stability Pact is not only necessary, but should replace the Maastricht Criteria altogether. These conclusions are based on simulations scrutinising the simultaneous effects of contractionary fiscal policies and of joining a monetary union. In a case study type analysis it is shown that there is a strong case for both policy changes to occur at the same time.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Policy Modeling - Volume 28, Issue 3, April 2006, Pages 247-276
نویسندگان
,