Maastricht's fiscal rules at ten: An assessment

Journal of Common Market Studies

Volumn 40, Issue 5, 2002, Pages 823-848

  Buti, Marco ^a   Giudice, Gabriele ^a  

^a EUROPEAN COMMISSION   (Belgium)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0036951455     PISSN: 00219886     EISSN: None     Source Type: Journal    
DOI: 10.1111/1468-5965.00399     Document Type: Article

References (54)

1. Alesina, A. and Perotti, R. (1996a) 'Budget Deficits and Budget Institutions'. IMF Working Paper No. 52.
2. Alesina, A. and Perotti, R. (1996b) 'Fiscal Discipline and the Budget Process'. American Economic Review, AEA Papers and Proceedings, No. 86, pp. 401-7.
3. Artis, M.J. (2002) 'The Stability and Growth Pact: Fiscal Policy in the EMU'. In Breuss, F., Fink, G. and Griller, S. (eds) Institutional, Legal and Economic Aspects of the EMU (Vienna/New York: Springer), pp. 101-15.
4. Artis, M.J. and Buti, M. (2000) ' "Close to Balance or In Surplus": A Policy-Maker's Guide to the Implementation of the Stability and Growth Pact'. Journal of Common Market Studies, Vol. 38, No. 4, pp. 563-92.
5. Balassone, F. and Franco, D. (2001a) 'Fiscal Federalism and the Stability and Growth Pact: A Difficult Union'. Fiscal Rules, proceedings of the Banca d'Italia workshop on public finance, February, pp. 601-36.
6. Balassone, F. and Franco, D. (2001b) 'The SGP and the "Golden Rule" '. In Brunila, et al. (eds), pp. 371-93.
7. Balassone, F., Franco, D. and Zotteri, S. (2002), 'Fiscal Rules for Sub-National Governments: What Lessons from EMU Countries?'. Paper prepared for the Conference on 'Rules-Based Macroeconomic Policies in Emerging Market Economies', organized by the World Bank and IMF, Oaxaca, Mexico, February.
8. Barro, R.J. (1979) 'On the Determination of Public Debt'. Journal of Political Economy, No. 87, pp. 940-71.
9. Barro, R.J. and Gordon, D.B. (1983) 'Rules, Discretion and Reputation in a Model of Monetary Policy'. Journal of Monetary Economics, No. 12, pp. 101-21.
10. Bean, C.R. (1998) 'Discussion'. Economic Policy, No. 26, pp. 104-7.
11. Beetsma, R. (2001) 'Does EMU Need a Stability Pact?'. In Brunila et al. (eds), pp. 23-52.
12. Brunila, A. (2002) 'Fiscal Policy: Co-ordination, Discipline and Stabilization'. Paper prepared for a meeting of the Group of Policy Advisers of the European Commission, April.
13. Brunila, A., Buti, M. and Franco, D. (eds) (2001) The Stability and Growth Pact-The Architecture of Fiscal Policy in EMU (Basingstoke: Palgrave).
14. Brunila, A., Buti, M. and in't Veld, J. (2002) 'Cyclical Stabilization under the Stability and Growth Pact: How Effective are Automatic Stabilizers?'. Bank of Finland Discussion Paper No. 6.
15. Buiter, W.H. and Grafe, C. (2002) 'Patching up the Pact -Some Suggestions for Enhancing Fiscal Sustainability and Macroeconomic Stability in an Enlarged European Union'. CEPR Discussion Paper No. 3496.
16. Buti, M. and Martinot, B. (2000) 'Open Issues in the Implementation of the Stability and Growth Pact'. National Institute Economic Review, No. 174, pp. 92-104.
17. Buti, M. and Sapir, A. (eds) (1998) Economic Policy in EMU-A Study by the European Commission Services (Oxford: Oxford University Press).
18. Buti, M. and Sapir, A. (2002a) 'EMU in the Early Years: Differences and Credibility'. In Buti and Sapir (eds).
19. Buti, M. and Sapir, A. (eds) (2002b) EMU and Economic Policy in Europe - Challenges of the Early Years (Cheltenham: Edward Elgar).
20. Buti, M., Franco, D. and Ongena, H. (1998) 'Fiscal Discipline and Flexibility in EMU: The Implementation of the Stability and Growth Pact'. Oxford Review of Economic Policy, Vol. 14, No. 3, pp. 81-97.
21. Buti, M., von Hagen, J. and Martinez-Mongay, C. (eds) (2002) The Behaviour of Fiscal Authorities - Stabilization, Growth and Institutions (Basingstoke: Palgrave).
22. Buti, M., Roeger, W. and in't Veld, J. (2001) 'Stabilizing Output and Inflation: Policy Conflicts and Co-ordination under a Stability Pact'. Journal of Common Market Studies, Vol. 39, No. 5, pp. 801-28.
23. Buti, M., Martinez-Mongay, C., van den Noord, P. and Sekkat, K. (2002) 'Automatic Stabilizers and Market Flexibility in EMU: Is There a Trade-off?'. OECD Economics Department Working Paper No. 335.
24. Cabral, A.J. (2001) 'Main Aspects of the Working of the SGP'. In Brunila et al. (eds), pp. 139-57.
25. Canzoneri, M.B. and Diba, B.T. (2001) 'The Stability and Growth Pact: A Delicate Balance or an Albatross?'. In Brunila et al. (eds), pp. 53-74.
26. Commission of the European Communities (1999) 'Italy's Slow Growth in the 1990s: Facts, Explanations and Prospects'. European Economy, Reports and Studies No. 5.
27. Commission of the European Communities (2000) 'Public Finances in EMU-2000'. European Economy, Reports and Studies No. 3.
28. Commission of the European Communities (2001) 'Public Finances in EMU - 2001'. European Economy, Reports and Studies No. 3.
29. Commission of the European Communities (2002) 'Public Finances in EMU - 2002'. European Economy No. 3.
30. Corsetti, G. and Roubini, N. (1992) 'Tax Smoothing Discretion versus Balanced Budget Rules in the Presence of Politically Motivated Fiscal Deficits: The Design of Optimal Fiscal Rules for Europe after 1992'. CEPR Discussion Paper No. 682.
31. Costello, D. (2001) 'The SGP: How Did We Get There?'. In Brunila et al. (eds), pp. 106-38.
32. Dixit, A. (2001) 'Games of Monetary and Fiscal Interactions in the EMU'. European Economic Review, Vol. 45, No. 4-6, pp. 589-613.
33. Eichengreen, B. (1993) 'Fiscal Policy and EMU'. In Eichengreen B. and Frieden, J. (eds) The Political Economy of European Monetary Integration (Boulder, CO: Westview).
34. Fischer, J. (2001) 'National and EU Budgetary Rules and Procedures: An Evolving Interaction'. In Fiscal Rules, Proceedings of the Banca d'Italia workshop on public finance, 1-3 February.
35. Fischer, J. and Giudice, G. (2001) 'The Stability and Convergence Programmes'. In Brunila et al. (eds), pp. 158-84.
36. Giavazzi, F. and Pagano, M. (1990) 'Can Severe Fiscal Adjustment Be Expansionary?'. NBER Macroeconomics Annuals (Cambridge, MA:MIT Press).
37. Kopits, G. (2001) 'Fiscal Rules: Useful Policy Framework or Unnecessary Ornament?'. IMF Working Paper No. 145.
38. Kopits, G. and Symansky, S. (1998) 'Fiscal Policy Rules'. IMF Occasional Paper, 162.
39. McKinnon, R.I. (1997) 'EMU as a Device for Collective Fiscal Retrenchment'. American Economic Review, AEA Papers and Proceedings, No. 87, pp. 211-13.
40. Mélitz, J. (1997) 'Some Cross-country Evidence about Debt, Deficits, and the Behaviour of Monetary and Fiscal Authorities'. CEPR Discussion Paper No. 1653.
41. Mélitz, J. (2002) 'Some Cross-country Evidence about Fiscal Policy Behaviour and Consequences for EMU'. In Buti et al. (eds), pp. 215-40.
42. Perotti, R. (1996) 'Fiscal Consolidation in Europe: Composition Matters'. American Economic Review, AEA Papers and Proceedings, No. 86, pp. 105-10.
43. Perotti, R. (1999) 'Fiscal Policy in Good Times and Bad'. Quarterly Journal of Economics, No. 114, pp. 1399-436.
44. Pisani-Ferry, J. (2002) 'Fiscal Discipline and Policy Coordination in the Eurozone: Assessment and Proposals'. Paper prepared for a meeting of the Group of Policy Advisers of the European Commission, April.
45. Ross, K. and Ubide, A. (2001) 'Mind the Gap: What is the Best Measure of Slack in the Euro Area?'. IMF Working Paper No. 203.
46. Stàrk, J. (2001) 'Genesis of a Pact'. In Brunila et al. (eds). pp. 77-105.
47. von Hagen, J. (1992) 'Budgeting Procedures and Fiscal Performance in the EC'. European Economy, Economic Papers No. 96.
48. von Hagen, J. (2002) 'More Growth for Stability - Reflections on Fiscal Policy in Euroland'. EMU Monitor Background Papers ZEI, University of Bonn, June.
49. von Hagen, J. and Harden, I. (1994) 'National Budget Processes and Fiscal Performance'. European Economy, Reports and Studies, No. 3, pp. 311-418.
50. von Hagen, J., Hughes Hallett, A. and Strauch, R. (2001) 'Budgetary Consolidation in EMU'. European Economy, Economic Papers, No. 148.
51. Wren-Lewis, S. (2000) 'The Limits to Discretionary Fiscal Stabilization Policy'. Oxford Review of Economic Policy, No. 16, pp. 92-105.
52. Wren-Lewis, S. (2002) 'Fiscal Policy, Inflation and Stabilization in EMU'. Paper presented at the Commission workshop on 'The Interactions between Fiscal and Monetary Policies in EMU', 8 March, Brussels.
53. Wyplosz, C. (1999) 'Economic Policy Coordination in EMU: Strategies and Institutions'. ZEI Policy Paper, B11.
54. Wyplosz, C. (2001) 'Fiscal Policy: Institutions vs. Rules'. Report prepared for the Swedish Government's Committee on Stabilization Policy in EMU, December.