Adjustment and Growth in the European Mo
β Francisco Torres, Francesco Giavazzi
π Library
π
1993
π English
β¦ LIBER β¦
π
Macroeconomic Policy in the European Monetary Union: From the Old to the New Stability and Growth Pact
β Scribed by Francesco Farina, Roberto Tamborini
- Publisher
- Routledge
- Year
- 2007
- Tongue
- English
- Leaves
- 238
- Series
- Routledge Studies in the European Economy
- Edition
- 1
- Category
- Library
β¬ Acquire This Volume
No coin nor oath required. For personal study only.
β¦ Synopsis
Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers.
Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the:
- monetary and fiscal policy-mix
- evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules
- accountability of debt evolution
- financial spill-over of national fiscal policies
- measurement and assessment of automatic stabilizers.
Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.
Β
β¦ Table of Contents
Book Cover......Page 1
Title......Page 6
Copyright......Page 7
Contents......Page 8
Figures......Page 10
Tables......Page 12
Contributors......Page 14
1 Introduction......Page 16
Part I: Macroeconomic governance in the EMU......Page 32
2 Fiscal policy and implementation in EMU: From Maastricht to the SGP reform beyond......Page 34
3 Macroeconomic adjustment in the euro area: The role of fiscal policy......Page 60
Part II: Empirical analyses of national fiscal stances......Page 86
4 Measuring and assessing fiscal automatic stabilizers......Page 88
5 Getting measures of fiscal stance right for the new SGP......Page 109
6 Testing the fiscal theory of the price level for European countries: A cointegrated VAR approach......Page 142
Part III: Fiscal policy and the EMU countries......Page 160
7 One size does not fit all: Country size and fiscal policy in a monetary union......Page 162
8 Euro bonds: In search of financial spillovers......Page 176
9 Inflation divergence and public deficits in a monetary union......Page 211
Index......Page 232
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