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FISCAL DISCIPLINE AND FLEXIBILITY IN EMU: THE IMPLEMENTATION OF THE STABILITY AND GROWTH PACT

Fiscal discipline to safeguard the credibility of the single monetary authority and fiscal flexibility to respond to country-specific shocks are two core principles governing budgetary policy in EMU. The Stability and Growth Pact aims at ensuring the first objective. To comply with the... Full description

1st Person: BUTI, MARCO
Additional Persons: FRANCO, DANIELE verfasserin; ONGENA, HEDWIG verfasserin
Source: in Oxford review of economic policy Vol. 14, No. 3 (1998), p. 81-97
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Type of Publication: Article
Language: English
Published: 1998
Keywords: research-article
Online: Volltext
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