Resource title

European fiscal policies under the stability pact - some first insights

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image for OpenScout resource :: European fiscal policies under the stability pact - some first insights

Resource description

EU Member countries have shown different degrees of ambition to reach a budget position of ?close to balance or in surplus?. Differences in ambition can only partly be explained by the relative size of cyclical safety marĀ­gins or differences in the number of votes in the ECOFIN Council. It is also shown that in the medium run there is no evidence for a trade-off between budget consolidation and growth. Of the eight countries with the strongest reduction of structural budget deficits in the period 1992-2001, only one showed growth rates below the EU average. The other seven countries even managed to achieve higher growth rates than in the period 1974-91 during which structural deficits had increased.

Resource author

Harmen Lehment

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/2729

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Adapt according to the presented license agreement and reference the original author.