The Nine Lives Of The Stability Pact

Author : Daniel Gros
Publisher : Unknown
Page : 128 pages
File Size : 43,7 Mb
Release : 2004
Category : Electronic
ISBN : OCLC:975366148

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The Nine Lives of the Stability Pact. A Special Report of the CEPS Macroeconomic Policy Group. CEPS Paperback. February 2004 by Daniel Gros Pdf

This special report by the CEPS Macroeconomic Policy Group (MPG) is concerned with the implementation of the prohibition of excessive deficits contained in the Treaty of Maastricht via the Stability and Growth Pact. Specifically, it deals with the controversy that was provoked by the failure of the ECOFIN Council of 25 November 2003, to endorse recommendations of the European Commission to put France and Germany on notice that they had violated the Treaty's prohibition of excessive deficits. The CEPS MPG finds that the core of the dispute arises not so much from the Stability Pact, but from the 3% limit set in the Treaty. It asserts that this clause should not be altered, as argued by many observers, and that it is even more appropriate now, than when it was first agreed in 1991, because of the slowdown of potential growth in Europe. The CEPS MPG is composed of distinguished economists who have undertaken to carry out independent, in-depth research on current developments in the European economy.

Author : Daniel Gros
Publisher : CEPS
Page : 60 pages
File Size : 42,7 Mb
Release : 2004
Category : Economic stabilization
ISBN : 9290794720

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The nine lives of the stability pact by Daniel Gros Pdf

"This special report by the CEPS Macroeconomic Policy Group (MPG) is concerned with the implementation of the prohibition of excessive deficits contained in the Treaty of Maastricht via the Stability and Growth Pact. Specifically, it deals with the controversy that was provoked by the failure of the ECOFIN Council of 25 November 2003, to endorse recommendations of the European Commission to put France and Germany on notice that they had violated the Treatys prohibition of excessive deficits"--CEPS website.

Author : Francesco Farina,Roberto Tamborini
Publisher : Routledge
Page : 238 pages
File Size : 44,9 Mb
Release : 2007-11-08
Category : Business & Economics
ISBN : 9781134109388

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Macroeconomic Policy in the European Monetary Union by Francesco Farina,Roberto Tamborini Pdf

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.

Author : Adam Simon Posen
Publisher : Peterson Institute
Page : 236 pages
File Size : 50,5 Mb
Release : 2005
Category : Business & Economics
ISBN : 0881323748

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The Euro at Five by Adam Simon Posen Pdf

As a long-run competitor and collaborator with the dollar, the euro creates the potential for a bipolar international monetary system, offering unprecedented challenges and opportunities to economic policymakers. This book explores the euro's international role, its record till its fifth year, and its future.

Author : OECD
Publisher : OECD Publishing
Page : 212 pages
File Size : 42,5 Mb
Release : 2004-07-29
Category : Electronic
ISBN : 9789264106567

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OECD Economic Surveys: Euro Area 2004 by OECD Pdf

OECD’s 2004 Economic Review of the Euro area puts forward a number of policy recommendations that seek to heighten the area’s resilience against adverse shocks. This edition’s special feature is titled Regions at Work.

Author : Brady Gordon
Publisher : Cambridge University Press
Page : 565 pages
File Size : 53,5 Mb
Release : 2022-04-14
Category : Law
ISBN : 9781108830096

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The Constitutional Boundaries of European Fiscal Federalism by Brady Gordon Pdf

This book provides an authoritative source for which models of fiscal federalism are compatible with the constitutional boundaries of the European legal order. It offers an encompassing guide to the leading constitutional case law in all EU Member States.

Author : William Mitchell
Publisher : Edward Elgar Publishing
Page : 520 pages
File Size : 53,9 Mb
Release : 2015-05-29
Category : Business & Economics
ISBN : 9781784716660

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Eurozone Dystopia by William Mitchell Pdf

Eurozone Dystopia traces the origin of the Eurozone and shows how the historical Franco-German rivalry combined with the growing dominance of neo-liberal economic thinking to create a monetary system that was deeply flawed and destined to fail. It argu

Author : Gergana Noutcheva
Publisher : CEPS
Page : 30 pages
File Size : 44,5 Mb
Release : 2005
Category : European Union countries
ISBN : 9789290796060

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Economic Regimes for Export by Gergana Noutcheva Pdf

Author : CEPS Macroeconomic Policy Group
Publisher : CEPS
Page : 100 pages
File Size : 55,8 Mb
Release : 2004
Category : Banks and banking
ISBN : 9290795034

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Breaking the Reform Deadlock by CEPS Macroeconomic Policy Group Pdf

Author : Christian Egenhofer,Kyriakos Gialoglou
Publisher : CEPS
Page : 73 pages
File Size : 44,6 Mb
Release : 2004
Category : Electronic
ISBN : 9789290795346

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Rethinking the EU Regulatory Strategy for the Internal Energy Market by Christian Egenhofer,Kyriakos Gialoglou Pdf

A key message of this report is that full and effective implementation of proposed legislation will be necessary to ensure a true internal market for energy in the EU, but this alone will not be sufficient. In parallel, more attention must be paid to other, less-prominent fields. The report singles out i) the introduction of incentive-based network regulation and ii) the careful design of principal elements of the wholesale market, i.e. trade of electricity and gas for resale ("wholesale market design and rules"). Moreover, the internal market needs to be buttressed with the consistent application of competition rules across member states to avoid the creation of national champions. The report also argues that a functioning electricity and gas market depends on market-compatible solutions to security of supply and environmental issues and a rethinking of "executive agencies", whose use to date is inhibited by the Meroni doctrine.

Author : Daniel Gros,Thomas Mayer,Angel J. Ubide
Publisher : CEPS
Page : 94 pages
File Size : 49,6 Mb
Release : 2006
Category : Business & Economics
ISBN : 9789290796213

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A World Out of Balance? by Daniel Gros,Thomas Mayer,Angel J. Ubide Pdf

Over the past decade, the global economy has been on a dynamic path that is clearly unsustainable, with ever-increasing current account deficits in the United States, financed by surpluses in emerging market economies. In its latest report, the authoritative CEPS Macroeconomic Policy Group explores the link between the U.S. deficits and the global savings-investment equilibrium. They find that the U.S. deficit is likely to be even larger than officially reported and that policymakers do not seem willing to undertake the necessary policy adjustments to reduce it. Nevertheless, a reduction in the global supply of savings may force an increase in global interest rates and thus a slowdown in U.S. domestic demand--thus initiating a gradual reduction in deficits. The authors argue that a key responsibility of U.S. policymakers is to allow this process to happen, thereby avoiding the risk of a disruptive adjustment later.

Author : Bo Kjellén
Publisher : CEPS
Page : 61 pages
File Size : 47,7 Mb
Release : 2005
Category : Climatic changes
ISBN : 9789290795667

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Towards a Global Climate Regime: Priority Areas for a Coherent EU Strategy by Bo Kjellén Pdf

Author : François Heisbourg
Publisher : CEPS
Page : 236 pages
File Size : 48,6 Mb
Release : 2004
Category : Europe
ISBN : 9290794682

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Readings in European Security by François Heisbourg Pdf

Author : Ansgar Belke,Barbara Styczynska
Publisher : CEPS
Page : 29 pages
File Size : 55,7 Mb
Release : 2004
Category : Balance of power
ISBN : 9789290795339

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The Allocation of Power in the Enlarged ECB Governing Council by Ansgar Belke,Barbara Styczynska Pdf

This study analyses the allocation of power in the Governing Council of the European Central Bank (ECB) as it enlarges to accommodate new members of the economic and monetary union. For this purpose, classical power indices that have their origin in solutions of cooperative games are applied. First, an assessment is made of the effects of enlargement on the voting power of different subgroups of the Governing Council that arise in the wake of the continuous accession process. Second, a systematic comparison is carried out of the status quo role ('one member, one vote') with respect to the voting power of the ECB Executive Board and to the representativeness of European monetary policy, along with the potential for its re-nationalisation.

Author : Marek Dabrowski,Jacek Rostowski
Publisher : Springer Science & Business Media
Page : 239 pages
File Size : 47,8 Mb
Release : 2006-07-01
Category : Business & Economics
ISBN : 9780387257662

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The Eastern Enlargement of the Eurozone by Marek Dabrowski,Jacek Rostowski Pdf

The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.