Download or read book Building on the Proposal by the EU Commission for Reforming the Stability and Growth Pact written by Jasper van Dijk and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the following, we very briefly sketch out the reform proposal put forward by the EUCommission and make five suggestions on how this could be developed further. The annex contains two short papers covering (1) the EU methodology for computing debt sustainability and (2) expenditure rules in practice drawing on the Dutch experience.
Download or read book 101 Proposals to Reform the Stability and Growth Pact written by Jonas Fischer and published by . This book was released on 2006 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1.Introduction - 2.Sailing with the SGP: A historical overview - 3.The empirical analysis - 4.The reformed Stability and Growth Pact: eclectic or sectarian? - 5.Why so many proposals? - 6.Summary.
Download or read book Revisiting the Stability and Growth Pact written by Marco Buti and published by . This book was released on 2003 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of the Stability and Growth Pact as a Tool for Economic Policy Co ordination written by Hugo Zsolt de Sousa and published by . This book was released on 2004 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Integration of the Treaty on Stability Coordination and Governance Into EU Law written by and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union is an intergovernmental Treaty signed by 25 Member States (all except the Czech Republic, Croatia and the United Kingdom) in 2012. It complements the EU fiscal framework, such as the Stability and Growth Pact. The proposal integrates the substance of the Treaty on Stability, Coordination and Governance into EU law. This foresees that a balanced budget rule in structural terms should be applied, along with a correction mechanism in case of significant deviation. As reported by the Commission in February 2017, relevant provisions have already been enacted into national laws. The proposal takes into account the appropriate flexibility built into the Stability and Growth Pact and identified by the Commission since January 2015. The provisions are fully in line with existing rules defined in primary and secondary legislation. The initiative is presented in the form of a proposal for a Council Directive under Article 126(14)(2) of the Treaty on the Functioning of the European Union.
Download or read book The New Stability and Growth Pact written by Marco Fioramanti and published by . This book was released on 2011 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent economic and financial crises have shown the weakness of EU economic governance. A process of strengthening macroeconomic and fiscal surveillance started in the course of 2010; the European Commission, among other proposals, suggested a new binding criterion of debt reduction: debt-to-GDP ratio is to be considered sufficiently diminishing if its distance with respect to the 60% of GDP reference value has reduced over the previous three years at a rate of the order of one-twentieth per year. In this paper we try to evaluate, with the support of the Oxford Economic Global Model, the economic consequences of the simultaneous attempt of all euro area countries to fulfill this one-twentieth criterion in the 2011-2015 period. Simulation results show that the mechanical application of the debt rule proposed by the European Commission would be only marginally efficient in reducing the debt to GDP ratio at best, but with high costs represented by the loss of flexibility, and counterproductive at worst.
Download or read book Improving the stability and growth pact the commissionas three pilar approach written by and published by . This book was released on 2005 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Europe in 12 Lessons written by Pascal Fontaine and published by . This book was released on 2017 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming Fiscal Governance in the European Union written by Michal Andrle and published by International Monetary Fund. This book was released on 2015-05-21 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.
Download or read book The LIME Assessment Framework LAF written by and published by . This book was released on 2008 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: A methodological tool to compare, in the context of the Lisbon Strategy, the performance of EU Member States in terms of GDP and in terms of twenty policy areas affecting growth Publisher's note.
Download or read book Independent Fiscal Councils Recent Trends and Performance written by Mr.Roel M. W. J. Beetsma and published by International Monetary Fund. This book was released on 2018-03-23 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries increasingly rely on independent fiscal councils to constrain policymakers’ discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the latest (2016) vintage of the IMF Fiscal Council Dataset, we focus on two tasks expected to strengthen fiscal performance: the preparation or assessment of forecasts, and the monitoring of compliance with fiscal rules. Tentative econometric evidence suggests that the presence of a fiscal council is associated with more accurate and less optimistic fiscal forecasts, as well as greater compliance with fiscal rules.
Download or read book Pension Systems Ageing and the Stability and Growth Pact written by Roel Beetsma and published by . This book was released on 2007 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how the Stability and Growth Pact may cope with the future costs of population ageing in the European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may induce or hamper the incentives for reform. In our analysis we will draw on recent literature on the Pact and on the pensions and the ageing problem. We will also calibrate a simple model for addressing intergenerational equity.
Download or read book Five Years of an Enlarged EU written by Filip Keereman and published by Springer Science & Business Media. This book was released on 2010-07-23 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fifth Enlargement that took place in 2004 and 2007 was a milestone in the history of the European Union. Not only because of the large number of acceding countries but also because of their recent political and economic experience. Ten of them had undergone a profound transition from a totalitarian regime to democracy, and from a centrally planned economy to a market-based system. Most of them had income levels signi?cantly below those of the then EU-15. Now, 6 years later, we can clearly see that the process of European integration, both before and after 2004, was what enabled Europe to overcome the gaps between various parts of the continent. The enlargement made Europe a better and wealthier place and streng- ened its position in the world. Integration into the European Union has always been one of the strongest incentives for reform in the new Member States. Particularly important in my view have been the development of ?nancial markets through foreign direct investment and capital in?ows, and the opening of labour markets – which was a two-way phenomenon, with markets being opened up in acceding as well as the incumbent Member States. The Fifth Enlargement was thus an exercise of glo- lisation in miniature, a practice run for the Union to tackle the challenges of the ever smaller world.
Download or read book How to Reform the European Central Bank written by Jean-Paul Fitoussi and published by . This book was released on 2002 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Political Economy of European Integration written by Finn Laursen and published by Martinus Nijhoff Publishers. This book was released on 1995-07-13 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of European integration produced much scholarly debate in the 1950s and '60s. The following two decades saw few works on European integration that included more elaborate discussions of theory and methodology; most studies in that period were fairly descriptive. In recent years there has been renewed theoretical interest in European integration. This book, however, is one of the first to discuss and apply various political-economy approaches explicitly to integration, including classical integration theory and modern public choice theories. Areas covered include common policies and decision making, as well as the external relations of the EU. The influence of the European Parliament, the concept of subsidiarity, trade policy, Economic and Monetary Union, reform of the Common Agricultural Policy, relations with EFTA and Eastern European countries, as well as enlargement, are all discussed. "Audience: " Of interest to both scholars and policy makers concerned with these issues.
Download or read book Regroup and Reform written by Steven Blockmans and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: CEPS is an independent policy research institute based in Brussels. Its mission is to produce sound analytical research leading to constructive solutions to the challenges facing Europe today. This report is based on discussions in the CEPS Task Force on EU Reform.
Download or read book The Great Reset written by Floriana Cerniglia and published by Open Book Publishers. This book was released on 2021-11-26 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and insightful collection of essays written by economists from a range of academic and policy institutes explores the subject of public investment through two avenues. The first examines public investment trends and needs in Europe, addressing the initiatives taken by European governments to tackle the COVID-19 recession and to rebuild their economies. The second identifies key domains where European public investment is needed to build a more sustainable Europe, from climate change to human capital formation. Building on the 2020 edition, The Great Reset demonstrates the value of public capital both within European countries and as a European public good, shedding light on the impact that the NextGenerationEU’s Recovery and Resilience Facility will likely have on the macroeconomic structure of the European economy. The first part of the Outlook assesses the state of public investment in Europe at large, as well as focusing on five countries (France, Germany, Italy, Poland and Spain) as case studies. The second part focuses on the challenges posed by the pandemic and the pillars of the NextGenerationEU investment plan, with chapters ranging from education and digitalization, to territorial cohesion and green transition. This book is a must-read for economists, policymakers, and scholars interested in the impact and recovery of European countries during a time of extensive uncertainty.
