Universidad Carlos III de Madrid - UC3M

Home page > Asignaturas / Teaching > Economics of European Integration > Monetary and fiscal policy in the European Union > 1.02 Readings for Doing business in Spain > 6 Fiscal imbalances and output crises in Europe: will the fiscal compact (...)

6 Fiscal imbalances and output crises in Europe: will the fiscal compact help or hinder?

Authors: Graham Bird & Alex Mandilaras (2013) Journal of Economic Policy Reform, 16:1, 1-16

Tuesday 15 November 2016, by Carlos San Juan

The eurozone crisis has involved sharp output declines and has generated much discussion about the appropriate design of macroeconomic policy both in terms of dealing with the contemporary situation and minimising the risks of future crises. Much of the debate surrounding the crisis has focused on fiscal policy. All but two member states of the European Union have signed a draft treaty, the ‘fiscal compact’, that seeks to eliminate structural fiscal deficits. This paper examines the relationship between fiscal balances and output shortfalls amongst the eurozone countries allowing for other factors. In the light of the findings it critically assesses the fiscal compact.

Attached documents

Follow-up of the site's activity RSS 2.0 | Site Map | Private area | SPIP | Contacto: csm@eco.uc3m.es