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|c 5.00 USD
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|z 9781451858716
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Beetsma, Roel.
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|a Reconciling Stability and Growth :
|b Smart Pacts and Structural Reforms /
|c Roel Beetsma, Xavier Debrun.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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|a 1 online resource (34 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive ('smarter') if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission.
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|a Mode of access: Internet
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|a Debrun, Xavier.
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|a IMF Working Papers; Working Paper ;
|v No. 2003/174
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/174/001.2003.issue-174-en.xml
|z IMF e-Library
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