Reforming the Stability and Growth Pact /

A rules-based fiscal framework, such as the EU's Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP's adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules,...

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מחבר ראשי: Annett, Anthony
מחברים אחרים: Decressin, Jorg, Deppler, Michael
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2005.
סדרה:IMF Policy Discussion Papers; Policy Discussion Paper ; No. 2005/002
גישה מקוונת:Full text available on IMF
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245 1 0 |a Reforming the Stability and Growth Pact /  |c Anthony Annett, Jorg Decressin, Michael Deppler. 
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520 3 |a A rules-based fiscal framework, such as the EU's Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP's adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules, where few changes seem necessary. Specifically, the Excessive Deficit Procedure needs a stronger focus on policies rather than outcomes, while staying operationally simple and transparent. Furthermore, reforms are needed to foster time-consistent national policies, budgetary transparency, and ownership of the Pact. Accordingly, parliaments should debate national Stability Programs and national fiscal councils should review these programs for parliaments. 
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700 1 |a Decressin, Jorg. 
700 1 |a Deppler, Michael. 
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