A Simple Proposal for a "Debt-Sensitive Stability Pact"

  • Paola Monperrus-Veroni
  • Published 2004

Abstract

The main rationale for fiscal policy rules is the concern for long term sustainability of public finances, that in a monetary union may affect the other members. Among many other criticisms, the Stability and Growth Pact (SGP) has been seen as contradictory or incomplete because it focuses on deficit rather than debt, the main indicator of public finances… (More)

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