The Stability Pact and Portuguese Fiscal Policy : the application of a VAR model *

  • Carlos José Fonseca Marinheiro
  • Published 1998
The Treaty on European Union forbids the Member States from incurring excessive government deficits. That prohibition is re-stated in the Stability and Growth Pact. The latter regulates the excessive deficit procedure. This regulation is analysed in detail. It brings us to the conclusion that its practical implementation shall lead the Member States to… CONTINUE READING