dc.contributor
Universitat Rovira i Virgili. Departament d'Economia
dc.contributor
Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública
dc.contributor.author
Ferré Carracedo, Montserrat
dc.date.accessioned
2011-09-19T15:44:48Z
dc.date.accessioned
2024-12-10T13:30:18Z
dc.date.available
2011-09-19T15:44:48Z
dc.date.available
2024-12-10T13:30:18Z
dc.identifier.issn
1988 - 0812
dc.identifier.other
T - 1321 - 2011
dc.identifier.uri
http://hdl.handle.net/2072/169686
dc.description.abstract
The Stability and Growth Pact (SGP) was established to govern discretionary
fiscal policy in the European Monetary Union. This article studies the effects
created when there is uncertainty about the members’ commitment to
respecting the established deficit limits in the SGP. We will show that, even if
countries respect the SGP deficit ceiling, the presence of uncertainty about
their compliance will bring about higher volatility in key economic variables,
which could, in turn, affect unemployment and growth negatively. This finding
shows that it is important to reduce uncertainty about the members’
commitment towards the SGP.
Keywords: fiscal policy rules, monetary union, Stability and Growth Pact, uncertainty,
commitment.
JEL No.: E63, F55, H62, H87
cat
dc.format.extent
648793 bytes
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application/pdf
dc.relation.ispartofseries
Documents de treball del Departament d'Economia;2011-17
dc.rights
Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)
dc.subject.other
Política fiscal
dc.subject.other
Unió Monetària Europea
dc.subject.other
Estabilització econòmica
dc.title
The effects of uncertainty about countries' compliance with the Stability and Growth Pact
dc.type
info:eu-repo/semantics/workingPaper
