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.available |
2011-09-19T15:44:48Z |
dc.date.created |
2011 |
dc.date.issued |
2011 |
dc.identifier.issn |
1988 - 0812 |
dc.identifier.other |
T - 1321 - 2011 |
dc.identifier.uri |
http://hdl.handle.net/2072/169686 |
dc.format.extent |
23 |
dc.format.extent |
648793 bytes |
dc.format.mimetype |
application/pdf |
dc.language.iso |
eng |
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 |
dc.subject.udc |
339 - Comerç. Relacions econòmiques internacionals. Economia mundial. Màrqueting |
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 |