REAL

Taylor's Fiscal Rule: An Exit to the Stability and Growth Pact Dead-end?

Farvaque, Etienne and Huart, Florence and Vaneecloo, Clément (2006) Taylor's Fiscal Rule: An Exit to the Stability and Growth Pact Dead-end? Acta Oeconomica, 56 (3). pp. 323-340. ISSN 0001-6373

[img] Text
aoecon.56.2006.3.4.pdf
Restricted to Repository staff only until 30 September 2026.

Download (76kB)

Abstract

This study applies Taylor's (2000) proposed fiscal rule to EU-15 countries. We show that such a simple, flexible and transparent fiscal rule, if applied to individual EMU countries, could improve the enforceability of the Stability and Growth Pact. This rule is used to compute the structural budget balance consistent with a total budget position in balance, given national specificities concerning automatic stabilisers and the output gap. It is thus designed for being consistent with both fiscal discipline and flexibility.

Item Type: Article
Subjects: H Social Sciences / társadalomtudományok > H Social Sciences (General) / társadalomtudomány általában
Depositing User: xKatalin xBarta
Date Deposited: 18 Jan 2017 09:27
Last Modified: 18 Jan 2017 09:27
URI: http://real.mtak.hu/id/eprint/45701

Actions (login required)

Edit Item Edit Item