Fiscal Policy in Economic and Monetary Union
Preview

Hardback

Fiscal Policy in Economic and Monetary Union

Theory, Evidence and Institutions

9781845420178 Edward Elgar Publishing
Marco Buti, Director of the Economies of the Member States, European Commission and Daniele Franco, Director, Public Finance Division, Research Department, Bank of Italy
Publication Date: 2005 ISBN: 978 1 84542 017 8 Extent: 320 pp
This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU’s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature.

Copyright & permissions

Recommend to librarian

Your Details

Privacy Policy

Librarian Details

Download leaflet

Print page

More Information
Critical Acclaim
Contents
More Information
This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU’s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature.

The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU’s institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU’s budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul. The book’s basic premise is that one cannot fully understand EMU’s fiscal framework and the recent debate on its reform without placing them in a historical and institutional perspective and abstracting from the uniqueness of EMU, where sovereign countries retain a large degree of fiscal independence, and monetary policy is entrusted to an independent central bank with the overriding mission of maintaining price stability.

Analysing all aspects of EMU’s fiscal rules and institutions, this book will strongly appeal to students, academics and researchers of macroeconomic policy and European integration. Policymakers and fiscal policy experts at both national and international levels will also find the book to be of great interest.
Critical Acclaim
‘The book has many merits, and represents an important contribution to the controversial topic of European fiscal policy. I appreciated in particular the high quality and rigor of the analysis and the fact that the pros and cons of the contending opinions are presented in a fair way. It is a rewarding reading.’
– EAEPE Newsletter

‘Buti and Franco present a series of interesting analytical information which should be read by as broad an audience as possible. . . the book is a good buy.’
– László Csaba, Acta Oeconomica
Contents
Contents: Foreword 1. EMU’s Fiscal Rules in a Historical Perspective 2. The Maastricht Treaty and the Stability and Growth Pact 3. Medium-term Fiscal Targets 4. Cyclical Stabilization 5. Interactions between Monetary and Fiscal Policies 6. Public Investment 7. Long-term Sustainability 8. Fiscal Federalism 9. Politics and the Pact 10. Fiscal Rules and Statistics 11. Reforming EMU’s Fiscal Rules 12. National Budgets and the EU Budget 13. Postscript: A New Stability and Growth Pact? Bibliography Index
eBook for individuals
978 1 84542 671 2
From $40.00
Click here for options
eBook for library purchase
978 1 84542 671 2
View sample chapter and check access on:
eBook options

Available for individuals to buy from these websites

Or recommend to your institution to acquire on Elgaronline
  • Buy as part of an eBook subject collection - flexible options available
  • Downloading and printing allowed
  • No limits on concurrent user access, ideal for course use
My Cart