Fiscal Governance In Europe
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Playing By The Rules
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Author : Luc Eyraud
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-24
Playing By The Rules written by Luc Eyraud and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-24 with Business & Economics categories.
The paper contributes to the discussions on fiscal governance in Europe. It takes stock of recent reforms, identifies areas for further progress, and discusses a menu of policy options for the medium-term. The issues covered include: (i) the growing complexity of the European framework and ways to simplify it; (ii) the difficulties to measure and implement structural stance indicators; (iii) the challenge of reconciling fiscal sustainability and growth; (iv) the need to enhance coordination in the area of monitoring; and (v) the obstacles to compliance and proposals to strengthen enforcement.
Fiscal Governance In Europe
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Author : Mark Hallerberg
language : en
Publisher: Cambridge University Press
Release Date : 2009-03-16
Fiscal Governance In Europe written by Mark Hallerberg and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-16 with Business & Economics categories.
Based on data from European Union countries, this book presents a theoretical framework to discuss how governments coordinate budgeting decisions.
Reforming Fiscal Governance In The European Union
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Author : Michal Andrle
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-21
Reforming Fiscal Governance In The European Union written by Michal Andrle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-21 with Business & Economics categories.
Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.
Reforming Fiscal Governance In The European Union
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Author :
language : en
Publisher:
Release Date : 2015
Reforming Fiscal Governance In The European Union written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Fiscal policy categories.
Successive reforms have brought many positive elements to the European Union's fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.
Domestic Budgets In A United Europe
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Author : Mark Hallerberg
language : en
Publisher: Cornell University Press
Release Date : 2004
Domestic Budgets In A United Europe written by Mark Hallerberg and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Under European Monetary Union, member states lose the ability to steer their economies by manipulating monetary policy. Domestic Budgets in a United Europe, which explains the content, evolution, and effectiveness of fiscal institutions, will be the definitive account of European budget reform in the late twentieth century.Mark Hallerberg examines the making of budgets in EU countries from 1973 to 2000 and explores why those countries introduced fiscal rules when they did. In 1993, when the fiscal-policy criteria for monetary union were first announced, only Luxembourg and the Republic of Ireland would have qualified. In 1997, only Greece failed. Various explanations have been advanced for this rapid turnaround, including luck (a favorable economic climate reduced pressures on local budgets), accounting tricks, and the increasing pressures caused by international capital mobility. Underlying these various explanations is a basic skepticism about whether countries in the European Union actively worked to reform their national budgeting procedures. In rich case studies, Hallerberg shows that the member-states did indeed reform their budget institutions. Many of them, he finds, had started that process long before the formal signing of the Maastricht Treaty of 1991, making domestic changes that allowed them to qualify individually under EMU criteria.
Fiscal Austerity And Innovation In Local Governance In Europe
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Author : Carlos Nunes Silva
language : en
Publisher: Routledge
Release Date : 2016-04-15
Fiscal Austerity And Innovation In Local Governance In Europe written by Carlos Nunes Silva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-15 with Political Science categories.
Following the financial crisis and subsequent impacts of economic slowdown and austerity, the emergence of new local governance models and innovation is a very timely issue. The same goes for identifying new types of funding schemes and fiscal models prompted by austerity with the reduction in financial resources for local governments. This book offers a broad perspective on some of the organizational and financial problems faced by cities and local governments across Europe and analyses the reactions and reforms implemented to address current economic and public finance conditions. The geographical coverage of the case studies, multidisciplinary background of the contributing authors and focus on a multiplicity of issues and challenges that confront local governments, not just financial issues as is often the case, means this book is relevant to a wide readership. The book is written for post-graduate students, advanced undergraduates, and researchers in the multidisciplinary field of local government studies (Public Administration, Geography, Political Science, Law, Economy and Sociology), as well as practitioners working in local government institutions.
Enforcement And The Stability And Growth Pact How Fiscal Policy Did And Did Not Change Under Europe S Fiscal Framework
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Author : Anthony Annett
language : en
Publisher: International Monetary Fund
Release Date : 2006-05
Enforcement And The Stability And Growth Pact How Fiscal Policy Did And Did Not Change Under Europe S Fiscal Framework written by Anthony Annett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05 with Business & Economics categories.
The Stability and Growth Pact has been a success in numerous EU countries, especially in guiding them toward underlying fiscal balance ahead of population aging. These countries tend to be smaller, subject to greater macroeconomic volatility, and reliant on a form of fiscal governance that emphasizes targets and contracts. Most of the new members share these characteristics. For the countries less compatible with the Pact, domestic governance reforms that increase the reputational costs for noncompliance can be useful complements to the fiscal framework.
Legal Foundations Of Eu Economic Governance
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Author : Antonio Estella de Noriega
language : en
Publisher: Cambridge University Press
Release Date : 2018-09-06
Legal Foundations Of Eu Economic Governance written by Antonio Estella de Noriega and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-06 with Law categories.
A critical analysis of the legal dimension of European Union economic governance.
Designing A European Fiscal Union
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Author : Mr.Carlo Cottarelli
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-05
Designing A European Fiscal Union written by Mr.Carlo Cottarelli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-05 with Business & Economics categories.
Does the European Union need closer fiscal integration, and in particular a stronger fiscal centre, to become more resilient to economic shocks? This book looks at the experience of 13 federal states to help inform the heated debate on this issue. It analyses in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and draws lessons for a possible future fiscal union in Europe. More specifically, this book tries to answer three sets of questions: What is the role of centralized fiscal policies in federations, and hence the size, features and functions of the central budget? What institutional arrangements are used to coordinate fiscal policy between the federal and subnational levels? What are the links between federal and subnational debt, and how have subnational financing crises been handled, when they occurred? These policy questions are critical in many federations, and central to the current discussions about future paths for the European Union. This book brings to the table new, practical insights through a systematic and comprehensive comparison of the EU fiscal framework with that of federal states. It also departs from the decentralization perspective that has been prominent in the literature by focusing on the role of the centre (which responsibilities are centralized at the federal level and how they are handled, rather than which functions belong to the local level). Such an approach is particularly relevant for the European Union, where a fiscal union would imply granting new powers to the centre.
Toward A Fiscal Union For The Euro Area
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Author : Céline Allard
language : en
Publisher: International Monetary Fund
Release Date : 2013-09-25
Toward A Fiscal Union For The Euro Area written by Céline Allard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-25 with Business & Economics categories.
This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged in Europe, and it will be important to put out staff views on this issue. In that context, publication as an SDN is appropriate, given the high profile nature and relevance of the topic—much like the Banking Union paper done a few months ago.