Verfügbarkeit: Implementing the Stability and Growth Pact

Implementing the Stability and Growth Pact: Enforcement and Procedural Flexibility

The paper analyzes some key policy trade-offs involved in the implementation of the Stability and Growth Pact. Greater ""procedural"" flexibility in the Pact''s implementation may improve welfare. Procedural flexibility designates the enforcer''s room to apply...

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1. Verfasser:	Beetsma, Roel M. W. J. (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2005
Schriftenreihe:	IMF Working Papers Working Paper No. 05/59
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers
Zusammenfassung:	The paper analyzes some key policy trade-offs involved in the implementation of the Stability and Growth Pact. Greater ""procedural"" flexibility in the Pact''s implementation may improve welfare. Procedural flexibility designates the enforcer''s room to apply judgment on underlying policies and to set a consolidation path that does not discourage high-quality measures. Budgetary opaqueness may hinder the qualitative assessment of fiscal policy; therefore, better monitoring and greater transparency would increase the benefits from procedural flexibility. Overall, a simple deficit rule with conditional procedural flexibility can contain excessive deficits, lower unproductive spending, and increase high-quality outlays
Beschreibung:	1 Online-Ressource (34 p)
ISBN:	1451860781 9781451860788

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spelling	Beetsma, Roel M. W. J. Verfasser aut Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility Beetsma, Roel M. W. J Washington, D.C International Monetary Fund 2005 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/59 The paper analyzes some key policy trade-offs involved in the implementation of the Stability and Growth Pact. Greater ""procedural"" flexibility in the Pact''s implementation may improve welfare. Procedural flexibility designates the enforcer''s room to apply judgment on underlying policies and to set a consolidation path that does not discourage high-quality measures. Budgetary opaqueness may hinder the qualitative assessment of fiscal policy; therefore, better monitoring and greater transparency would increase the benefits from procedural flexibility. Overall, a simple deficit rule with conditional procedural flexibility can contain excessive deficits, lower unproductive spending, and increase high-quality outlays Online-Ausg Debrun, Xavier Sonstige oth http://elibrary.imf.org/view/IMF001/03444-9781451860788/03444-9781451860788/03444-9781451860788.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Beetsma, Roel M. W. J. Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility
title	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility
title_auth	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility
title_exact_search	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility
title_exact_search_txtP	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility
title_full	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility Beetsma, Roel M. W. J
title_fullStr	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility Beetsma, Roel M. W. J
title_full_unstemmed	Implementing the Stability and Growth Pact Enforcement and Procedural Flexibility Beetsma, Roel M. W. J
title_short	Implementing the Stability and Growth Pact
title_sort	implementing the stability and growth pact enforcement and procedural flexibility
title_sub	Enforcement and Procedural Flexibility
url	http://elibrary.imf.org/view/IMF001/03444-9781451860788/03444-9781451860788/03444-9781451860788.xml
work_keys_str_mv	AT beetsmaroelmwj implementingthestabilityandgrowthpactenforcementandproceduralflexibility AT debrunxavier implementingthestabilityandgrowthpactenforcementandproceduralflexibility

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MARC

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