Verfügbarkeit: Reconciling Stability and Growth

Reconciling Stability and Growth: Smart Pacts and Structural Reforms

This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The w...

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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 2003
Schriftenreihe:	IMF Working Papers Working Paper No. 03/174
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:	This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive ("smarter") if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission
Beschreibung:	1 Online-Ressource (34 p)
ISBN:	145185871X 9781451858716

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spelling	Beetsma, Roel M. W. J. Verfasser aut Reconciling Stability and Growth Smart Pacts and Structural Reforms Beetsma, Roel M. W. J Washington, D.C International Monetary Fund 2003 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 03/174 This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive ("smarter") if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission Online-Ausg Debrun, Xavier Sonstige oth http://elibrary.imf.org/view/IMF001/05588-9781451858716/05588-9781451858716/05588-9781451858716.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Beetsma, Roel M. W. J. Reconciling Stability and Growth Smart Pacts and Structural Reforms
title	Reconciling Stability and Growth Smart Pacts and Structural Reforms
title_auth	Reconciling Stability and Growth Smart Pacts and Structural Reforms
title_exact_search	Reconciling Stability and Growth Smart Pacts and Structural Reforms
title_exact_search_txtP	Reconciling Stability and Growth Smart Pacts and Structural Reforms
title_full	Reconciling Stability and Growth Smart Pacts and Structural Reforms Beetsma, Roel M. W. J
title_fullStr	Reconciling Stability and Growth Smart Pacts and Structural Reforms Beetsma, Roel M. W. J
title_full_unstemmed	Reconciling Stability and Growth Smart Pacts and Structural Reforms Beetsma, Roel M. W. J
title_short	Reconciling Stability and Growth
title_sort	reconciling stability and growth smart pacts and structural reforms
title_sub	Smart Pacts and Structural Reforms
url	http://elibrary.imf.org/view/IMF001/05588-9781451858716/05588-9781451858716/05588-9781451858716.xml
work_keys_str_mv	AT beetsmaroelmwj reconcilingstabilityandgrowthsmartpactsandstructuralreforms AT debrunxavier reconcilingstabilityandgrowthsmartpactsandstructuralreforms

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