A Critique of the Caps on Deficits and Debt in the European Monetary Union
Abstract The reference values for public deficits and debt came into the Maastricht Treaty more or less by coincidence. Later attempts to justify them in terms of economic theory failed. The values narrow fiscal space for member states with high debt and tend to create debt levels that are too low i...
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| Format: | Article |
| Language: | deu |
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Springer
2020-07-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-020-2701-8 |