Fiscal rules and fiscal outcomes in EMU : theory and evidence
This thesis investigates the effects of supranational and national fiscal rules on fiscal outcomes in EMU. We investigate intended effects of the rules as well as circumventing behaviour in the form of shifts towards unconstrained forms of fiscal policy. The study is motivated by the strong increase...
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University of Reading
2008
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.494794 |
| Summary: | This thesis investigates the effects of supranational and national fiscal rules on fiscal outcomes in EMU. We investigate intended effects of the rules as well as circumventing behaviour in the form of shifts towards unconstrained forms of fiscal policy. The study is motivated by the strong increase in the reliance on fiscal rules - both at supranational and national level - during the 1990s and the existing controversy about the effectiveness of fiscal rules. Its contributions include new evidence on the effects of the preventive part and the debt rule of the EU fiscal framework on fiscal outcomes, and the measurement of the institutional design of national fiscal rules and analysis of their effects on fiscal outcomes. |
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