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| Tekijä: | Greiner, A. Köller, U. Semmler, W. |
| Otsikko: | Debt sustainability in the European monetary union: Theory and empirical evidence from selected countries |
| Lehti: | Oxford Economic Papers
2007 : APR, VOL 59:2, p. 194-218 |
| Asiasana: | fiscal policy usa EUROPEAN MONETARY SYSTEM |
| Vapaa asiasana: | sustainability |
| Kieli: | eng |
| Tiivistelmä: | This paper discusses sustainability on fiscal policy in Euro-area countries that have a high debt to GDP ratio or have recently violated the Maastricht treaty by permitting more than three percent of the decifit to GDP ratio. The authors argue that for the countries in question fiscal policy shows signs of sustainability, altough the three percent rule might be temporarily violated. Results are also compared to results obtained from the US fiscal policy. |
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