Deficits, Debt and European Monetary Union: Some Unpleasant Fiscal Arithmetic

Georg Winckler, Eduard Hochreiter and Peter Brandner
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Georg Winckler: University of Vienna
Peter Brandner: Universtty of Vienna

Chapter 10 in The Debt Burden and its Consequences for Monetary Policy, 1998, pp 254-282 from Palgrave Macmillan

Abstract: Abstract There is now a rapidly growing literature dealing with the relationship between fiscal and monetary policies in complete or incomplete monetary unions.2 Much of this literature is a reaction to the Delors Report and to the Maastricht Treaty. The Report suggested and the Treaty institutionalized binding fiscal rules for monetary convergence. Since then these rules have been intensively debated. Many authors regard them as superfluous or as arbitrarily fixed.

Keywords: Monetary Policy; Central Bank; Fiscal Policy; Public Debt; European Central Bank (search for similar items in EconPapers)
Date: 1998
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Working Paper: Deficits, Debt and European Monetary Union: Some Unpleasant Fiscal Arithmetic (1996)
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DOI: 10.1007/978-1-349-26077-5_10

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