Fiscal Policy in EMU: Simulating the Operation of the Stability Pact

K. Dury and Álvaro Pina

Economics Working Papers from European University Institute

Abstract: We study the prospective operation of the Stability Pact by stochastic simulation. Using a forward-looking multi-country macroeconometric model, NiGEM, comprising individual blocks for 10 Euroland economies, the Pact's provisions are formalized in detail, and alternative monetary and fiscal rules are compared.

Keywords: FISCAL POLICY; STOCHASTIC MODELS; SIMULATION; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E63 H62 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2000
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Citations: View citations in EconPapers (6)

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Journal Article: Fiscal policy in EMU: simulating the operation of the Stability Pact (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:eui:euiwps:eco2000/3

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