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Fiscal rules: timing is everything. Bruegel Policy Brief 2012/02, September 2012

Marzinotto, Benedicta. and Sapir, André (2012) Fiscal rules: timing is everything. Bruegel Policy Brief 2012/02, September 2012. [Policy Paper]

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    Abstract

    The strengthening of the European Union’s fiscal rules with the approval of the so-called ‘six-pack’, and the parallel worsening of economic conditions in Europe, re-opened the debate about the relationship between fiscal discipline and growth. Influential voices have argued against the EU’s perceived obsession with fiscal discipline, which risks being self-defeating in bad times. However, EU fiscal rules are not as rigid as commonly thought, but represent a sophisticated system of surveillance and ex-post control that provides sufficient room for manoeuvre under exceptional circumstances.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 02 Oct 2012 13:23
    Number of Pages: 8
    Last Modified: 02 Oct 2012 13:23
    URI: http://aei.pitt.edu/id/eprint/36832

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