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Fiscal Perspectives in Europe: Convergence and Debt’s Burden. CES Working Paper, no. 124, 2005

Warin, Thierry. (2005) Fiscal Perspectives in Europe: Convergence and Debt’s Burden. CES Working Paper, no. 124, 2005. [Working Paper]

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    Abstract

    The paper addresses the question of the fiscal perspectives within the Economic and Monetary Union (EMU). By using a panel data analysis associated with an interpretation in terms of differences instead of levels, the results show a steady convergence of public deficits across the EMU, and that the EMU needs either to comply with the Lisbon agenda, or some kind of a growth strategy, or reduce the interest of the debt in order to regain some fiscal flexibility while abiding by the Stability and Growth Pact (SGP).

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    Item Type: Working Paper
    Uncontrolled Keywords: Europe, Fiscal policy, Stability and Growth Pact, Error component model
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    EU policies and themes > Policies & related activities > economic and financial affairs > Stability and Growth Pact
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > Lisbon StrategyAgenda/Partnership for Growth and Employment
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Harvard University, Center for European Studies > CES Working Papers Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 18 Aug 2009
    Page Range: p. 14
    Last Modified: 15 Feb 2011 17:58
    URI: http://aei.pitt.edu/id/eprint/9033

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