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Reforming Europe’s Stability and Growth Pact: Lessons from the American Experience in Macrobudgeting

Savage, James D., and Verdun, Amy. (2007) Reforming Europe’s Stability and Growth Pact: Lessons from the American Experience in Macrobudgeting. In: UNSPECIFIED, Montreal, Canada. (Unpublished)

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    Abstract

    Proposed and actual reforms to the European Union (EU) Stability and Growth Pact commonly retain the Pact’s deficit and debt targets. The American experience with similar macrobudgetary rules suggests that deficit targets may actually act as an incentive for political leaders to engage in noncompliant behavior. If targets were revised to budgetary objectives that politicians could achieve more easily and claim credit for accomplishing, compliance with the new macrobudgetary rules might be increased.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Uncontrolled Keywords: Balanced Budgets; Excessive Deficit Procedure; Public Finance Stability and Growth Pact; United States.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > budgets & financing
    EU policies and themes > External relations > EU-US
    EU policies and themes > Policies & related activities > economic and financial affairs > Stability and Growth Pact
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 2007 (10th), May 17-19, 2007
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 24 Jun 2008
    Page Range: p. 42
    Last Modified: 15 Feb 2011 17:51
    URI: http://aei.pitt.edu/id/eprint/8018

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