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Fiscal Policy in Economic and Monetary Union

Theory, Evidence & Institutions

Fiscal Policy in Economic and Monetary Union by M. Buti
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This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU's budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature. The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU's institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU's budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul.
Edward Elgar Publishing; January 2005
320 pages; ISBN 9781845426712
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Title: Fiscal Policy in Economic and Monetary Union
Author: M. Buti; D. Franco
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