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Lars Jonung. Foto.

Lars Jonung

Professor emeritus

Lars Jonung. Foto.

Stability and Growth Pact of the European Union, the

Författare

  • Martin Larch
  • Lars Jonung

Summary, in English

While fiscal policy making in the EU is in the hands of national governments, it is to be carried out in accordance with commonly agreed rules: the Stability and Growth Pact (SGP). The SGP originates in the understanding that uncoordinated fiscal policy produces cross-border effects that can harm the functioning of the Economic and Monetary Union. For member states with an excessive deficit, that is, a general government deficit of more than 3 % of GDP, the SGP rules are more invasive. Since its inception in 1997, the SGP has undergone a series of amendments aimed at improving fiscal governance in the EU.

Avdelning/ar

  • Nationalekonomiska institutionen

Publiceringsår

2016-11-29

Språk

Engelska

Publikation/Tidskrift/Serie

The New Palgrave Dictionary of Economics

Dokumenttyp

Artikel i uppslagsverk

Förlag

Palgrave Macmillan

Ämne

  • Economics

Nyckelord

  • automatic stabilisers
  • discretionary fiscal policy
  • excessive deficit procedure
  • fiscal policy making
  • E6
  • H3
  • H6

Aktiv

Published

ISBN/ISSN/Övrigt

  • ISBN: 978-1-349-95121-5