内容

目次

1. Fiscal aspects of European monetary integration: an introductionAndrew Hughes Hallett, Michael M. Hutchison and Svend E. Hougaard Jensen;Part I. Institutions and Political Economy: 2. Institutions and fiscal policyin EMU Niels Thygesen; 3. A political economy analysis of the Maastricht andStability Pact fiscal criteria Thomas F. Willett; Part II. AutomaticStabilizers in a Monetary Union: 4. Budgetary norms and EMU Torben M.Andersen and Robert Dogonowski; 5. Regional adjustment and the welfareeconomics of monetary unification: what are the benefits of exchange rateflexibility and fiscal insurance? Kenneth M. Kletzer; 6. Nominal stability,real convergence, and fiscal transfers in a monetary union Svend E. HougaardJensen; Discussion: Automatic Stabilizers and Fiscal Transfers Neil Rankin;Part III. The Stability and Growth: Pact 7. The Stability Pact: Trading-offFlexibility for Credibility? Michael Artis and Bernhard Winkler; 8. Thestability and growth pact in a model with politically-induced deficit biasesRoel M. W. J. Beetsma; 9. Implications of the Growth and Stability Pact: whythe growth element is important Andrew Hughes Hallett and Peter McAdam;Discussion: the Stability Pact and Fiscal Policy Clas Wihlborg; Part IV.Asymmetric Business Cycles and Fiscal Linkages in Europe: 10. Costs of EMUand economic convergence Michael Bergman and Michael M. Hutchison; 11. Fiscalconsolidation in Europe: some empirical issues Christopher Allsopp, WarwickMcKibben and David Vines; 12. Could the ins hurt the outs? A welfare analysisof International Financial Fiscal Links Giancarlo Corsetti and Paolo Pesenti;Discussion: insiders and outsiders in EMU Paul De Grauwe.