How could the Stability and Growth Pact be simplified?
An assessment of the present SGP fiscal rules reveals a significant deterioration in simplicity, undermining their effectiveness. In fact, in both design and process, they have become the most complex worldwide. Three options for future reform are offered to correct this deficiency. Under the first, the structural balance and the debt convergence targets are replaced with a debt-stabilizing or -reducing primary surplus target, while retaining the expenditure benchmark. The second consolidates all current rules into a single operational debt rule by setting a limit on the discretionary budget deficit, derived from the debt reduction target. The third option consists of a market-based approach, inspired by the oldest and most successful subnational fiscal frameworks.
Analiżi fil-Fond
Awtur estern
George Kopits
Dwar dan id-dokument
Tip ta’ pubblikazzjoni
Kelma għat-tiftix
- EKONOMIJA
- ekonomija monetarja
- FINANZI
- governanza
- governanza ekonomika (UE)
- POLITIKA
- politika ekonomika
- politika ekonomika
- politika fiskali
- politika monetarja
- relazzjonijiet monetarji
- rkupru ekonomiku
- setgħa eżekuttiva u servizz pubbliku
- sitwazzjoni ekonomika
- Stat Membru tal-UE
- tassazzjoni
- Unjoni Ekonomika u Monetarja
- ĠEOGRAFIJA
- ġeografija ekonomika
- żona tal-euro
- żvilupp ekonomiku