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Règles Budgétaires et Gestion du Policy-Mix dans l'UEM Budgetary Rules and Management of the Policy-Mix in the UME

Schalck, Christophe (2006): Règles Budgétaires et Gestion du Policy-Mix dans l'UEM Budgetary Rules and Management of the Policy-Mix in the UME.

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Abstract

This papper proposes a comparison of EMU's different fisca rules, i.e. the stability and growth Pact, the structural deficit rule and the golden rule. From comparing the economic stabilizing effects and their consistency with the monetaty policy, it concludes that the Pact is better in the case of a supply shock, and the golden rule is better in the case of a demand shock

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