Fiscal Policy and Monetary Integration in Europe

A popular view among economists, policymakers, and the media, is that the Maastricht Treaty and then Stability and Growth Pact have significantly impaired the ability of EU governments to conduct a stabilizing fiscal policy and to provide an adequate level of public infrastructure. In this paper, we在经济学界、政策制定者群体与媒体中，一种广为流传的观点认为：《马斯特里赫特条约》（Maastricht Treaty）及后续的《稳定与增长公约》（Stability and Growth Pact）已显著削弱了欧盟成员国政府推行稳定型财政政策，以及提供充足公共基础设施的能力。本文中，我们