Discretionary Fiscal Policy and Elections: The Experience of the Early Years of EMU
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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An early criticism of the Stability and Growth Pact has pointed to its asymmetric nature and the weak mechanisms to prevent politically-motivated fiscal policies: its constraints would bite in downswings but not in upswings, especially if in the latter the electoral cycle increases the temptation to run expansionary policies. We find that the...
