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Nothing Ventured, Nothing Gained: The Long-Run Fiscal Reward of Structural Reforms

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Organisation for Economic Co-operation and Development2026-04-11 收录
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The recent reform of the Stability and Growth Pact provides more leeway for EU governments to temporarily breach the 3% deficit limit if this facilitates the implementation of initially expensive reforms. But the implementation of this principle is not obvious as budgets would need to specify the initial and multi-annual budgetary cost and benefit...
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