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Improving the SGP :
Improving the SGP : Taxes and Delegation Rather than Fines
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- Lindbeck, Assar (author)
- Stockholms universitet,Institutet för internationell ekonomi
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- Niepelt, Dirk (author)
- Stockholms universitet,Institutet för internationell ekonomi
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(creator_code:org_t)
- Stockholm : IIES, 2004
- English 28 s.
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Series: Seminar Paper / Institute for International Economic Studies, Stockholm University. (Online), 1653-610X ; 733
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Abstract
Subject headings
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- We analyze motivations for, and possible alternatives to, the Stability and Growth Pact (SGP). With regard to the former, we identify domestic policy failures and various cross-country spillover effects; with regard to the latter, we contrast an “economic-theory” perspective on optimal corrective measures with the “legalistic” perspective adopted in the SGP. We discuss the advantages of replacing the Pact’s rigid rules backed by fines with corrective taxes (as far as spillover effects are concerned) and procedural rules and limited delegation of fiscal powers (as far as domestic policy failures are concerned). This would not only enhance the efficiency of the Pact, but also render it easier to enforce.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Stability and Growth Pact
- spillover effects
- policy failures
- Pigouvian taxes
- policy delegation
- Economics
- Nationalekonomi
Publication and Content Type
- vet (subject category)
- rap (subject category)
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