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Author
Gajda-Kantorowska Małgorzata (Uniwersytet Ekonomiczny w Krakowie / Kolegium Ekonomii, Finansów i Prawa), Tarnawska Katarzyna (Uniwersytet Ekonomiczny w Krakowie / Kolegium Ekonomii, Finansów i Prawa)
Title
Kontrowersje wokół roli Paktu stabilizacji i wzrostu jako instrumentu koordynacji polityki gospodarczej w ramach Unii Gospodarczo-Walutowej
Controversies around the Stability and Growth Pact as an Instrument for Coordinating Economic Policy within the Framework of Economic and Monetary Union
Source
Studia i Prace Wydziału Ekonomii i Stosunków Międzynarodowych / Uniwersytet Ekonomiczny w Krakowie, 2009, nr 2, s. 9-28, tab., bibliogr. 17 poz.
Keyword
Polityka gospodarcza, Unia Gospodarcza i Walutowa (UGW), Deficyt budżetowy, Polityka stabilizacyjna, Koordynacja polityki
Economic policy, Economic and Monetary Union (EMU), Budget deficit, Stabilisation policy, Policy coordination
Note
summ.
Company
Unia Europejska (UE)
European Union (EU)
Abstract
Celem niniejszego opracowania jest analiza skuteczności wprowadzonych rozwiązań służących koordynacji polityki makroekonomicznej w ramach unii walutowej, skutków wprowadzonych reform oraz próba oszacowania perspektyw koordynacji wspomnianych rodzajów polityki oraz prawdopodobieństwa osiągnięcia zakładanych celów, które ogólnie można sformułować jako poprawa poziomu dobrobytu krajów wchodzących w skład strefy euro. (fragment tekstu)

This article presents the debate around the effectiveness of the Pact introduced to maintain fiscal discipline in countries that have joined the European Union's monetary union. The deliberations focus mainly on the method of constructing the fiscal rules that are the basis of the Pact, which exposes the problem of choosing between the credibility and flexibility of the rules, given the prospect of no centralised fiscal policy in the longer term. Against the backdrop of criticism of the institutional solutions that reflect many of the assumptions of the so-called new monetarism, the authors propose in the article an Alternative Stability and Growth Pact based on Keynesian solutions. They also analyse the changes introduced in June 2005 as part of a reform of the Pact, under which some of the requirements were relaxed in regard to existing reference values for the relation of public sector deficit and debt to GDP. The reform also introduced some new elements that are the subject of analysis when assessing the fiscal position of member states.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
Bibliography
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  2. Arestis P., Mc Cauley K., Sawyer M., An Alternative Stability Pact for the European Union, Cambridge Journal of Economics, vol. 25, nr 1, 2001.
  3. Bean C.R., Economic and Monetary Union in Europe, "Journal of Economic Perspectives", Fall 1992, vol. 6.
  4. Beetsma R., An Analysis of The Stability Pact, Tilburg University and CEPR, May 1997, 5.
  5. Bayoumi T., Eichengreen B., Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization, IMF, Staff Papers, 42, 1.
  6. Ciszak T., Traktat konstytucyjny a Unia Gospodarcza i Walutowa, "Bank i Kredyt", styczeń 2005.
  7. Crowley P., Rowley R., Flaws and Omissions in the Maastricht Process for European Integration [w:] Economic Integration and Public policy in the European Union, eds. C.C. Paraskevopoulos, R. Grinspun, T. Georgakopoulos, EDWARD Elgar Cheltenham, UK-Brookfield, US, 6 September 1994.
  8. Hagen J. von, Eichengreen B., Federalism, Fiscal Restraints, and European Union, American Economic Review, Papers and Proceedings, 1996, nr 86, 2.
  9. Hoeller P., Louppe M.O., Vergriete P., Fiscal Relations Within The European Union, OECD Department of Economics and Statistics Working Papers nr 163, Paris 1996.
  10. Holzmann R., Herve Y., Demmel R., The Maastricht Fiscal Criteria: Required but Ineffective?, "Empirica" 1996, nr 23.
  11. Hughes Hallet A., Hutchinson M.M., Hougard Jansen S.E., Fiscal Aspects of Monetarny Integration, Cambridge University Press, 1999.
  12. Majocchi A., Fiscal Policy Rules and the European Constitution, The International Spectator, 2003, nr2.
  13. Micossi S., Economic Policy Coordination and Policy Regimes in the European Union, EPIN Working Paper 2, July 2002 [w:] A Constitutional Treaty for an Enlarged Union: Are there Fundamental Changes for EMU?, eds. I. Lindner, M. Stubits, Proceedings of OeNB Workshops, November 5, 2004, No. 4.
  14. Opinion of the European and Social Committee on Strengthening Economic Governance The Reform of the Stability and Growth Pact, ECO/160, Brussels, 15 February 2006.
  15. Oręziak L., Euro - nowy pieniądz, Wydawnictwo Naukowe PWN , Warszawa 2004.
  16. Sawyer M., The future of The Euro. Is There an Alternative to the Stability and Growth Pact?, The Jerome Levy Economics Institute of Bard College, Public Policy Brief, 2001, nr 63.
  17. Winkler B., Is Maastricht a Good Contract?, Journal of Common Market Studies, March 1999, vol. 37, nr 1.
Cited by
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ISSN
1898-6323
Language
pol
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