European Union (EU) fiscal rules have been suspended until at least the end of 2021. When
they are reinstated, they will need to be modified, if only because of the high levels of debt …

Rather than stabilising aggregate demand, discretionary fiscal policy tends to amplify
cyclical fluctuations of output. The commonly accepted reasons are political economy and …

The EU's fiscal framework needs reform. While existing fiscal rules have had some impact in
constraining deficits, they did not prevent deficits and debt ratios that have threatened the …

Governments face difficult policy trade-offs with record debt levels, tightening monetary
policies, and urgent demands, including food and energy crises, the climate agenda, and …

We discuss the main fiscal policy issues in Europe, focusing on two that are at the core of the
current debate. The first is that the government deficit and debt were, from the outset, the key …

During the pandemic crisis, the fiscal rules of the Stability and Growth Pact have been
temporarily suspended, invoking the general escape clause. Returning to a strict …

This paper argues that in reserve currency issuing economies at the effective lower bound,
outright transfers from the central bank to households are both more equitable and more …

The relationship between sustainable growth and public investment, considered one of the
key factors, is a topic of interest in the context of globally adopted sustainable development …

Using a panel of 86 advanced and emerging market economies over the period 1985–2020,
we investigate the short-to-medium term effects of fiscal rules on primary balances. We …

The Economics of Fiscal Rules and Debt Sustainability Page 1 Beetsma, Roel Article The
Economics of Fiscal Rules and Debt Sustainability Intereconomics Suggested Citation …