Sustainability of Public Finances
- ISBN-10
- 1898128359
- ISBN-13
- 9781898128359
- Category
- Business & Economics
- Pages
- 67
- Language
- English
- Published
- 1998
- Publisher
- Centre for Economic Policy Research
- Authors
- Jurgen Von Hagen, Centre for Economic Policy Research, Rolf Strauch
Description
A central tenet of the Maastricht Treaty is that a successful European Monetary Union requires sustainable public finances of its member states, yet there is no clear definition of sustainability. This book develops a concept of sustainability focusing on the controllability of public finances. After reviewing the theoretical and empirical arguments for a disaggregate and institutions-oriented approach to correcting non-sustainable deficits, the authors propose a practical procedure to assess the sustainability of a country's public finances.
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