The Enforcement Dilemma of EU Fiscal Rules

IF 1.4 4区经济学 Q2 ECONOMICS

Economics & Politics Pub Date : 2025-01-25 DOI:10.1111/ecpo.12334

Georg Kirchsteiger, Martin Larch

引用次数: 0

Abstract

Effective enforcement is an essential element of any fiscal rule. The EU's Stability and Growth Pact has been struggling with this truism since inception. We show that its effectiveness goes beyond the threat of fines. The notion that deficit-prone member states adopt a more virtuous fiscal behaviour to avert sanctions is overshadowed by the realization that in the event of a major shock virtuous countries will come to their rescue as the survival of the entire system is at stake. Unless the underlying issues are addressed, the effectiveness of any EU fiscal rule remains limited.

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欧盟财政规则的执行困境

有效执行是任何财政规则的基本要素。欧盟的《稳定与增长公约》（Stability and Growth Pact）自成立以来就一直在与这一不言自明的事实作斗争。我们表明，它的有效性超越了罚款的威胁。有赤字倾向的成员国采取更良性的财政行为以避免制裁的观点，被这样一种认识所掩盖：一旦发生重大冲击，当整个体系的生存受到威胁时，良性国家将出手相救。除非根本问题得到解决，否则欧盟财政规则的有效性仍然有限。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics & Politics Multiple-

CiteScore

2.40

自引率

10.00%

发文量

期刊介绍： Economics & Politics focuses on analytical political economy, broadly defined as the study of economic and political phenomena and policy in models that include political processes, institutions and markets. The journal is the source for innovative theoretical and empirical work on the intersection of politics and economics, at both domestic and international levels, and aims to promote new approaches on how these forces interact to affect political outcomes and policy choices, economic performance and societal welfare. Economics & Politics is a vital source of information for economists, academics and students, providing: - Analytical political economics - International scholarship - Accessible & thought-provoking articles - Creative inter-disciplinary analysis