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| Montserrat Ferré |
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| ''Multilateral surveillance in the Stability and Growth Pact: an analysis through information sharing'' |
| ( 2004, Vol. 5 No.15 ) |
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| In this article we use the concept of information sharing from oligopolistic games to analyse the multilateral surveillance of budget positions introduced with the Stability and Growth Pact. In a game between one monetary authority and various fiscal authorities, we will show that the multilateral surveillance does not lead to closer to target average budget deficits compared to a benchmark case of no surveillance. |
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| Keywords: |
JEL: E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General
H3 - Fiscal Policies and Behavior of Economic Agents: General |
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| Manuscript Received : Apr 29 2004 | | Manuscript Accepted : Aug 07 2004 |
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