| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4993 |
| DP4993 Entry, Cost Reduction and Competition in The Portuguese Mobile Telephone Industry | |
| Pedro Pereira; Philippe Gagnepain | |
| 发表日期 | 2005-04-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | The paper proposes a theoretical analysis illustrating some key policy trade-offs involved in the implementation of a rules-based fiscal framework reminiscent of the Stability and Growth Pact (SGP). The analysis offers some insights on the current debate about the SGP. Specifically, greater ?procedural? flexibility in the implementation of existing rules may improve welfare, thus making the Pact more easily acceptable to euro area Member States. Here, procedural flexibility designates the enforcer?s room to apply well-informed judgment on the basis of underlying policies and to set a consolidation path that does not discourage high-quality policy measures. Yet budgetary opaqueness may hinder the qualitative assessment of fiscal policy, possibly destroying the case for flexibility. Also, improved budget monitoring and greater transparency increase the benefits from greater procedural flexibility. Overall, we establish that a fiscal pact based on a simple deficit rule with conditional procedural flexibility can simultaneously contain excessive deficits, lower unproductive spending and increase high-quality outlays. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal rules Stability and growth pact Procedural flexibility Deficits Structural reforms |
| URL | https://cepr.org/publications/dp4993 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533891 |
| 推荐引用方式 GB/T 7714 | Pedro Pereira,Philippe Gagnepain. DP4993 Entry, Cost Reduction and Competition in The Portuguese Mobile Telephone Industry. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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