| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5661 |
| DP5661 The Dynamics of the Racial Test Score Gap During the School Years in Britain | |
| Yves Zenou; Eleonora Patacchini | |
| 发表日期 | 2006-05-28 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The paper provides an assessment of the effect of the recent revision of the Stability and Growth Pact (SGP) on the European economies. A set of structural VARs, one for each Eurozone country, is estimated. The estimated models are then used to assess the possible effect of alternative sets of fiscal rules, with particular attention to the SGP in its old and reformed versions. The results suggest that fiscal policy has had in the past a limited smoothing effect on the cycle and therefore the cost of the old rules in the ?corrective? arm of the Pact was also limited. As for the reform of the Pact the analysis is overall supportive of the new country-specific Medium term Objectives. The modified rules of the excessive deficit procedure are likely to give governments only a limited extra leeway to reduce the variability of the cycle. |
| 主题 | International Macroeconomics |
| 关键词 | European monetary union Stability and growth pact Fiscal-monetary interactions |
| URL | https://cepr.org/publications/dp5661 |
| 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/534539 |
| 推荐引用方式 GB/T 7714 | Yves Zenou,Eleonora Patacchini. DP5661 The Dynamics of the Racial Test Score Gap During the School Years in Britain. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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