Deficits and Debts
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Prepare for the credit crisis to spread
03.09.2007
By: Wolfgang Münchau
This is not a liquidity crisis, but a solvency crisis, and central banks should stand ready to support the economy if and when this crisis begins to have real effects, which it will no doubt.
France's fiscal follies
15.06.2007
By: André Sapir, Université Libre de Bruxelles
Why Commissioner Almunia is right to urge France to stick to its commitment under the SGP.
Why the German corporate tax reform is misguided
27.04.2007
By: Sebastian Dullien, FT Deutschland and Eurozone Watch
Germany's corporate tax reform is a prime – maybe the worst - example of the Grand Coalition’s inability to conduct sound economic policies. It also shows the weakness of the Social Democrats to defend their principles and the interest of their own constituency.
Tying hands is not commitment to fiscal discipline
26.03.2007
By: Xavier Debrun, Graduate Institute of International Studies, Bruegel
The natural policy implication is that any country exhibiting poor fiscal performance could easily fix the problem by enacting institutional reform (e.g. stricter fiscal rules). But governments have no incentive to “tie their own hands” unless there are significant electoral costs. Such arrangements are more likely to be effective in countries where fiscal discipline is more highly valued by the population at large. In such countries, elected governments run responsible fiscal policies even in the absence of strict rules. They may adopt them merely to signal that they indeed share society’s preference for fiscal discipline.
24.01.2007 Our take on deficit reduction
19.01.2007 A Perfect Fiscal Winter Storm
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