Fiscal Policy Surveillance in Europe

The creation of the Economic and Monetary Union (EMU) and the introduction of the euro have given a strong impetus to fiscal policy coordination in the European Union (EU). The EU fiscal framework and the Stability and Growth Pact provide for the systematic surveillance of the fiscal policies of the large and heterogeneous group of 25 Member States. In this book, contributors from leading academic and international-policy institutions give a comprehensive overview of the central themes of current fiscal policy, including the impact of ageing populations on fiscal sustainability, the conduct of fiscal policy over the economic cycle, creative accounting in response to fiscal rules, fiscal decentralization, EU enlargement, and the link between expenditure reform and economic growth.