Title:Close to Balance or in Surplus: A Policy Maker's Guide to the Implementation of the Stability and Growth Pact
Author(s):ARTIS, Michael J.; BUTI, MarcoDate:2000Type of Publication:Working PaperSeries/Report no.:CEPR Discussion PaperAbstract:Under the Stability and Growth Pact, countries are committed to achieving medium-term budget positions of “close to balance or in surplus”. The rationale for this commitment is that such budgetary positions would allow for ...