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The SGP - faulty by design or made faulty by politicians? An assessment based on simulation model.

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F13%3A00069663" target="_blank" >RIV/00216224:14560/13:00069663 - isvavai.cz</a>

  • Result on the web

    <a href="https://mme2013.vspj.cz/about-conference/conference-proceedings" target="_blank" >https://mme2013.vspj.cz/about-conference/conference-proceedings</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    The SGP - faulty by design or made faulty by politicians? An assessment based on simulation model.

  • Original language description

    By joining the European Monetary Union (the ?EMU?) member countries lost the ability to use the monetary policy as a tool of macroeconomic regulation. The attention was than focused on the regulation of the fiscal policy and the agreed instrument was theStability and Growth Pact (the "SGP"). States of the EMU have agreed to satisfy the 3% of GDP for the maximum annual public budgets deficit. Based on the evolution of the public debt in member countries we can say that the SGP has failed as a tool of fiscal discipline. In this paper we answer the question whether the failure was given due to incorrect concept of the SGP or whether the development of the debt was affected more by arbitrary disrespect of agreed rules. The two reasons mentioned above areinterdependent. To separate them, we construct a dynamic model of EU countries public debt. By using real data we simulate the potential values of public debt in a situation where the SGP rules had been respected in recent years.

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2013

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    Proceedings of the 31st International Conference Mathematical Methods in Economics 2013

  • ISBN

    9788087035764

  • ISSN

  • e-ISSN

  • Number of pages

    6

  • Pages from-to

    279-284

  • Publisher name

    College of Polytechnics Jihlava

  • Place of publication

    Jihlava

  • Event location

    Jihlava

  • Event date

    Jan 1, 2013

  • Type of event by nationality

    EUR - Evropská akce

  • UT code for WoS article