The myth or folly of the 3% deficit/GDP Maastricht 'parameter.'

Article Abstract:

An examination of the public finances of European countries planning to join European monetary union (Emu) shows that only Italy and Belgium are within the sustainability area. All the other European countries examined are outside this area. This area is measured using data for the end of 1996, and relates the budget deficit, public debt, gross domestic product and the rate of growth. The finding is contrary to what is usually represented in discussions on the topic.

International Affairs, European Community, Economic policy, European Union, Western Europe, Monetary unions, Budget deficits

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The Cambridge School of Keynesian Economics

Article Abstract:

The contributions of the Cambridge School of Keynesian Economics to the economic literature are discussed.

Forecasts, trends, outlooks, England, Forecasts and trends, Schools, Market trend/market analysis, Keynesian economics

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On concepts of debt sustainability: a reply to Dr Harck

Article Abstract:

Issues relating to public debt sustainability are examined in detail as part of a debate on definitions.

Analysis, Economic development, Fiscal policy

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