Fiscal Policy Surveillance in Europe

List of Tables List of Figures Foreword Acknowledgments List of Contributors Introduction; P.Wierts, S.Deroose, E.Flores & A.Turrini PART 1: MEASUREMENT ISSUES IN BUDGETARY SURVEILLANCE Large and Unknown Implicit Liabilities: Policy Implications for the Eurozone; C.Wyplosz Fiscal Gimmickry in Europe: One-off Measures and Creative Accounting; V.Koen & P.J.van den Noord Non-discretionary and Automatic Fiscal Policy in the EU and the OECD; J.Mélitz Comment Part I; M.Buti PART II: FISCAL DECENTRALIZATION: ACHIEVING HARD BUDGET CONSTRAINTS Fiscal Decentralization: How to Harden the Budget Constraint; M.Bordignon Achieving Fiscal Discipline in Federations: Germany and the EMU; J.Rodden Business Cycles and the Political Economy of Decentralized Finance: Lessons for Fiscal Federalism in the EU; E.Wibbels & J.Rodden Comment Part II; T.Ter-Minassian PART III: ENLARGEMENT: FISCAL SURVEILLANCE ON THE ROAD TO EMU Financial Stability During Convergence: What can Fiscal Policy Contribute? M.Watson Contingent Liabilities in New Member States; H.P.Brixi Comment Part III; F.Keereman PART IV: PUBLIC FINANCES, EFFICIENCY AND EQUITY: WHAT ARE THE TRADE-OFFS? Reforming Public Expenditure in Industrialised Countries: Are There Trade-Offs? L.Schuknecht & V.Tanzi Reforming the Public Sector in Europe: Reconciling Equity and Efficiency; R.de Mooij & P.Tang Comment Part IV; L.Jonung Notes Bibliography