1. The Stability and Growth pPact
... the Amsterdam European Council meeting is not a Treaty document, but essentially invites all participants to abide by the Treaty and the Stability and Growth pact in a strict and timely manner. The resolution refers to the Council regulations "as a rule,", as an automatic procedure was ruled out ... could act as an effective coordination mechanism between fiscal and monetary policy in the eurozone (Buti, Roeger and in't Veld, 2001). Recent empirical research on the US suggests that indeed the Fed does respond to fiscal policy shocks (Canzoneri, Cumby and Diba, 2002), but fiscal shocks at...
- Word Count: 1678
- Approx Pages: 7
- Grade Level: Graduate