1. The Stability and Growth pPact
... But one particular feature of the criteria used in the SGP was the cyclical nature of the budget deficits - in booms they automatically fall, and in recessions, they automatically rise ( - these components are called "automatic stabilizers"). Manyuch of the recent problems with the SGP stem from the ... US state experiences a negative shock, then the US federal system allows fiscal transfers to flow from other states to that state to offset the impact; such fiscal transfers - this only only exists in the EU to a very limited extent. The argument that a fiscal policy crisis in ... 0.75 pe...
- Word Count: 1678
- Approx Pages: 7
- Grade Level: Graduate