Heinz Dieter Wenzel Libros

Monetary policy and fiscal policy are connected in various ways. This is why the adoption of the Euro as a common European currency has been accompanied by the setup of the European Union’s Stability and Growth Pact, a framework for the coordination of the EU countries’ fiscal policies. In this paper, we provide a short overview of the SGP’s history of origins and the degree to which the EU Member States adhered to it. Further, we analyse what effects public debt and public deficits have and whether, after all, public debt should be limited in one way or the other. Along these lines, the case for budgetary policy coordination in the special context of the Economic and Monetary Union is presented. After looking at the current SGP framework, we shed light on its main shortcomings and present various reform proposals, all of which are critically questioned. Finally, we present a case for a more flexible country-by-country approach to the interpretation of the deficit criterion (based on some simple algebra)

TABLE OF CONTENTS: Preface - I. DEVELOPMENT ECONOMICS - 1. GUNTHER GRATHWOHL: The Macroeconomic Structure of Less Developed Countries ... 3 - II. RESEARCH ON THE ALBANIAN ECONOMY - 2. ARJETA ABAZI: Albania and its Monetary Transmission Mechanism ... 27 - 3. DORIANA DERVISHI: The Countries of Region and the Challenge of Economic Integration ... 35 - 4. ERMELINDA FEJZULLA: A Review of the Controversies and Evaluation Approaches on the International Monetary Fund's Supported Programs .. 43 - 5. ARSENA GJIPALI: Emigration and its Economic Consequences; the Transition Phase of Albania ... 63 - 6. ELIDA LIKO: Exchange Rate Variability and Policy Implication ... 71 - 7. SUELA THIMO: The Increase of Competition: an Important Factor for a Successful Transition ... 83 - III. RESEARCH ON OTHER TRANSITION ECONOMIES - 8. DOBRICZA ANIKÓ: A Debt Rate Paradox: Why is home financing not as effective as it was thought to be? ... 97 - 9. DŽENAN DONLAGIC: Monetary Policy in Bosnia and Herzegovina - Currency Board Arrangement ... 105 - 10. ADNAN EFENDIC: Specifics of Transition Process in BiH - Framework of Development Strategy for BiH ... 111 - Seminar Participants ... 119 - Seminar Program ... 123

In der Europäischen Union gilt das in den einschlägigen EU-Verträgen kodifizierte Binnenmarktprinzip. Vor allem dann, wenn nationale Normen der Verwirklichung der EU-Ziele zuwiderlaufen können, wird den Mitgliedstaaten ein einheitliches und koordiniertes politisches Vorgehen abverlangt. Insbesondere Maßnahmen, die eine Ungleichbehandlung in- und ausländischer Akteure bewirken, können oftmals gegen den Einheitlichen Europäischen Binnenmarkt verstoßen und müssen daher verworfen werden. Während der Bereich der indirekten Besteuerung nach Art. 93 EGV einem klaren Harmonisierungsgebot unterliegt, findet sich für den Bereich der direkten Steuern keine entsprechende Norm, obwohl eine EUZielbeeinflussung scheinbar eher die Regel als die Ausnahme darstellt. Die gesetzgeberische Kompetenz der Mitgliedsländer zur supranationalen Zielerreichung führt zu einer völlig arteigenen und ineffizienten Gesetzgebung.