European Economy. Economic Papers
Edited by S. Deroose, E. Flores and A. Turrini (Directorate-General for Economic and Financial Affairs)
Proceedings from the ECFIN Workshop "The budgetary implications of structural reforms" - Brussels, 2 December 2005 - S. Deroose, E. Flores and A. Turrini(2 MB)
(European Economy. Economic Papers. 248. May 2006.
Brussels. 212pp. Tab. Free.)
KC-AI-06-248-EN-C ISBN: 92-79-01189-8 ISSN: 1725-3187
Most of the reforms discussed within the framework of the Lisbon strategy will benefit public finances in the long term. However, in the short-term, there could a trade-off between some structural reforms and budgetary discipline. This possible tension between reforms and fiscal discipline was identified by academic economists as a possible drawback of the Stability and Growth Pact since its inception.