{"id":84511,"date":"2024-01-22T08:56:29","date_gmt":"2024-01-22T07:56:29","guid":{"rendered":""},"modified":"2026-02-17T16:04:22","modified_gmt":"2026-02-17T15:04:22","slug":"the-stability-and-growth-pact-motivation-and-costs-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/84511\/","title":{"rendered":"The Stability and Growth Pact. Motivation and Costs"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-84511","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Under the Stability Pact all member states of the future European Monetary Union commit themselves to achieving balanced budgets in a few years' time. If the agreed threshold for the public sector deficit of 3 percent of GDP is overstepped or the structural deficit continues to be high, the result is direct and indirect costs for EMU member countries. Seen at a European level, Austria's fiscal policy appears sufficiently flexible to ensure that both direct and indirect costs from the Stability Pact can be avoided. Nevertheless, it will be necessary to continue efforts to reduce the structural deficit over the next years.","onlinedate":"1997-07-01 02:00:00","lang":"English","publication_series":"","publication_date":"19970701","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"The Stability and Growth Pact. Motivation and Costs\"]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"https:\/\/www.wifo.ac.at\/wwa\/pubid\/417","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"2","monthly_report_pages":"145-154","monthly_report_pages_sort":"145","issue":"3","journal":"Austrian Economic Quarterly","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[183747],"research_groups":[3500],"collaboration":"","persons":[3899],"persons_data":"[{\"personId\":3899,\"personName\":\"Thomas Url\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Url, T.<\\\/span> (1997). <span>The Stability and Growth Pact. Motivation and Costs<\\\/span>. <span><em>Austrian Economic Quarterly<\\\/em><\\\/span>, <em>2<\\\/em>(3), 145-154. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/417\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/417<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Url T<\\\/span>. <span class=\\\"title\\\"><span>The Stability and Growth Pact. Motivation and Costs<\\\/span><\\\/span>. <span>Austrian Economic Quarterly<\\\/span>. 1997 Jul;2(3):145-154.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{03881b8ea6d14b588ff1a61c266a0b0d,<\\\/div><div>  title    = \\\"The Stability and Growth Pact. Motivation and Costs\\\",<\\\/div><div>  abstract = \\\"Under the Stability Pact all member states of the future European Monetary Union commit themselves to achieving balanced budgets in a few years' time. If the agreed threshold for the public sector deficit of 3 percent of GDP is overstepped or the structural deficit continues to be high, the result is direct and indirect costs for EMU member countries. Seen at a European level, Austria's fiscal policy appears sufficiently flexible to ensure that both direct and indirect costs from the Stability Pact can be avoided. Nevertheless, it will be necessary to continue efforts to reduce the structural deficit over the next years.\\\",<\\\/div><div>  keywords = \\\"The Stability and Growth Pact. Motivation and Costs, The Stability and Growth Pact. Motivation and Costs\\\",<\\\/div><div>  author   = \\\"Thomas Url\\\",<\\\/div><div>  year     = \\\"1997\\\",<\\\/div><div>  month    = jul,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"2\\\",<\\\/div><div>  pages    = \\\"145--154\\\",<\\\/div><div>  journal  = \\\"Austrian Economic Quarterly\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - The Stability and Growth Pact. Motivation and Costs<\\\/p><p>AU  - Url, Thomas<\\\/p><p>PY  - 1997\\\/7<\\\/p><p>Y1  - 1997\\\/7<\\\/p><p>N2  - Under the Stability Pact all member states of the future European Monetary Union commit themselves to achieving balanced budgets in a few years' time. If the agreed threshold for the public sector deficit of 3 percent of GDP is overstepped or the structural deficit continues to be high, the result is direct and indirect costs for EMU member countries. Seen at a European level, Austria's fiscal policy appears sufficiently flexible to ensure that both direct and indirect costs from the Stability Pact can be avoided. Nevertheless, it will be necessary to continue efforts to reduce the structural deficit over the next years.<\\\/p><p>AB  - Under the Stability Pact all member states of the future European Monetary Union commit themselves to achieving balanced budgets in a few years' time. 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