References
- Afonso, A., & Jalles, J. (2013). Do fiscal rules matter for growth? Applied Economics Letters, 20(1), 34–40. https://doi.org/https://doi.org/10.1080/13504851.2012.674198
- Al-Kadi, R., & Clauwaert, S. (2019). Socialising the European semester? Measuring member states’ implementation of country-specific recommendations in the social policy field. ETUI Research Paper –Working Paper, 1–26. https://doi.org/http://doi.org/10.2139/ssrn.3402886.
- Alesina, A. (2000). The political economy of the budget surplus in the United States. Journal of Economic Perspectives, 14(3), 3–19. https://scholar.harvard.edu/files/alesina/files/the_political_economy_of_the_budget_surplus_in_the_us.pdf. https://doi.org/https://doi.org/10.1257/jep.14.3.3
- Andersen, T., & Sørensen, J. (1995). Unemployment and fiscal policy in an economic and monetary union. European Journal of Political Economy, 11(1), 27–43. https://doi.org/https://doi.org/10.1016/0176-2680(94)00054-N
- Angelopoulos, K., & Philippopoulos, A. (2007). The growth effects of fiscal policy in Greece 1960–2000. Public Choice, 131(1-2), 157–175. https://doi.org/https://doi.org/10.1007/s11127-006-9111-3
- Antonakakis, N., & Vergos, K. (2013). Sovereign bond yield spillovers in the euro zone during the financial and debt crisis. Journal of International Financial Markets, Institutions and Money, 258–272. https://doi.org/https://doi.org/10.1016/j.intfin.2013.06.004
- Arghyrou, M. (2017). Structural reforms in the euro area: A Greek view. European View, 16(1), 45–56. https://doi.org/https://doi.org/10.1007/s12290-017-0433-y
- Arnull, A., & Chalmers, D. (2015). The Oxford Handbook of European Union Law (1st ed.). Oxford University Press.
- Balassone, F., Francese, M., & Pace, A. (2011). Public debt and economic growth in Italy. Bank of Italy Economic History.
- Beetsma, R., & Larch, M. (2019). EU fiscal rules: Further reform or better implementation? The Amsterdam Centre for European Studies. Amsterdam Centre for European Studies Research Paper 2019/02. Available at SSRN: https://ssrn.com/abstract=3406750
- Beetsma, R., Thygesen, N., Cugnasca, A., Orseau, E., Eliofotou, P., & Santacroce, S. (2018). Reforming the EU fiscal framework: A proposal by the European Fiscal Board. Euro Area Reform. https://voxeu.org/article/reforming-eu-fiscal-framework-proposal-european-fiscal-board
- Bibow, J. (2017). How Germany’s anti-Keynesianism has brought Europe to its knees. Levy Economics Institute. http://www.levyinstitute.org/pubs/wp_886.pdf
- Bluedorn, J., & Leigh, D. (2010). Revisiting the twin deficits hypothesis: The effect of fiscal consolidation on the current account. IMF. https://www.imf.org/external/np/seminars/eng/2010/eui/pdf/BL.pdf.
- Bökemeier, B., & Greiner, A. (2013). On the relation between public debt and economic growth: An empirical investigation. Bielefeld Working Papers in Economics and Management No. 24-2013.
- Bressanelli, E., & Chelotti, N. (2018). The European Parliament and economic governance: Explaining a case of limited influence. The Journal of Legislative Studies, 24(1), 72–89. https://doi.org/https://doi.org/10.1080/13572334.2018.1444627
- Brissimis, S., Hondroyiannis, G., Papazoglou, C., Tsaveas, N., & Melina, V. (2010). Current account determinants and external sustainability in periods of structural change. Bank of Greece.
- Cabral, R., & Díaz, R. (2015). Is fiscal policy coordination desirable for a monetary union? An assessment from the perspective of a small open economy. Investigación Económica, 294(74), 3–72. https://doi.org/https://doi.org/10.1016/j.inveco.2015.11.001
- Calderón, C., & Fuentes, R. (2013). Government debt and economic growth. Felipe Herrera Library: Inter-American Development Bank.
- Calmfors, L. (2010). The role of independent fiscal policy institutions. Swedish Fiscal Policy Council.
- Calmfors, L., & Wren-Lewis, S. (2011). What should fiscal councils do? OECD. https://www.oecd.org/gov/budgeting/47741710.pdf
- Caruso, A., Reichlin, L., & Ricco, G. (2019). Financial and fiscal interaction in the euro area crisis: This time was different. European Economic Review, 119, 333–355. https://doi.org/https://doi.org/10.1016/j.euroecorev.2019.08.002
- Castro, V. (2011). The impact of the European Union fiscal rules on economic growth. Journal of Macroeconomics, 33(2), 313–326. https://doi.org/https://doi.org/10.1016/j.jmacro.2010.09.003
- Christodoulakis, N. (2010). Crisis, threats and ways out for the Greek economy. Cyprus Economic Policy Review, 4(1), 89–96.
- Christofzik, D., Feld, L., Reuter, W., & Yeter, M. (2018). Uniting European fiscal rules: How to strengthen the fiscal framework. German Council of Economic Experts. https://www.sachverstaendigenratwirtschaft.de/fileadmin/dateiablage/download/publikationen/Arbeitspapier_04_2018.pdf
- Corsetti, G., & Müller, G. (2006). Twin deficits: Squaring theory, evidence and common sense. Economic Policy, 21(48), 598–638. https://doi.org/https://doi.org/10.1111/j.1468-0327.2006.00167.x
- Creel, J., & Saraceno, F. (2010). European fiscal rules after the crisis. Journal of Innovation Economics & Management, 6(2), 95–122. https://doi.org/https://doi.org/10.3917/jie.006.0095
- Cœuré, B. (2016). The importance of independent fiscal councils. ECB. https://www.ecb.europa.eu/press/key/date/2016/html/sp160127.en.html
- De Grauwe, P. (2018). Economics of monetary union (12th ed.). Oxford University Press.
- De Grauwe, P., Ji, Y., & Steinbach, A. (2016). The EU debt crisis: Testing and revisiting conventional legal Doctrine. LSE. https://doi.org/https://doi.org/10.2139/ssrn.2763819
- Dogaru, T., & Dumitrescu, A. (2015). Medium-Term budgetary framework in the EU member states: Study case. World Congress of Administrative and Political Sciences. Rome. https://doi.org/https://doi.org/10.2139/ssrn.3401436.
- Dombi, Á, & Dedák, I. (2019). Public debt and economic growth: What do neoclassical growth models teach us? Applied Economics, 51(29), 3104–3121. https://doi.org/https://doi.org/10.1080/00036846.2018.1508869
- ECB. (2012). Monthly bulletin – main elements of the fiscal compact. https://www.ecb.europa.eu/pub/pdf/other/mb201203_focus12.en.pdf
- Eichengreen, B., & Temin, P. (2010). Fetters of gold and paper. Oxford Review of Economic Policy, 26(3), 370–384. https://doi.org/https://doi.org/10.3386/w16202
- Encinas-Ferrer, C. (2014). Currency areas: Public debt, inflation and unemployment. Open Journal of Applied Sciences, 4(4). https://doi.org/https://doi.org/10.4236/ojapps.2014.44021
- Engen, E., & Skinner, J. (1992). Fiscal policy and economic growth. National Bureau of Economic Research. https://www.nber.org/papers/w4223
- European Commission. (2018). Compliance report ESM stability support programme for Greece. https://www.consilium.europa.eu/media/36299/compliance_report_4r_2018-06-20-docx.pdf
- European Commission. (2019). Enhanced surveillance report. https://ec.europa.eu/info/sites/info/files/economyfinance/ip103_en.pdf
- European Parliament. (2018). Greece’s financial assistance programme – June 2018. http://www.europarl.europa.eu/RegData/etudes/IDAN/2018/624415/IPOL_IDA(2018)624415_EN.pdf
- Fabbrini, F. (2013). The fiscal compact, the ‘golden rule’ and the paradox of European federalism. Boston College International and Comparative Law Review, 36, 1–38. https://doi.org/https://doi.org/10.2139/ssrn.2096227
- Falkner, G. (2018). EU policies in times of crisis (1st ed.). Routledge.
- Featherstone, K., Dinan, D., Nugent, N., Paterson, W., & Papadimitriou, D. (2017). Greece: A crisis in two-level governance. In D. Dinan, N. Nugent, & W. E. Paterson (eds.), The European Union in crisis (pp. 233–252). Macmillan Education. https://doi.org/https://doi.org/10.1057/978-1-137-60427-9_12
- Feldstein, M. (2005). The euro and the stability pact. Journal of Policy Modeling, 27(4), 421–426. https://doi.org/https://doi.org/10.1016/j.jpolmod.2005.04.007
- Fernandez, V., Morianna, A., Vida, A., & De Lombaerde, P. (2017). The European Commission single market scoreboard. Indicator-Based Monitoring of Regional Economic Integration, 13, 3–26. https://doi.org/https://doi.org/10.1007/978-3-319-50860-3_1
- Fischer-Lescano, A. (2012). The European TSCG and EU law. Centre of European Law and Politics. www.juergenklute.eu/kontext/controllers/document.php/118.1/d/7502.pdf
- Frankel, J. (2015). The euro crisis: Where to from here? Journal of Policy Modeling, 37(3), 428–444. https://doi.org/https://doi.org/10.1016/j.jpolmod.2015.03.006
- Frankel, J., & Schreger, J. (2013). Over-optimistic official forecasts and fiscal rules in the eurozone. Review of World Economics, 149(2), 247–272. https://doi.org/https://doi.org/10.1007/s10290-013-0150-9
- Gechert, S., & Rannenberg, A. (2015). The costs of Greece's fiscal consolidation. Vierteljahrshefte zur Wirtschaftsforschu, 84(3), 47–59. https://doi.org/https://doi.org/10.3790/vjh.84.3.47
- Gemmell, N., & Au, J. (2011, October 13 and 14). Government size, fiscal policy and the level and growth of output: A review of recent evidence. First Annual Workshop on Economic and Policy Developments in East Asia, Gold Coast. https://www.wgtn.ac.nz/sacl/centres-and-institutes/cpf/research/pdfs-research/2GemmellAuBondUniPAPER.pdf
- Gómez-Puig, M., & Sosvilla-Rivero, S. (2017). Public debt and economic growth: Further evidence for the euro area. Institut de Recerca en Economia Aplicada Regional i Pública. http://www.ub.edu/irea/working_papers/2017/201715.pdf
- Haas, J., D’Erman, V., Schulz, D., & Verdun, A. (2020). Economic and fiscal policy coordination after the crisis: Is the European semester promoting more or less state intervention? Journal of European Integration, 42(3), 327–344. https://doi.org/https://doi.org/10.1080/07036337.2020.1730356
- Hallerberg, M., Strauch, R., & Hagen, J. (2010). Fiscal federalism reforms in the European Union and the Greek crisis. European Union Politics, 12(1), 127–142. https://doi.org/https://doi.org/10.1177/1465116510387652
- Handler, H. (2013). The eurozone: Piecemeal approach to an optimum currency area. SSRN Electronic Journal, https://doi.org/https://doi.org/10.2139/ssrn.2333102
- Heather, G., Theodore, P., & George, T. (2013). The crisis in the euro area: An analytic overview. Bank of Greece. https://www.bankofgreece.gr/Publications/SCP201328.pdf
- IMF. (2015). Preliminary draft debt sustainability analysis. IMF. https://www.imf.org/external/pubs/ft/scr/2015/cr15165.pdf
- IMF. (2016). Preliminary debt sustainability analysis – updated Estimates and further considerations. IMF. https://www.imf.org/external/pubs/ft/scr/2016/cr16130.pdf
- IMF. (2018). Greece: 2018 Article IV consultation and proposal for post-program monitoring-press release; Staff report; and Statement by the Executive Director for Greece. https://www.imf.org/en/Publications/CR/Issues/2018/07/31/Greece-2018-Article-IV-Consultation-and-Proposal-for-Post-Program-Monitoring-Press-Release-46138
- Ioannides, Y., & Pissarides, C. (2015). Is the Greek crisis one of supply or demand? Brookings Papers on Economic Activity, 349–373. https://www.brookings.edu/wpcontent/uploads/2015/09/IoannidesTextFall15BPEA.pdf
- István, B. (2016). The fiscal compact and the EU’s crisis management. Studies in International Economics, 2(1), 63–88.
- Jager, J., & Hafner, K. (2013). The optimum currency area theory and the EMU. Intereconomics, 48(5), 315–322. https://archive.intereconomics.eu/year/2013/5/the-optimum-currency-area-theory-and-the-emu/. https://doi.org/https://doi.org/10.1007/s10272-013-0474-7
- Juncker, J.-C., Tusk, D., Dijsselbloem, J., Draghi, M., & Schulz, M. (2015). The Five Presidents’ report. Brussles: EU. https://ec.europa.eu/commission/sites/beta-political/files/5-presidents-report_en.pdf.
- Kanoun, S. (2018, 8–10 July). Delayed fiscal adjustment and national competitiveness: Transmission channels and empirical Evidence. ERF 24th Annual Conference. Cairo. https://erf.org.eg/wp-content/uploads/2018/02/Salem-Kanoun.pdf
- Kaplanoglou, G., & Rapanos, V. T. (2011). The Greek fiscal crisis and the role of fiscal governance. LSE. http://www.lse.ac.uk/europeanInstitute/research/hellenicObservatory/pdf/GreeSE/GreeSE48.pdf.
- Kasselaki, M., & Tagkalakis, A. (2016). Fiscal policy and private investment in Greece. International Economics, 147, 53–106. https://doi.org/https://doi.org/10.1016/j.inteco.2016.03.003
- Kearney, C., & Monadjemi, M. (1990). Fiscal policy and current account performance: International evidence on the twin deficits. Journal of Macroeconomics, 12(2), 197–219. https://doi.org/https://doi.org/10.1016/0164-0704(90)90029-A
- KEPE. (2019). Greek economic outlook. https://www.kepe.gr/images/oikonomikes_ekselikseis/issue-39-en/full-issue_en.pdf
- Kneller, R., & Mc Gowan, D. (2011). Entrepreneurship dynamics, market size and fiscal policy. Bangor Business School. https://pdfs.semanticscholar.org/1621/e91f4aaff86f33eb4deed0eb264139b43369.pdf
- Kopits, G. (2011). Independent fiscal institutions: Developing good practices. Journal on Budgeting, 11(3), https://doi.org/https://doi.org/10.1787/budget-11-5kg3pdgcpn42
- Kopits, G., & Symansky, S. (1998). Fiscal policy rules. IMF.
- Liargovas, P., & Psychalis, M. (2019). Do economic adjustment programmes set conflicting objectives? The case of Greece. Theoretical Economics Letters, 9(8), 3065–3087. https://doi.org/https://doi.org/10.4236/tel.2019.98188
- Maatsch, A. (2017). Effectiveness of the European semester: Explaining domestic consent and contestation – MPIfG Discussion Paper 17/6. Max Planck Institute for the Study of Societies.
- Maris, G. (2020). National sovereignty, European integration and domination in the eurozone. European Review, 28(2), 225–237. https://doi.org/https://doi.org/10.1017/S1062798719000437
- Maris, G., & Sklias, P. (2012). European integration and asymmetric power: Dynamics and change in the EMU. European Politics and Society. https://doi.org/https://doi.org/10.1080/23745118.2019.1710998
- Maris, G., & Sklias, P. (2016). France, Germany and the new framework for EMU governance. Journal of Contemporary European Studies, 24(1), 1–23. https://doi.org/https://doi.org/10.1080/14782804.2015.1056113
- Monokroussos, P. (2015). The macroeconomic costs of fiscal adjustment in Greece. Eurobank Research.
- Monokroussos, P., & Thomakos, D. (2012). Can Greece be saved? Current account, fiscal imbalances and competitiveness. Hellenic Observatory of LSE. http://eprints.lse.ac.uk/43915/1/GreeSE%20No59.pdf
- Mortensen, J. (2013). Economic policy coordination in the economic and monetary union from Maastricht via the SGP to the fiscal pact. CEPS. https://www.ceps.eu/wp-content/uploads/2013/08/WD381%20JM%20Economic%20Policy%20Coordination.pdf
- Mundell, R. A. (1961). A theory of optimum currency areas. The American Economic Review, 657–665.
- Nahtigal, M., & Bugaric, B. (2012). The EU fiscal compact: Constitutionalization of austerity and preemption of democracy in Europe. SSRN Electronic Journal, 1–29. https://doi.org/https://doi.org/10.2139/ssrn.2194475
- Nikiforos, M., Carvalho, L., & Christian, S. (2015). Twin deficits in Greece: In search of causality. Journal of Post Keynesian Economics, 38(2), 302–330. https://doi.org/https://doi.org/10.1080/01603477.2015.1065675
- Nikiforos, M., Papadimitriou, D., & Zezza, G. (2015). The Greek public debt problem. Levy Economics Institute of Bard College. http://www.levyinstitute.org/pubs/pn_15_2.pdf
- Ono, T. (2019). Fiscal rules in a monetary economy: Implications for growth and welfare. Public Economic Theory, 22(1), 190–219. https://doi.org/https://doi.org/10.1111/jpet.12389
- Papadamou, S., & Tzivinikos, T. (2017). The macroeconomic effects of fiscal consolidation policies in Greece. Journal of Financial Economic Policy, 9(1), 34–49. https://doi.org/https://doi.org/10.1108/JFEP-07-2016-0051
- Papadimos, L. (2011). The Sovereign debt crisis, financial stability and fiscal policy in the euro area. Ekonomia, 14(2), 108–118. http://www.ekonomia.ucy.ac.cy/RePEc/ekn/ekonom/papers/01-11W.pdf
- Petroulakis, F. (2017). Internal devaluation in currency unions: The role of trade costs and taxes. ECB. https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2049.en.pdf
- Prammer, D., & Reiss, L. (2016). The stability and growth Pact since 2011: More complex – but also stricter and less procyclical? Monetary Policy & the Economy, https://www.oenb.at/dam/jcr:6bff50af-6c2f-4045-a37f-f5fc2986ea8d/mop_2016_q1_analyses03.pdf
- Raju, S., & Mukherjee, J. (2010). Fiscal deficit, Crowding out and the sustainability of economic growth. The case of the Indian economy. Center for Asian Studies. https://www.ifri.org/sites/default/files/atoms/files/asievisions31rajumukherjee.pdf
- Reinhart, C., & Rogoff, K. (2011). Growth in a time of debt. NBER. https://www.nber.org/papers/w15639.pdf
- Reuter, W., Tkačevs, O., & Vilerts, K. (2018). On the design of stabilising fiscal rules. German Council of Economic Experts. https://www.sachverstaendigenratwirtschaft.de/fileadmin/dateiablage/Arbeitspapiere/Arbeitspapier_11_2018.pdf
- Robinson, M. (2005). Measuring compliance with the golden rule. Fiscal Studies, 19(4), 447–462. https://doi.org/https://doi.org/10.1111/j.1475-5890.1998.tb00295.x
- Sankot, O. (2015). Stability and growth pact as a part of fiscal regulation in the EU. Technical University Ostrava. https://www.ekf.vsb.cz/export/sites/ekf/hpveu/.content/galeriedokumentu/2015-proceedings/51_Sankot.pdf
- Schumacher, J., & Mauro, B. (2015). Greek debt sustainability and official crisis lending. Brookings Papers on Economic Activity, 279–305. https://www.brookings.edu/wpcontent/uploads/2016/06/SchumacherTextFall15BPEA.pdf
- Shahid, A., Naved, A., & Mahmood, K. (2010). The effects of fiscal policy on economic growth: Empirical evidences based on time series data from Pakistan. The Pakistan Development Review, 49(4), 497–512.
- Sherwood, M. (2015). Medium-term budgetary frameworks in the EU member states. European Commission. https://doi.org/https://doi.org/10.2765/905635
- Sklias, P., & Maris, G. (2013). The political dimension of the Greek financial crisis. Perspectives on European Politics and Society, 14(1), 144–164. https://doi.org/https://doi.org/10.1080/15705854.2012.732392
- Socol, C., Marinas, M., & Soco, A. (2018). Fiscal adjustment programs versus socially. Sustainability, 10(10), 3390. https://doi.org/https://doi.org/10.3390/su10103390
- Soukiazis, E., Antunes, M., & Kostakis, I. (2018). The Greek economy under the twin-deficit pressure: A demand orientated growth approach. International Review of Applied Economics, 32(2), 215–236. https://doi.org/https://doi.org/10.1080/02692171.2017.1338678
- Stournaras, C. (2013). Twin deficits in Greece: Theory and evidence from the last drachma journey. ssrn. https://doi.org/https://doi.org/10.2139/ssrn.2205047
- Tagkalakis, A. (2013). Discretionary fiscal policy and economic activity in Greece. Bank of Greece. https://www.bankofgreece.gr/Publications/Paper2013169.pdf
- Tita, C., Oţetea, A., & Banu, I. (2014). The importance of a medium-term budgetary framework in enhancing the sustainability of public finances in Romania. Procedia Economics and Finance, 16, 270–274. https://doi.org/https://doi.org/10.1016/S2212-5671(14)00800-4
- Tung, L. (2018). The effect of fiscal deficit on economic growth in an emerging economy: Evidence from Vietnam. Journal of International Studies, 11(3), 191–203. https://doi.org/https://doi.org/10.14254/2071-8330.2018/11-3/16
- Varotsis, N., & Katerelos, I. (2020). Tax behaviour relating to the review of a revised regional tax policy: A study in Greece. Economic Structures, 9(7). https://doi.org/https://doi.org/10.1186/s40008-020-0181-z
- Verdun, A., & Zeitlin, J. (2017). Introduction: The European semester as a new architecture of EU socioeconomic governance in theory and practice. Journal of European Public Policy, 25(2), 137–148. https://doi.org/https://doi.org/10.1080/13501763.2017.1363807
- Viney, C., & Pool, T. (2018). Independent fiscal institutions in comparative constitutional Perspective. London School of Economics and Political Science. http://eprints.lse.ac.uk/89548/1/Poole%20SSRN-id3203960.pdf
- Wyplosz, C. (2006). European monetary union: The dark sides of a major success. Economic Policy, 21(46), 208–261. https://doi.org/https://doi.org/10.1111/j.1468-0327.2006.00158.x
- Zettelmeyer, J., Trebesch, C., & Gulati, M. (2013). The Greek debt restructuring: An autopsy. Economic Policy, 28(75), 513–563. https://doi.org/https://doi.org/10.1111/1468-0327.12014