Abstract
The signing at Maastricht on 7 February 1992 of the Treaty on European Union (hereafter the Treaty) has brought back into focus the importance of fiscal policy as a means of achieving the convergence conditions necessary for successful achievement of the Treaty’s objectives. Two sets of factors will determine the success or failure of fiscal policy post-Maastricht: (i) the seriousness of the commitment of the governments of the member states to the implementation of the fiscal policies necessary to achieve the objectives of the Treaty; and, (ii) the robustness of the theoretical reference model used to analyse the relationships between the convergence targets and the fiscal variables (Roberti and Visaggio 1994).
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Mair, D., Laramie, A.J. (1997). The Macroeconomic Effects of Taxation in a Federal Europe. In: Arestis, P., Sawyer, M. (eds) The Relevance of Keynesian Economic Policies Today. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25425-5_1
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