Business Cycles and Macroeconomic Stability: Should We Rebuild Built-in Stabilizers?

Introduction; J.-O. Hairault, et al. Part I: Fiscal Policies, Business Cycle and Growth. 1. An Exploration Into the Effects of Dynamic Economic Stabilization; J. Dolmas, G.W. Huffman. 2. Optimal Public Spending in a Business Cycle Model; S. Ambler, E. Cardia. 3. Welfare, Stabilization or Growth: A Comparison of Different Fiscal Objectives; S.P. Cassou, K.J. Lansing. 4. Public Investment, Stabilization and Growth; F. Collard. Part II: Automatic Stabilizers in an Economic Union. 5. Monetary Union and the Role of Automatic Stabilizers; K.M. Kletzer, W.H. Buiter. 6. The Efficiency of National and Regional Stabilization Policies; T. Bayoumi, P.R. Masson. 7. Insurance Against Asymmetric Shocks in a European Monetary Union; J. von Hagen, G.W. Hammond. 8. Automatic Stabilizers in a European Perspective; F. Bec, J.-O. Hairault. Part III: Stabilization and Labour Market Policies. 9. The Cyclical Effects of Labour Market Policy; S.P. Millard. 10. Financing Unemployment Benefits in the Business Cycle: Stabilization, Welfare and Equity Issues; J.-O. Hairault, et al. Part IV: Empirical Evidence, Recent Trends and Problems on Stabilization. 11. Are Automatic Stabilizers Still Effective? The French Case in the Nineties; J.-P. Cotis, et al. 12. Output Stabilization Versus Deficit Sustainability: Is It a Trade- Off? B. Candelon, P.-Y. Hénin. 13. The Effects of Fiscal Policy and The Maastricht Solvency Criteria on European Employment; R. Barrell, et al. 14.Macroeconomic Effects of Fiscal Restructuring in Europe; A.H. Bayer, et al. Index.