1. Introduction Part I "Long-term Sustainability" 2. A Further Inquiry about the Sustainability of Fiscal Policy in the EU 3. Unfunded Obligation Measures for EU Countries Part II "Measurement of the Underlying Budgetary Position and Discretionary Fiscal Policy" 4. Budget Balances Decomposed: Tracking Fiscal Policy in Austria 5. The Dynamic Behaviour of Budget Components and Output - the Cases of France, Germany, Portugal and Spain Part III "Reliability of Fiscal Indicators" 6. The Reliability of EMU Fiscal Indicators: Risks and Safeguards 7. Uncertainty Bounds for Cyclically Adjusted Budget Balances.

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Martin Larch, João Nogueira Martins

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