Chapter 4: US Precedents for Europe
This chapter investigates two of the most widely debated aspects of US fiscal and financial integration: (1) the responsibility of the federation for state-level debts and for the creditworthiness of states; and (2) the working of a federal central bank. Today’s fiscal federalism in the United States is relatively robust, but the road from 1790 was rocky; and the first two decades of the Federal Reserve as rife with monetary mistakes as the first fifteen years of the European Central Bank.
Year of publication: |
2013
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Authors: | Bertola, Giuseppe ; Driffill, John ; James, Harold ; Sinn, Hans-Werner ; Sturm, Jan-Egbert ; Valentinyi, Ákos |
Published in: |
EEAG Report on the European Economy. - CESifo. - 2013, 02, p. 95-107
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Publisher: |
CESifo |
Saved in:
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