ON THE INSURANCE FUNCTION OF FISCAL POLICY IN A MONETARY UNION

In this paper we first review the available literature on the degree of insurance against shocks, provided by the central budget in the federal systems already existing. Next, we discuss the main points raised on the debate about the implementation of an automatic mechanism designed to cope with country-specific shocks in a monetary union, and present a specific proposal of such a mechanism.

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Year of publication:	2000
Authors:	Rubio, Óscar Bajo ; Roldán, Carmen Díaz
Institutions:	Departamento de Economía - Universidad Pública de Navarra
Subject:	Monetary union \| fiscal federalism \| insurance function

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Extent:	application/pdf
Series:	Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in The text is part of a series Documentos de trabajo - Lan Gaiak, Departamento de Economía, UPNA Number 0012 17 pages
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005688662