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The EU Budget Dispute - A Blessing in Disguise?

Schneider, Ondrej - 2007

This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget … that the current EU budget setting is, at best, neutral with respect to the EU-wide long-term growth potential and may … actually hamper growth in the majority of the EU countries if the distortionary nature of taxation is taken into account …

Persistent link: https://www.econbiz.de/10012776902

Fiscal Federlism in a Monetary Union : The Cooperation Pitfall

Kempf, Hubert - 2018

Fiscal federalism may not be a panacea in a monetary union if it does not address the non-cooperative behaviour between fiscal policymakers. To prove this, we assess the relative merits of a fiscal federalism scheme in a monetary union and intergovernmental fiscal cooperation without such a...

Persistent link: https://www.econbiz.de/10012930695

Labor Mobility and Fiscal Policy in a Currency Union

Baglioni, Angelo S. - 2015

Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from...

Persistent link: https://www.econbiz.de/10013029495

Euro-Area Fiscal Stance : From Theory to Practical Implementation

Bénassy-Quéré, Agnès - 2016

Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only...

Persistent link: https://www.econbiz.de/10012982261

Fiscal Rules, Financial Stability and Optimal Currency Areas

De Grauwe, Paul - 2015

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...

Persistent link: https://www.econbiz.de/10013020581

Revenue for EMU : A Contribution to the Debate on Fiscal Union

Iara, Anna - 2016

In the wake of the euro area crisis, the debate on instruments to deepen economic integration among its members has intensified, among others putting forward a fiscal stabilization capacity for EMU members. Contributions made so far to further this idea have mostly concentrated on the...

Persistent link: https://www.econbiz.de/10012994790

Reconciling Insurance with Market Discipline : A Blueprint for a European Fiscal Union

Dolls, Mathias - 2016

This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...

Persistent link: https://www.econbiz.de/10012996428

The ECB's Fiscal Policy

Sinn, Hans‐Werner - 2018

While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and moved into fiscal territory. This text describes and summarises the crucial role played by the ECB in the intervention spiral resulting from its bid to manage the crisis. It also...

Persistent link: https://www.econbiz.de/10012916355

Fiscal Rules and Government Size in the European Union

Mierau, Jochen O.; Andreu, Eduard Suari - 2021

This paper studies the impact of national fiscal rules on government size as measured by the ratio of government expenditures to gross domestic product. We develop a model of the budgetary process and show that a common pool problem may arise which can be mitigated through fiscal rules. We test...

Persistent link: https://www.econbiz.de/10013315620

Can We Rely Upon Fiscal Policy Estimates in Countries with Unreported Production of 15 Per Cent (or More) of GDP?

Basile, Raffaella - 2011

This paper analyzes the effects of fiscal policy in Italy by employing a database containing two statistical novelties: quarterly fiscal variables on accrual basis and a time series estimate of tax evasion for the period 1981:1-2006:4. Following Revenue Agency suggestions, we use in a VECM the...

Persistent link: https://www.econbiz.de/10013122250