This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the...

With the spectre of a recession looming in the eurozone (and elsewhere), the policy question arises as to how much leeway do the fiscal authorities in the eurozone have to follow counter-cyclical fiscal policies aimed at providing some stimulus to the economy.

"We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing through factor income and capital gains was close to zero...