study the economic effects of introducing two elements of a fiscal union: Firstly, an EU-wide tax and transfer system and … secondly, an EU-wide system of fiscal equalisation. Using the European tax-benefit calculator EUROMOD, we exploit … tax and transfer systems by a European system would lead to significant redistributive effects both within and across …

We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have …-factual simulation. Discretionary fiscal policy supported the effects of automatic stabilizers in the years 2008 and 2009 but then became … much more restrictive. For the Euro zone as a whole, the share of income shocks absorbed by the tax and transfer system …

stabilizing effects of two scenarios of fiscal integration in the Eurozone, namely the introduction of i) a joint tax and transfer … differences in taxing capacity. Based on the European tax-benefit calculator EUROMOD and representative household micro data for … the current 17 euro area member states, our conceptual experiment shows that a joint tax and transfer system would only …