The aim of this paper is to investigate how the birth of a central fiscal authority or the creation of a fiscal transfer mechanism could improve the action of fiscal policy in terms of stabilization in the EMU. In particular, the paper examines the theoretical reasons to support this conclusion...

The low-carbon transition, for example in line with the European Commission’s proposed Long-Term Strategy1 net-zero2 target by 2050 or the Commission President-elect ‘climate neutrality’ objective, will require a very large increase in electricity, especially for low-carbon solutions in...