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This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto...
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coordination. The major economies of the EU and the US rapidly agreed on a series of measures to limit the crisis. However, the … supplyside optimism in the US ; (d) institutional factors such as the lack of a central fiscal authority in the EU. In response …
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This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...
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