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A general feature of national fiscal systems is that they provide buffers against regional fluctuations in output and employment by redistributing income between the different regions of a country. Recent literature in connection with European monetary integration has stressed the insurance...
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Contents: 1. Jürgen von Hagen, Jean Pisani-Ferry - Forum Economique Franco-Allemand /Deutsch-Französisches Wirtschaftspolitisches Forum .... 1 -- 2. Jürgen von Hagen - The First Year of EMU ... 3 -- 3. Dominique Guellec - Economic Growth in Europe: Entering a New Era? ... 17 -- 4. Jean-Louis...
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