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It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the cincumstances under which...
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This paper proposes a central fiscal capacity for the euro area that generates transfers in response to euro area, country, and region-specific shocks. The main novelty of this fiscal capacity is that it allows a joint response to these three types of shocks within a single scheme. Based on...
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resources to deliver on the green and digital transition will be among the priorities confronting the EU institutions emerging … from the June 2024 European elections. After a long and painful debate, EU institutions have agreed upon a new fiscal …, the additional public investment is unlikely to suffice to comply with the goals of net zero that the EU has set for …
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EU economic policies need to be fundamentally reoriented to deliver European public good (EPGs) in economic and non … established as a follow up of Next Generation EU, access to which would be conditional on adhering to the revised fiscal rulebook …. A systematic review of the various existing instruments at the EU level to stimulate investments should be carried out …
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