The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries, causing a full-fledged fiscal crisis in Greece and severe fiscal pressures in other euro-area countries. This has prompted a series of proposals for improving the fiscal framework...

In this book, experts in international economics analyze the synchronization of business cycles and their volatility. Based on this, they discuss the need and feasibility of internationally coordinating monetary, fiscal, and exchange rate policies