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Using a refined version of the multi-country AB-SFC model of a Monetary Union already presented in Caiani et al. (2018a, 2019) the paper aims at providing a tentative assessment of the economic effects of transforming the European Monetary Union into an Intergovernmental Fiscal Transfer Union...
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intensified, among others putting forward a fiscal stabilization capacity for EMU members. Contributions made so far to further …
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intensified, among others putting forward a fiscal stabilization capacity for Economic and Monetary Union (EMU) members …. Contributions made so far to further this idea have mostly concentrated on the expenditure side and possible stabilization …
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Fiscal federalism may not be a panacea in a monetary union if it does not address the non-cooperative behaviour between fiscal policymakers. To prove this, we assess the relative merits of a fiscal federalism scheme in a monetary union and intergovernmental fiscal cooperation without such a...
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