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Among the many meanings given to the idea of a European ‘constitution’, perhaps the most widespread relates to the … power the EU obviously lacks on its own. We can call this the ‘metabolic constitution’ of the EU, a term meant to focus our … attention on the capacity of a polity to convert resources into work toward public ends. The EU’s metabolic constitution is …
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In a monetary union, fiscal transfers are an important policy tool to adjust to asymmetric shocks. However, fiscal transfers cannot substitute structural reforms especially when shocks are permanent. In this way, the design of fiscal transfer systems determine whether structural reforms or...
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We investigate the effect of electoral rules and political regimes on fiscal policy outcomes in a panel of 61 democracies from 1960 and onwards. In presidential regimes, the size of government is smaller and less responsive to income shocks, compared to parliamentary regimes. Under majoritarian...
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