This paper provides an overview of the key steps that were made in the European Union toward enhancing fiscal policy coordination and integration prior to the Covid-19 crisis. It especially highlights the key challenges and strategies that should be considered when thinking of further fiscal...

Based on a dynamic open-economy macroeconomic model, this paper aims at understanding the contribution of domestic financial under-development to foreign reserve accumulation in some emerging market economies, especially in China. It is argued that foreign reserve accumulation is a consequence...