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The delegation of monetary policy to a supranational central bank creates a conflict of interest between residents of different countries. For example, the country in recession may favor more inflation to boost output, while the country in boom prefers exactly the opposite. This conflict gives...
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Romania, along with many other countries in the European Union, faces daunting fiscal challenges. Fiscal balances … deteriorated sharply following the global economic crisis, forcing Romania to implement a fiscal consolidation that was one of the …. Because of widespread tax evasion, the tax system in Romania is one of the least efficient in the European Union. Tax reforms …
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This paper proposes a simple method to assess the sustainability of public finances in Romania, which uses the twin … deficits concept. We conclude that the sustainability of the country has been seriously affected by the recent crisis, but to a …
Persistent link: https://www.econbiz.de/10013135485
Romania, along with many other countries in the European Union, faces daunting fiscal challenges. Fiscal balances … deteriorated sharply following the global economic crisis, forcing Romania to implement a fiscal consolidation that was one of the …. Because of widespread tax evasion, the tax system in Romania is one of the least efficient in the European Union. Tax reforms …
Persistent link: https://www.econbiz.de/10012975527