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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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This paper addresses arguments that a system of fiscal insurance between member states of the European Union is needed to act in replacement of nominal exchange rate flexibility as an automatic stabilizer under monetary union. Many authors have argued or assumed that asymmetric real...
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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 …
Persistent link: https://www.econbiz.de/10011576620