Fiscal Dimensions Of Emu
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Fiscal Dimensions Of Emu
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Author : Paul R. Masson
language : en
Publisher:
Release Date : 1994
Fiscal Dimensions Of Emu written by Paul R. Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
The Stability And Growth Pact
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Author : A. Brunila
language : en
Publisher: Springer
Release Date : 2001-09-20
The Stability And Growth Pact written by A. Brunila and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-09-20 with Business & Economics categories.
The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyse the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation. This book is the definitive source of reference on the SGP for academics, policy makes and economists.
Effects Of The European Economic And Monetary Union Emu On Taxation And Interest Spending Of National Governments
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Author : Mr.Francesco P. Mongelli
language : en
Publisher: International Monetary Fund
Release Date : 1997-07-01
Effects Of The European Economic And Monetary Union Emu On Taxation And Interest Spending Of National Governments written by Mr.Francesco P. Mongelli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-07-01 with Business & Economics categories.
This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that “high-debt” and “high-tax” countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
Emu S Decentralized System Of Fiscal Policy
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Author : Jürgen von Hagen
language : en
Publisher:
Release Date : 2008
Emu S Decentralized System Of Fiscal Policy written by Jürgen von Hagen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Euro categories.
Recoge: 1. Introduction - 2. The fiscal dominance case for the SGP - 3. What do national governments do with their fiscal policies? - 4. Mutual insurance via transfers - 5. Institutional requirements for a transer system - 6. Conclusions reform - 9. Conclusions.
Real Wage Rigidities Fiscal Policy And The Stability Of Emu In The Transition Phase
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Author : Norbert Berthold
language : en
Publisher: International Monetary Fund
Release Date : 1999-06-01
Real Wage Rigidities Fiscal Policy And The Stability Of Emu In The Transition Phase written by Norbert Berthold and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-06-01 with Business & Economics categories.
EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in economic distress due to asymmetric shocks can still happen. A speculative attack as such cannot force a country out of EMU. However, the country concerned might voluntarily decide to leave the system as the costs of staying inside EMU, e.g., due to further rising unemployment, become too large to bear.
Fiscal Policy In Economic And Monetary Union
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Author : Marco Buti
language : en
Publisher: Edward Elgar Publishing
Release Date : 2005-01-01
Fiscal Policy In Economic And Monetary Union written by Marco Buti and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-01 with Business & Economics categories.
The book has many merits, and represents an important contribution to the controversial topic of European fiscal policy. I appreciated in particular the high quality and rigor of the analysis and the fact that the pros and cons of the contending opinions are presented in a fair way. It is a rewarding reading. EAEPE Newsletter Buti and Franco present a series of interesting analytical information which should be read by as broad an audience as possible. . . the book is a good buy. László Csaba, Acta Oeconomica This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature. The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU s institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU s budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul. The book s basic premise is that one cannot fully understand EMU s fiscal framework and the recent debate on its reform without placing them in a historical and institutional perspective and abstracting from the uniqueness of EMU, where sovereign countries retain a large degree of fiscal independence, and monetary policy is entrusted to an independent central bank with the overriding mission of maintaining price stability. Analysing all aspects of EMU s fiscal rules and institutions, this book will strongly appeal to students, academics and researchers of macroeconomic policy and European integration. Policymakers and fiscal policy experts at both national and international levels will also find the book to be of great interest.
Fiscal Federalism And European Economic Integration
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Author : Mark Baimbridge
language : en
Publisher: Routledge
Release Date : 2005-06-28
Fiscal Federalism And European Economic Integration written by Mark Baimbridge and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-06-28 with Business & Economics categories.
The pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
The Effects Of The European Economic And Monetary Union Emu On National Fiscal Sustainability
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Author : Mr.Francesco P. Mongelli
language : en
Publisher: International Monetary Fund
Release Date : 1996-07-01
The Effects Of The European Economic And Monetary Union Emu On National Fiscal Sustainability written by Mr.Francesco P. Mongelli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-07-01 with Business & Economics categories.
This paper presents a methodology to analyze the responsiveness of fiscal sustainability to the “endogenous fiscal discipline” that will be strengthened by the EMU. This discipline arises in response to the harmonization of tax systems, the loss of control of current and prospective money financing, and the deepening of financial market-based discipline. The model used in this paper is a generalization of Blanchard’s (1984) model, in which the interest rate is determined endogenously. This provides the framework to analyze more features of the linkage between sustainability and endogenous fiscal discipline. This paper also presents a new intratemporal fiscal sustainability index.
Emu S Decentralized System Of Fiscal Policy
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Author : Jürgen von Hagen
language : en
Publisher:
Release Date : 2006
Emu S Decentralized System Of Fiscal Policy written by Jürgen von Hagen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
The Design Of Emu
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Author : Mr.David K. H. Begg
language : en
Publisher: International Monetary Fund
Release Date : 1997-08-01
The Design Of Emu written by Mr.David K. H. Begg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-08-01 with Business & Economics categories.
Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implications for accountability, transparency, and reputation. Country-specific shocks will remain but output correlation may not reflect the old pattern of core and peripheral countries. The Stability Pact will force some countries to switch off their automatic stabilizers; others, with fewer fiscal problems, can retain them. Output correlations in EMU may reflect a fiscal core and fiscal periphery. Additional labor market flexibility remains the best solution.