Fiscal Transfers And Economic Convergence
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Fiscal Transfers And Economic Convergence
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Author :
language : en
Publisher:
Release Date : 2020
Fiscal Transfers And Economic Convergence written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Before the outbreak of the coronavirus (COVID-19) pandemic, discussions were already taking place on how to complete Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of the current unprecedented crisis on the euro area economy has given the debate new impetus. As a contribution to this topic - and without going into details of new mechanisms for crisis resolution - this paper analyses the role of fiscal transfers in real and business cycle convergence at a regional level. The paper distinguishes between net fiscal transfers - a broad measure defined as the ratio between disposable and primary incomes - and EU structural and investment funds. It provides evidence that net fiscal transfers have contributed to income redistribution across regions and to faster convergence in disposable incomes, although not to higher economic growth and real convergence. More positive evidence has been found for the role of the EU structural and investment funds over the medium term, based on the newly available - and richest so far - European Commission database. Going forward, in addition to efficiency considerations, which are important for real convergence, recommendations on the size and allocation of fiscal transfers should account for their impact on the business cycle. At the same time, in the longer run, it should be borne in mind that fiscal transfers are no substitute for genuine structural reforms and sound macroeconomic and fiscal policies when it comes to promoting sustainable economic growth and convergence.
The Role Of Fiscal Transfers For Regional Economic Convergence In Europe
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Author : Cristina Checherita
language : en
Publisher:
Release Date : 2009
The Role Of Fiscal Transfers For Regional Economic Convergence In Europe written by Cristina Checherita and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Fiscal Transfers And Economic Convergence In The Eu
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Author : Yves Hervé
language : en
Publisher:
Release Date : 1998
Fiscal Transfers And Economic Convergence In The Eu written by Yves Hervé and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
The Politics And Economics Of Regional Transfers
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Author : Fabio Padovano
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
The Politics And Economics Of Regional Transfers written by Fabio Padovano 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 2007-01-01 with Business & Economics categories.
Which programmes of income redistribution across jurisdictions are likely to be chosen in democratic countries and why? How does the degree of government centralization affect these choices? This book tries to answer these questions and others related to the issue of income redistribution across states and regions.
Subsidising Inequality
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Author : Martin Raiser
language : en
Publisher:
Release Date : 1996
Subsidising Inequality written by Martin Raiser and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Nominal Stability Real Convergence And Fiscal Transfers In A Monetary Union
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Author : Svend E. Hougaard Hougaard Jensen
language : en
Publisher:
Release Date : 1998
Nominal Stability Real Convergence And Fiscal Transfers In A Monetary Union written by Svend E. Hougaard Hougaard Jensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Fiscal Aspects Of European Monetary Integration
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Author : Andrew Hughes Hallett
language : en
Publisher: Cambridge University Press
Release Date : 1999-10-07
Fiscal Aspects Of European Monetary Integration written by Andrew Hughes Hallett and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-10-07 with Business & Economics categories.
A survey of fiscal policy under the restrictions of a single monetary policy and the Stability Pact.
Government Spending Taxes And Economic Growth
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Author : Mr.Paul Cashin
language : en
Publisher: International Monetary Fund
Release Date : 1994-08
Government Spending Taxes And Economic Growth written by Mr.Paul Cashin 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 1994-08 with Business & Economics categories.
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.
Does The Eurozone Need A Fiscal Capacity
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Author : Alexander Kuchta
language : en
Publisher: GRIN Verlag
Release Date : 2015-12-04
Does The Eurozone Need A Fiscal Capacity written by Alexander Kuchta and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-04 with Business & Economics categories.
Master's Thesis from the year 2015 in the subject Economics - Other, grade: 1,3, University of Frankfurt (Main), language: English, abstract: The European Monetary and Economic Union (EMU) is often described as a house without a roof. It is nice to be in it when the sun is shining but a horrible place to be when it starts to rain. A roof in this case alludes to the fact that the Euro is a currency without a state. MacDougall (1977) has addressed this issue in the 1970’s where he highlighted the necessity of a fiscal capacity. He proposed that before a common currency could be introduced, some form of federal budget should be established in order to help aligning the member states more closely to each other. During the first years of the Euro it seemed as if these opinions were wrong. The euro was a stable currency that even threatened the supremacy of the dollar. However, these days are long gone. The financial crisis and the subsequent sovereign debt crisis have revealed that the inherent problems of the euro were covered by immense flows of capital from north to south. When these flows abated the Eurozone was left in a state of large disequilibria without any instruments to cope. As readjustment takes longer than expected, the political, economic and social costs have since then increased strongly (see exemplarily Sinn (2012)). This master thesis picks up on this topic and tackles the question whether or not the Eurozone needs a common budget or transfers mechanism in order to cope with the challenges of a common currency. In order to do so Chapter 2 will explore the optimal currency theory and try to determine how fiscal transfers can help to cope with idiosyncratic shocks. Subsequently, Chapter 3 analyses the roots of the large disequilibria in the EMU. An analysis of the degree of business cycle convergence and inflation differentials is conducted. Chapter 4.1. investigates the role of automatic stabilisers as a shock absorption instrument and tries to determine how much insurance it can provide for the regions in existing federations. In Chapter 4.2. the efficacy of the enacted changes in the EMU financial, fiscal and eco-nomic framework to cope with the existing weaknesses of the EMU structure is determined. , Chapters 4.3, 4.4 and 4.5 are assessing the potential impact of a European tax-benefit systems and European economic agency, transfer mechanism based on a macroeconomic indicator and a European basic unemployment insurance in terms of business cycle conver-gence, countercyclical properties and their potential problems.
Perspectives On European Monetary Union
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Author : Helmut Wagner
language : en
Publisher:
Release Date : 1998
Perspectives On European Monetary Union written by Helmut Wagner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with European currency unit categories.