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Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed light on the empirical relevance of this consideration, the impact of the exchange rate...
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This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...
Persistent link: https://www.econbiz.de/10011431564
We analyze data from an author‐conducted survey of members of the French and German parliaments on European Monetary Union reform preferences. We consider three potential drivers of preferences: nationality, ideology, and personal characteristics. For European Monetary Union policies like...
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Die Bestimmungen zur europäischen Wirtschafts- und Währungsunion (WWU) im Unionsvertrag haben die Anreize für öffentliche Verschuldung verändert. Die Analyse zeigt, daß trotz der Bemühungen, die nationale Eigenverantwortlichkeit zu bewahren, nicht mit einer effektiven Disziplinierung...
Persistent link: https://www.econbiz.de/10011621819
This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...
Persistent link: https://www.econbiz.de/10011576597
This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or noncooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...
Persistent link: https://www.econbiz.de/10011300749
This study analyzes results from an original survey of members of the French and German parliaments (Assemblée Nationale, Sénat and Bundestag) on economic policies and institutions of the Eurozone. We find that French politicians are significantly more supportive of Eurobonds, a European...
Persistent link: https://www.econbiz.de/10011754032
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