Does the EMU Need a Fiscal Transfer Mechanism?

The aim of this paper is to investigate how the birth of a central fiscal authority or the creation of a fiscal transfer mechanism could improve the action of fiscal policy in terms of stabilization in the EMU. In particular, the paper examines the theoretical reasons to support this conclusion and provides empirical evidence that shows how the EMU is not able to face asymmetric and symmetric idiosyncratic shocks.

MoreLess

Year of publication:	2004
Authors:	Furceri, Davide
Published in:	Vierteljahrshefte zur Wirtschaftsforschung. - Berlin : Duncker & Humblot, ISSN 1861-1559. - Vol. 73.2004, 3, p. 418-428
Publisher:	Berlin : Duncker & Humblot
Subject:	Finanzpolitik \| Eurozone \| Schock \| EU-Staaten \| Europäischer Stabilitätsmechanismus

More details

Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.3790/vjh.73.3.418 [DOI] 820271993 [GVK] hdl:10419/99346 [Handle] RePEc:diw:diwvjh:73-30-8 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010377669