Caiani, Alessandro; Catullo, Ermanno - 2023
Using a refined version of the multi-country AB-SFC model of a Monetary Union already presented in Caiani et al. (2018a … Union into an Intergovernmental Fiscal Transfer Union (IFTU) with its own fiscal capacity. Countries contribute … worse than the average of the Union in cyclical terms. Our simulations show that an IFTU inspired by such a redistribution …