How to redesign the fiscal regime of the Eurozone: an alternative take on lessons from US and Eurozone experiences
European Trade Union Institute, Brussels
ETUI - Brussels
2019
74 p.
EMU ; euro ; fiscal policy ; currency ; financial market ; monetary policy
Working Paper
2019.02
EMU and International monetary system
English
Bibliogr.
1994-4446
11.03-67494
"This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto dysfunctional, euro regime. The paper argues that common, rather than asymmetrical, shocks are the norm in the euro area and that the euro's institutions are seriously deficient in dealing with area-wide recession and systemic financial crises."
Digital;Paper
Legal deposit : D/2019/10.574/03
The ETUI is co-funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the ETUI.