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Fiscal Policy Regimes in a Monetary Union

In: Economic Convergence in a Multispeed Europe

Author

Listed:
  • K. B. Gaynor

    (Imperial College University of London)

  • E. Karakitsos

    (Imperial College University of London)

Abstract

The question of fiscal policy setting in the projected European MU has received widespread attention in the literature. The Maastricht Treaty clarified the intended form, but left much unsaid. In response, calls have been made for further analysis of both the appropriate objectives and operation of fiscal policy in such a regime. Chapter 6 examines the issue by comparing various fiscal regimes under MU by their ability to stabilize output and inflation for the individual members and the EU as a whole. The chapter also examines an area which has not received attention: the effect of the core’s choice on those left out.

Suggested Citation

  • K. B. Gaynor & E. Karakitsos, 1997. "Fiscal Policy Regimes in a Monetary Union," Palgrave Macmillan Books, in: Economic Convergence in a Multispeed Europe, chapter 6, pages 133-195, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25266-4_7
    DOI: 10.1007/978-1-349-25266-4_7
    as

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