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Fiscal federalism- US history for architects of Europe's fiscal union

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  • C. Randall Henning
  • Martin Kessler

Abstract

Ever since first the blueprints for monetary union in Europe were drawn up, the United States, considered as a collection of individual states or regions, has served as a benchmark for assessing its feasibility and evaluating alternative policy options. Starting with Robert Mundell’s seminal 1961 article on optimal currency areas, countless papers have explored the inner workings of US labour, product and capital markets, and of its public finances, in...

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  • C. Randall Henning & Martin Kessler, 2012. "Fiscal federalism- US history for architects of Europe's fiscal union," Essays and Lectures 669, Bruegel.
    • Handle: RePEc:bre:esslec:669
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    1. C. Randall HENNING & Martin KESSLER, 2012. "Fiscal Federalism: US History for Architects of Europe’s Fiscal Union," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 1-31.
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