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Fiscal Aspects of European Monetary Integration

Hardback

Main Details

Title Fiscal Aspects of European Monetary Integration
Authors and Contributors      Edited by Andrew Hughes Hallett
Edited by Michael M. Hutchison
Edited by Svend E. Hougaard Jensen
Physical Properties
Format:Hardback
Pages:362
Dimensions(mm): Height 229,Width 152
ISBN/Barcode 9780521651622
ClassificationsDewey:332.494
Audience
Professional & Vocational

Publishing Details

Publisher Cambridge University Press
Imprint Cambridge University Press
Publication Date 7 October 1999
Publication Country United Kingdom

Description

Monetary union in Europe started in 1999. The fiscal policy implications are, in many ways, more complex than the monetary issues, yet very little has been written on them. This book contains eleven papers and three review essays, which analyse a spectrum of empirical, theoretical, institutional and political aspects of the design and impact of fiscal policy in EMU. The contributors are some of the most experienced analysts in the field. Topics covered include the need for and consequences of fiscal coordination, constraints on national deficits and debt levels (the Stability Pact), and the role of fiscal federalism and insurance. The importance of coordinating fiscal and monetary policies is also considered in depth. As long as these strategic and institutional aspects remain imperfectly understood, EMU will not be able to function to its full advantage and may suffer periods of instability or weakness.

Reviews

"...address how fiscal policy and institutions should be designed in Europe in the context of the new monetary union." Journal of Economic Literature "This volume is devoted to the complex fiscal policy implications of the European Monetary Union." Journal of Macroeconomics