Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments write by Mr.Francesco P. Mongelli. This book was released on 1997-07-01. Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments available in PDF, EPUB and Kindle. This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that “high-debt” and “high-tax” countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
Effects of the European Economic and Monetary Union (Emu) on Taxation and Interest Spending of National Governments
Effects of the European Economic and Monetary Union (Emu) on Taxation and Interest Spending of National Governments - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Effects of the European Economic and Monetary Union (Emu) on Taxation and Interest Spending of National Governments write by Francesco Paolo Mongelli. This book was released on 2006. Effects of the European Economic and Monetary Union (Emu) on Taxation and Interest Spending of National Governments available in PDF, EPUB and Kindle. This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that quot;high-debtquot; and quot;high-taxquot; countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability
The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability write by Mr.Francesco P. Mongelli. This book was released on 1996-07-01. The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability available in PDF, EPUB and Kindle. This paper presents a methodology to analyze the responsiveness of fiscal sustainability to the “endogenous fiscal discipline” that will be strengthened by the EMU. This discipline arises in response to the harmonization of tax systems, the loss of control of current and prospective money financing, and the deepening of financial market-based discipline. The model used in this paper is a generalization of Blanchard’s (1984) model, in which the interest rate is determined endogenously. This provides the framework to analyze more features of the linkage between sustainability and endogenous fiscal discipline. This paper also presents a new intratemporal fiscal sustainability index.
Fiscal Federalism and European Economic Integration
Fiscal Federalism and European Economic Integration - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Federalism and European Economic Integration write by Mark Baimbridge. This book was released on 2005-06-28. Fiscal Federalism and European Economic Integration available in PDF, EPUB and Kindle. The pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
Fiscal Policy, Taxation and the Financial System in an Increasingly Integrated Europe
Fiscal Policy, Taxation and the Financial System in an Increasingly Integrated Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Policy, Taxation and the Financial System in an Increasingly Integrated Europe write by D.E. Fair. This book was released on 2012-12-06. Fiscal Policy, Taxation and the Financial System in an Increasingly Integrated Europe available in PDF, EPUB and Kindle. The papers collected in this volume are those presented at the sixteenth Colloquium arranged by the Societe Universitaire Europeenne de Re cherches Financieres (SUERF), which took place in Lisbon in May 1991. The Society is supported by a large number of central banks and commer cial banks, by other financial and business institutions, and by personal subscriptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Developments in Banking' and at Strasbourg, France in January 1972 under the title 'Aspects of European Monetary Union'.
