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.
The Effects of the European Economic and Monetary Union 8 EMU ) on National Fiscal Sustainability
The Effects of the European Economic and Monetary Union 8 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 8 EMU ) on National Fiscal Sustainability write by Francesco P. Mongelli. This book was released on 1996. The Effects of the European Economic and Monetary Union 8 EMU ) on National Fiscal Sustainability available in PDF, EPUB and Kindle.
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 P. Mongelli. This book was released on 1997-07. Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments available in PDF, EPUB and Kindle. The current members of the European Union (EU) are becoming increasingly integrated from an economic and financial standpoint. In the coming years, some EU members may also establish the European Economic and Monetary Union (EMU) and adopt a common single currency, the euro. While integration was deepening, the fiscal performance of most EU members gradually deteriorated leading to higher, albeit uneven, public indebtedness. How could the EMU affect the public finances of the participating countries?
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 1997. Effects of the European Economic and Monetary Union EMU on Taxation and Interest Spending of National Governments available in PDF, EPUB and Kindle.
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 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.
