haku: @author Taylor, M. P. / yhteensä: 12
viite: 6 / 12
| Tekijä: | Masson, P. R. Taylor, M. P. |
| Otsikko: | Fiscal Policy within Common Currency Areas |
| Lehti: | Journal of Common Market Studies
1993 : MAR, VOL. 31:1, p. 29-44 |
| Asiasana: | FISCAL POLICY MONETARY POLICY TAXATION CURRENCY |
| Kieli: | eng |
| Tiivistelmä: | Policy spillovers exist among countries irrespective of whether they are members of a currency union. However, the nature of these spillovers is affected by the exchange rate regime in place; for example, an expansionary fiscal policy may be negatively, not positively transmitted in a currency union. Countries in a currency union may become more integrated economically, as well as more concerned about the welfare of their neighbours. Currency unions cannot ignore the effects of fiscal policies on the exchange rate mechanism. In order to discipline fiscal policies and reduce unfavourable regional effects, mechanisms for achieving both fiscal transfers and enhanced fiscal policy co-ordination are helpful. |
SCIMA