How to Redesign the Fiscal Regime of the Eurozone: An Alternative Take on Lessons from US and Eurozone Experiences
In this Working Paper of the
European Trade Union Institute, Jörg Bibow argues that common, rather than asymmetrical, shocks are the norm in the
euro area and that the euro’s institutions cannot deal effectively with area-wide recession and systemic financial crises. He discusses the design of a workable fiscal union for the euro area by comparing fiscal institutions in the U.S. with those in the euro area, and draws lessons from the U.S. regime that could inform the design of a better functioning euro regime.
https://www.etui.org/content/download/35880/356851/file/WP 2019 02-Bibow-WEB.pdf
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