| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1215 |
| DP1215 Voucher Privatization, Corporate Control and the Cost of Capital: An Analysis of the Czech Privatization Programme | |
| Sweder van Wijnbergen; Anton Marcincin | |
| 发表日期 | 1995-09-30 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | Avocates of formal fiscal restraints on the member states of the European Monetary Union often argue that US experience proves that a monetary union needs such constraints to guarantee the stability of the common currency. We show, first, that the origin of formal fiscal restraints on US state governments is unrelated to monetary questions. Second, we show that the same is true for similar constraints in Australia. Third, we show that the incidence of fiscal restraints is strongly correlated with the central government's ownership of the national tax base. The implication for Europe is that fiscal restraints are unnecessary as long as the EU retains a high degree of fiscal decentralization. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal federalism Fiscal restraints Monetary union |
| URL | https://cepr.org/publications/dp1215 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530377 |
| 推荐引用方式 GB/T 7714 | Sweder van Wijnbergen,Anton Marcincin. DP1215 Voucher Privatization, Corporate Control and the Cost of Capital: An Analysis of the Czech Privatization Programme. 1995. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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