| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15382 |
| DP15382 Fiscal policy in Europe: a helicopter view | |
| Florin Bilbiie; Tommaso Monacelli; Roberto Perotti | |
| 发表日期 | 2020-10-19 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We discuss the main fiscal policy issues in the Eurozone, focusing on two that are at the core of the current debate. The first is that, right from the start, the government deficit and debt were the key objects of contention in the debate that led to the creation of the Eurozone, and they still are. The second issue is that a currency union implies the loss of a country-specific instrument, a national monetary policy. This puts a higher burden on fiscal policy as a tool to counteract shocks, a burden that might be even heavier now that the European Central Bank has arguably reached the Zero Lower Bound. Two obvious solutions are mutual insurance (or risk sharing, we use the two expressions interchangeably) between countries; and a centralized stabilization policy. Yet both have been remarkably difficult to come by. |
| 主题 | International Macroeconomics and Finance ; Macroeconomics and Growth ; Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp15382 |
| 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/544366 |
| 推荐引用方式 GB/T 7714 | Florin Bilbiie,Tommaso Monacelli,Roberto Perotti. DP15382 Fiscal policy in Europe: a helicopter view. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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