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来源类型Working Paper
规范类型报告
DOI10.3386/w17380
来源IDWorking Paper 17380
A Fiscal Union for the Euro: Some Lessons from History
Michael D. Bordo; Agnieszka Markiewicz; Lars Jonung
发表日期2011-09-01
出版年2011
语种英语
摘要The recent financial crisis 2007-2009 was the longest and the deepest recession since the Great Depression of 1930. The crisis that originated in subprime mortgage markets was spread and amplified through globalised financial markets and resulted in severe debt crises in several European countries in 2010 and 2011. Events revealed that the European Union had insufficient means to halt the spiral of European debt crisis. In particular, no pan-European fiscal mechanism to face a global crisis is available at present. The aim of this study is to identify the characteristics of a robust common fiscal policy framework that could have alleviated the consequences of the recent crisis. This is done by using the political and fiscal history of five federal states; Argentina, Brazil, Canada, Germany and the United States.
主题Public Economics ; Subnational Fiscal Issues
URLhttps://www.nber.org/papers/w17380
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/575054
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Michael D. Bordo,Agnieszka Markiewicz,Lars Jonung. A Fiscal Union for the Euro: Some Lessons from History. 2011.
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