Series: Staff Discussion Notes
Author(s): Nathaniel Arnold , Bergljot Barkbu , H. Elif Ture , Hou Wang , and Jiaxiong Yao
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 26 March 2018
Keywords: Euro Area, Fiscal policy, Euro Area; Fiscal Integration; Macroeconomic Stabilization; Central fiscal capacity; Fiscal policy; Macroeconomic policy mix; Fiscal union;, Fiscal Integration, Macroeconomic Stabilization
This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic stabilization fund fina...