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Fiscal Federalism in Europe

Fiscal Federalism in Europe »

Source: Fiscal Federalism in Europe : Is it a Necessary Precondition for a Successful European Economic and Monetary Integration?

Volume/Issue: 1994/74

Series: IMF Working Papers

Author(s): Norbert Berthold

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451849523

Keywords: monetary union, fiscal stabilization policies, fiscal federalism, fiscal stabilization

An important question in the process of European integration concerns the best institutional level for stabilization policies. The theory of fiscal federalism gives criteria for evaluating if fiscal stabilization p...

Market-Based Fiscal Discipline in Monetary Unions

Market-Based Fiscal Discipline in Monetary Unions »

Source: Market-Based Fiscal Discipline in Monetary Unions : Evidence From the U.S. Municipal Bond Market

Volume/Issue: 1991/89

Series: IMF Working Papers

Author(s): Morris Goldstein , and Geoffrey Woglom

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1991

ISBN: 9781451851205

Keywords: bonds, bond, fiscal policy, fiscal discipline, municipal bond, Market-Based Fiscal Discipline in Monetary Unions:,

The concept of market-based fiscal discipline posits that a government which runs persistent, excessive fiscal deficits will face an increased cost of borrowing and eventually, a reduced availability of credit, and...

Fiscal Policy Coordination in the Waemu After the Devaluation

Fiscal Policy Coordination in the Waemu After the Devaluation »

Source: Fiscal Policy Coordination in the Waemu After the Devaluation

Volume/Issue: 1995/25

Series: IMF Working Papers

Author(s): Christoph Rosenberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

ISBN: 9781451844207

Keywords: fiscal externalities, fiscal policies, taxation, monetary union, harmonization strategy, African Department,

This paper examines the economic implications of fiscal policy coordination in the West African Economic and Monetary Union (WAEMU) in the light of the January 1994 devaluation of the CFA franc. Diverging tax, tari...

Consequences of the Economic and Monetary Union for the Coordination of Tax Systems in the European Union

Consequences of the Economic and Monetary Union for the Coordination of Tax Systems in the European Union »

Source: Consequences of the Economic and Monetary Union for the Coordination of Tax Systems in the European Union : Lessons from the U.S. Experience

Volume/Issue: 1998/115

Series: IMF Working Papers

Author(s): Howell Zee , and Vito Tanzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451943016

Keywords: Tax coordination, tax competition, economic union, tax rates, tax systems, tax system, taxation, corporate income tax

With the advent of the economic and monetary union in the European Union (EU), the economic landscape of the EU will bear a striking resemblance to that of the United States in terms of fundamental attributes such...

Reconciling Stability and Growth

Reconciling Stability and Growth »

Source: Reconciling Stability and Growth : Smart Pacts and Structural Reforms

Volume/Issue: 2003/174

Series: IMF Working Papers

Author(s): Roel Beetsma , and Xavier Debrun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

ISBN: 9781451858716

Keywords: Structural reforms, Stability and Growth Pact, Monetary Union, Sanctions, unemployment, employment, employment protection, fiscal policy, fiscal rules, International Monetary Arrangements and Institutions

This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pa...

Will Fiscal Policy Be Effective Under EMU?

Will Fiscal Policy Be Effective Under EMU? »

Source: Will Fiscal Policy Be Effective Under EMU?

Volume/Issue: 1998/176

Series: IMF Working Papers

Author(s): M. Cangiano , and Eric Mottu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451975550

Keywords: Economic Union, Policy Coordination, expenditure, central fiscal, fiscal authority, fiscal policies

European Economic and Monetary Union does not envisage creating a central fiscal authority. Monetary and exchange rate policies will be centralized, but fiscal policy will remain a national responsibility, in line...

Monetary Union in West Africa

Monetary Union in West Africa »

Source: Monetary Union in West Africa : An Agency of Restraint for Fiscal Policies?

Volume/Issue: 2001/34

Series: IMF Working Papers

Author(s): Catherine Pattillo , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2001

ISBN: 9781451845266

Keywords: monetary union, fiscal discipline, ECOWAS, CFA franc zone, central bank, inflation, fiscal policies,

Could a West African monetary union (either of the non-CFA countries, or all ECOWAS members) be an effective "agency of restraint" on fiscal policies? We discuss how monetary union could affect fiscal discipline an...

Financial Stability and Fiscal Crises in a Monetary Union

Financial Stability and Fiscal Crises in a Monetary Union »

Source: Financial Stability and Fiscal Crises in a Monetary Union

Volume/Issue: 2001/200

Series: IMF Working Papers

Author(s): Samir Jahjah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874358

Keywords: central bank, monetary union, fiscal policy, International Monetary Arrangements and Institutions, National Budget, Deficit, and Debt: General,

The main tasks of central banks are to secure price and financial stability. These objectives can, in times of crises, conflict with one another, and the central bank may have to renounce one of them in order to se...

Tax Coordination, Tax Competition, and Revenue Mobilization in the West African Economic and Monetary Union

Tax Coordination, Tax Competition, and Revenue Mobilization in the West African Economic and Monetary Union »

Source: Tax Coordination, Tax Competition, and Revenue Mobilization in the West African Economic and Monetary Union

Volume/Issue: 2013/163

Series: IMF Working Papers

Author(s): Mario Mansour , and Gregoire Rota Graziosi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 July 2013

ISBN: 9781484354216

Keywords: Revenue mobilization, Tax policy, Tax revenues, West African Economic and Monetary Union, tax coordination, tax harmonization, tax competition

We review the current state of the West African Economic and Monetary Union's tax coordination framework, against the main objectives of the WAEMU Treaty of 1994: reduce distortions to intra-community trade, and mo...

Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union

Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union »

Source: Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union

Volume/Issue: 2003/162

Series: IMF Working Papers

Author(s): Anthony Pellechio , Saqib Rizavi , and Phebby Kufa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2003

ISBN: 9781451857894

Keywords: Currency Union, public debt, debt ratio, fiscal policies, central bank, Studies of Particular Policy Episodes, National Deficit Surplus,

The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using th...