Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Research Department, issuing body.
|
|---|
| ISBN: | 145527965X
9781455279654
1462343937
9781462343935
1455237388
9781455237388
128160268X
9781281602688
9786613783370
6613783374
9781451849523
1451849524
|
|---|
| Notes: | "June 1994."
Includes bibliographical references (pages 15-19).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
|
|---|
| Summary: | Annotation 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 policies should take place on a centralized or on a decentralized level. This paper firstly discusses the usefulness of such policies. It reaches the conclusion that fiscal stabilization polices are in general not the adequate way of responding to shocks. However, since fiscal stabilization policies appear to be unavoidable for political reasons, the paper secondly discusses on which institutional level such policies should be located. Decentralized fiscal stabilization policies are preferable because they are disciplined more by market forces.
|
|---|
| Other form: | Print version: Berthold, Norbert. Fiscal federalism in Europe. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1994
|
|---|
