文章基本信息

标题：The Stabilising Role of US Federal Fiscal Institutions — What Lessons for the Euro Area?
本地全文：下载
作者：Cinzia Alcidi ; Cinzia Alcidi ; Gilles Thirion 等
期刊名称：Intereconomics
印刷版ISSN：0020-5346
电子版ISSN：1613-964X
出版年度：2017
卷号：52
期号：3
页码：137-142
DOI：10.1007/s10272-017-0662-y
语种：English
出版社：Springer
摘要：Abstract The classic argument for a euro area “fiscal capacity”, understood in this contribution as a centralised fiscal stabiliser, revolves around the need to dampen the effects of asymmetric shocks. According to those preaching this conventional wisdom, a common fiscal stabiliser designed along the lines of the US federal fiscal system would have stabilised incomes in member states hit the hardest, thereby avoiding the divergence that has unfolded in the aftermath of the financial crisis between the South, led by Italy and Greece, and the North, led by Germany and the Benelux countries.