Euro Area Fiscal Stance: Definition, Implementation and Democratic Legitimacy
Detaljna analiza
11-07-2016
Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only in “exceptional” times, the usual bottom-up approach of fiscal policy remaining appropriate for “normal” times. In such setting, the European Fiscal Board would play a key role in advising the Commission on the existence of “exceptional” circumstances, on the adequate aggregate fiscal stance and on its desirable distribution across member states.
Detaljna analiza
Vanjski autor
Agnès Bénassy-Quéré
Informacije o dokumentu
Vrsta publikacije
Područje politike
Ključna riječ
- državni proračun
- EKONOMIJA
- ekonomska analiza
- ekonomska analiza
- europodručje
- EUROPSKA UNIJA
- FINANCIJE
- gospodarsko stanje
- gospodarsko upravljanje (EU)
- inflacija
- javne financije i proračunska politika
- javni dug
- koordinacija politika EMU
- monetarna ekonomija
- monetarni odnosi
- načelo supsidijarnosti
- pravo EU-a
- proračunska politika