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Fiscal federalism, discipline and selection adverse in the EU : Lessons from a theoretical model

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Author Info
BARBIER-GAUCHARD Amélie () (Laboratoire d'Economie d'Orléans)
Abstract

What is the optimal wat to stabilize shocks and to take care of fiscal discipline in a fiscal union ? Among the various possible ways, this paper focuses on an inter-countries insurance scheme conditioned by the national preference for the fiscal discipline of each government. We will show that the insurance scheme improves significantly the union's social welfare because it enables to cover deviations of the output gap and correct national preferences.

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File URL: http://economicsbulletin.vanderbilt.edu/2005/volume5/EB-05E60002A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 5 (2005)
Issue (Month): 11 ()
Pages: 1-8
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Handle: RePEc:ebl:ecbull:v:5:y:2005:i:11:p:1-8

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Related research
Keywords: EU; fiscal discipline; fiscal federalism; inter-countries insurance; selection adverse; stabilization;

Find related papers by JEL classification:
E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
H7 - Public Economics - - State and Local Government; Intergovernmental Relations

References listed on IDEAS
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  1. Arjan Kadareja, 2001. "The Fiscal Stabilization Policy under EMU - An Empirical Assessment," Working Papers 2001-20, CEPII research center. [Downloadable!]
  2. Hammond, George & von Hagen, Jürgen, 1995. "Regional Insurance Against Asymmetric Shocks. An Empirical Study for the European Community," CEPR Discussion Papers 1170, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. van Aarle, Bas & Huart, Florence, 1999. "Monetary and fiscal unification in the EU: a stylized analysis," Journal of Economics and Business, Elsevier, vol. 51(1), pages 49-66, January. [Downloadable!] (restricted)
    Other versions:
  4. Van Der Ploeg, F., 1990. "Macroeconomic Policy Coordination During The Various Phases Of Economic And Monetary Integration In Europe," Papers 9061, Tilburg - Center for Economic Research.
  5. Aarle, B. van & Jensen, S.E.H., 1996. "Output stabilization in EMU : is there a case for an EFTS?," Discussion Paper 77, Tilburg University, Center for Economic Research. [Downloadable!]
  6. Barry Eichengreen & Charles Wyplosz, 1998. "The Stability Pact: more than a minor nuisance?," Economic Policy, CEPR, CES, MSH, vol. 13(26), pages 65-113, 04. [Downloadable!] (restricted)
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