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The Political Economy of Fiscal and Monetary Unions

  • Federico Etro

    ()

    (UCSC, Milan)

I study the political economy of fiscal unions, where the provision of public goods with spillovers across heterogeneous countries is coordinated, and of monetary unions, where monetary policy is delegated to a supranational authority by countries subject to different shocks. The focus is on the impact of institutional organizations on the size and scope of unions. I provide new results of comparative politics on alternative hierarchies between national and supranational governments choosing on public spending and redistribution, strategic delegation of policymakers under representative democracy and on the role of macroeconomic interdependence in monetary unions.

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File URL: ftp://ftp.gde.unibocconi.it/gde_articles/2004/GDE_V63_N3-4_P289-328.pdf
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Article provided by GDE (Giornale degli Economisti e Annali di Economia), Bocconi University in its journal Giornale degli Economisti e Annali di Economia.

Volume (Year): 63 (2004)
Issue (Month): 3-4 (December)
Pages: 289-328

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Handle: RePEc:gde:journl:gde_v63_n3-4_p289-328
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  1. Alesina, Alberto F & Angeloni, Ignazio & Etro, Federico, 2001. "The Political Economy of International Unions," CEPR Discussion Papers 3117, C.E.P.R. Discussion Papers.
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  14. Crémer, Jacques & Palfrey, Thomas, 2000. "Federal Mandates by Popular Demand," IDEI Working Papers 120, Institut d'Économie Industrielle (IDEI), Toulouse, revised 2001.
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  17. Kevin Roberts, 1999. "Dynamic voting in clubs," LSE Research Online Documents on Economics 19349, London School of Economics and Political Science, LSE Library.
  18. Economides, George & Miaouli, Natasha, 2006. "Federal transfers, environmental policy and economic growth," Journal of Macroeconomics, Elsevier, vol. 28(4), pages 680-699, December.
  19. Patrick Bolton & Gérard Roland, 1997. "The Breakup of Nations: A Political Economy Analysis," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1057-1090.
  20. R Dur & H.J. Roelfsema, 2004. "Why Does Centralisation Fail to Internalise Policy Externalities?," Working Papers 04-09, Utrecht School of Economics.
  21. Sibert, Anne & Sutherland, Alan, 2000. "Monetary union and labor market reform," Journal of International Economics, Elsevier, vol. 51(2), pages 421-435, August.
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  23. Meltzer, Allan H & Richard, Scott F, 1981. "A Rational Theory of the Size of Government," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 914-27, October.
  24. Daniel Brou & Michele Ruta, 2003. "Lobbying, Bargaining and EU Enlargement," Rivista di Politica Economica, SIPI Spa, vol. 93(1), pages 195-216, January-F.
  25. John B. Burbidge & James A. DePater & Gordon M. Myers & Abhijit Sengupta, 1996. "A Coalition-formation Approach to Equilibrium Federations and Trading Block s," Department of Economics Working Papers 1996-05, McMaster University.
  26. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June.
  27. Beramendi, Pablo, 2003. "Political institutions and income inequality: The case of decentralization," Discussion Papers, Research Unit: Institutions, States, Markets SP II 2003-09, Social Science Research Center Berlin (WZB).
  28. Ben Lockwood, 2002. "Distributive Politics and the Costs of Centralization," Review of Economic Studies, Oxford University Press, vol. 69(2), pages 313-337.
  29. Persson, Torsten & Tabellini, Guido, 1996. "Federal Fiscal Constitutions: Risk Sharing and Moral Hazard," Econometrica, Econometric Society, vol. 64(3), pages 623-46, May.
  30. Buchanan, James M & Faith, Roger L, 1987. "Secession and the Limits of Taxation: Toward a Theory of Internal Exit," American Economic Review, American Economic Association, vol. 77(5), pages 1023-31, December.
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  33. Federico Etro, 2006. "Strategic Export Promotion," Working Papers 101, University of Milano-Bicocca, Department of Economics, revised Oct 2006.
  34. Fabrizio De Filippis & Luca Salvatici, 2002. "The Eastward Enlargement of the European Union and the Common Agricultural Policy: the Direct Payments Issue," Rivista di Politica Economica, SIPI Spa, vol. 92(1), pages 321-358, January-F.
  35. Bordignon, Massimo & Brusco, Sandro, 2001. "Optimal secession rules," European Economic Review, Elsevier, vol. 45(10), pages 1811-1834, December.
  36. Ruta, Michele, 2003. "The allocation of competencies in an international union: a positive analysis," Working Paper Series 0220, European Central Bank.
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