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Union monétaire et fédéralisme

Listed author(s):
  • Pierre-Alain Muet
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    [fre] La perspective de l'Union monétaire a suscité un renouveau d'intérêt pour un thème ancien de la littérature économique et politique : le fédéralisme. Quels enseignements peut-on tirer des expériences fédérales pour la construction européenne ? La première partie de l'article examine les mécanismes de redistribution et de stabilisation économique dans les principaux Etats fédéraux. La seconde analyse les apports de la théorie économique du fédéralisme à la réflexion sur la nature de la construction européenne, notamment dans la perspective de l'Union monétaire. On examine successivement: l'organisation des pouvoirs dans l'Union, l'articulation de la politique monétaire et des politiques budgétaires et l'allocation des choix publics entre les différents niveaux institutionnels. La conclusion plaide pour un renforcement des mécanismes de solidarité notamment budgétaires qui devrait accompagner une plus grande démocratisation des structures communautaires. [eng] Monetary Union and Federalism Pierre-Alain Muet The prospect of monetary union has renewed an interest in an old theme of the economic and political literature : federalism. What lessons can be drawn from existing federations for the building of Europe ? The first part of the paper surveys the main features of existing federations and the impact of federal budgets in stabilizing regional business cycles. The second part analyses the contribution of the economic theory of federalism as it reflects on European integration and the prospect of monetary Union. It examines the following points : the organisation of powers in EU ; the problem of coordinating fiscal and monetary policies ; and the allocation of public choices between different levels of government. The conclusion advocates for a strengthening of solidarity mechanisms within the Union, in particular on the budgetary side, which should parallel a higher democratization of Community institutions.

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    Article provided by Programme National Persée in its journal Revue de l'OFCE.

    Volume (Year): 55 (1995)
    Issue (Month): 1 ()
    Pages: 151-170

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    Handle: RePEc:prs:rvofce:ofce_0751-6614_1995_num_55_1_1408
    Note: DOI:10.3406/ofce.1995.1408
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    1. von Hagen, Jurgen & Hammond, George W, 1998. "Regional Insurance against Asymmetric Shocks: An Empirical Study for the European Community," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(3), pages 331-353, June.
    2. Eichengreen, Barry, 1990. "One Money for Europe? Lessons from the US Currency Union," Department of Economics, Working Paper Series qt6ks1k831, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    3. Wildasin, David E, 1990. "Budgetary Pressures in the EEC: A Fiscal Federalism Perspective," American Economic Review, American Economic Association, vol. 80(2), pages 69-74, May.
    4. Tamim Bayoumi & Barry Eichengreen, 1992. "Shocking Aspects of European Monetary Unification," NBER Working Papers 3949, National Bureau of Economic Research, Inc.
    5. Bayoumi, Tamim & Prasad, Eswar, 1995. "Currency Unions, Economic Fluctuations and Adjustment: Some Empirical Evidence," CEPR Discussion Papers 1172, C.E.P.R. Discussion Papers.
    6. Masson, Paul R & Taylor, Mark P, 1992. "Common Currency Areas and Currency Unions: An Analysis of the Issues," CEPR Discussion Papers 617, C.E.P.R. Discussion Papers.
    7. Bayoumi, Tamim & Masson, Paul R., 1995. "Fiscal flows in the United States and Canada: Lessons for monetary union in Europe," European Economic Review, Elsevier, vol. 39(2), pages 253-274, February.
    8. Wyplosz, Charles, 1991. "Monetary Union and Fiscal Policy Discipline," CEPR Discussion Papers 488, C.E.P.R. Discussion Papers.
    9. Melitz, Jacques & Vori, Silvia, 1992. "National Insurance Against Unevenly Distributed Shocks in a European Monetary Union," CEPR Discussion Papers 697, C.E.P.R. Discussion Papers.
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