Together or Separately? Issues on the Costs and Benefits of Political and Fiscal Unions
Around the world one observes a tendency toward political separatism. The economic literature generally (but not always) emphasizes several benefits of large fiscal (and, therefore, political) jurisdictions. In this paper we discuss several politico-economic arguments which reconcile this tension between â€œnormativeâ€ economic models and empirical observations.
|Date of creation:||1995|
|Date of revision:|
|Publication status:||Published in European Economic Review|
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