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Fédéralisme fiscal dans un modèle de zone monétaire optimale

  • Michel Beine
  • Frédéric Docquier

[eng] Fiscal federalism and european stabilization. . The future European Union shed light on fiscal policies. We study in this article the ability of fiscal federalism to stabilize macroeconomic fluctuations. More particularly, we evaluate the stabilizing effects of automatic stabilizers and direct transfers at the federal budget level. This evaluation takes place in an intertemporal stochastic two-country model with incomplete markets. It appears that there exists a direct transfers rule between national and federal governments which allows households to share the risk implied by relative demand shocks. This result lies on the fact that households do not take into account this rule in their private decisions. [fre] Dans cet article, on développe un modèle stochastique d'équilibre général basé sur la théorie des zones monétaires optimales et permettant d'évaluer les effets stabilisateurs et redistributifs du fédéralisme fiscal dans une union monétaire. Plusieurs modes d'attribution des transferts sont envisagés. On dégage que les méthodes basées sur le revenu stabilisent le niveau d'activité, alors que les règles basées sur le chômage sont généralement déstabilisatrices. On propose toutefois un aménagement de ces dernières qui induit une stabilisation du revenu et minimise les effets redistributifs non désirés.

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Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/10467.

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Date of creation: 1997
Date of revision:
Publication status: Published in: Revue Economique (1997) v.3,p.519-527
Handle: RePEc:ulb:ulbeco:2013/10467
Contact details of provider: Postal: CP135, 50, avenue F.D. Roosevelt, 1050 Bruxelles
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