FISCAL UNION - OPTIONS FOR THE IMPLEMENTATION OF THE MACROECONOMIC STABILIZATION FUNCTION IN THE EURO AREA

Sorin-Nicolae Curcă

Euroinfo, 2018, vol. 2, issue 7-8, 51-58

Abstract: The discussions that emerged in the context of the debates on the future of the European Union brought to the attention the need to achieve the Fiscal Union and, in direct relation with it, the implementation of a stabilization function that would increase the Economic and Monetary Union's capacity to cope with macroeconomic shocks. This paper addresses this aspect from the perspective of options that have remarked over time regarding the introduction of this function such a fiscal capacity. In this context, it was intended to present the arguments for such a mechanism, the principles that should characterize its construction, as well as to analyze the main fiscal stabilization instruments.

Keywords: risk-sharing; macroecnomic stabilization; „rainy-day” fund; unemployment insurance; Economic and Monetary Union (search for similar items in EconPapers)
JEL-codes: E62 E63 F45 H77 H87 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:2:y:2018:i:7-8:p:51-58

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