Fiscal federalism and a separate budget for the euro area

Oręziak Leokadia ()
Additional contact information
Oręziak Leokadia: Collegium of World Economy, Warsaw School of Economics, WarsawPoland

International Journal of Management and Economics, 2018, vol. 54, issue 2, 85-98

Abstract: The core objective of this paper is to determine the main political and economic conditions and challenges related to the possible evolution of the integration process in the euro area toward fiscal federalism and fiscal union as a way to increase the capacity of the area to cope with future economic and financial crises. The issue of a separate budget for this area is of particular interest in this article. The idea of such a budget has recently become the subject of lively public debate in the European Union and has been a factor in encouraging the European Commission to propose new solutions at the end of 2017 in the field of economic governance of the euro area, including the establishment of a European Monetary Fund. The analysis carried out in this article leads to the conclusion that under the current conditions, there is little chance of introducing such regulatory and institutional changes that would significantly increase the scale of financial transfers between the euro area member states.

Keywords: EU; euro area; EMU; fiscal federalism; fiscal policy; fiscal transfers; budget; monetary union (search for similar items in EconPapers)
JEL-codes: E62 F36 H72 H77 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.2478/ijme-2018-0012 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:ijomae:v:54:y:2018:i:2:p:85-98:n:4

DOI: 10.2478/ijme-2018-0012

Access Statistics for this article

International Journal of Management and Economics is currently edited by Mariusz Próchniak

More articles in International Journal of Management and Economics from Warsaw School of Economics, Collegium of World Economy
Bibliographic data for series maintained by Peter Golla ().