Fiscal Money

Biagio Bossone

Chapter Chapter 16 in Trailblazing Visions of Money in Economic Theory, 2025, pp 405-430 from Springer

Abstract: Abstract This chapter discusses the concept of “Fiscal Money,” a policy tool put forth after the 2010 European sovereign debt crisis, aimed at invigorating domestic demand in heavily indebted Eurozone nations without escalating public debt or breaching Eurozone regulations. Conceived by financier Marco Cattaneo and further developed by a collaborative group of researchers, Fiscal Money seeks to facilitate economic recovery in countries ensnared in stagnation and deflation, constrained by traditional fiscal strategies. The proposal, originally framed as Tax Credit Certificates (TCCs), highlights a fresh approach that combines fiscal and monetary policy principles. The chapter explores the theoretical underpinnings of Fiscal Money, presents simulations illustrating its practical application in Italy, and assesses its potential effectiveness in combating economic malaise. By establishing a non-debt fiscal instrument, Fiscal Money seeks to provide a viable alternative for Eurozone countries to stimulate their economies while adhering to stringent fiscal rules, paving the path toward sustainable economic growth.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-031-82544-6_16

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DOI: 10.1007/978-3-031-82544-6_16

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