Fiscal Policy and Growth in the Context of European Integration
Paul Masson ()
No 00/133, IMF Working Papers from International Monetary Fund
The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of scale not captured at the national level. These may include spending on research and development and transportation or knowledge networks, and harmonization of social security designed to enhance labor mobility. EU-wide stabilization policy or enhanced EU redistribution does not seem justified, however.
Keywords: European Union; Economic growth; Fiscal policy; Social security; Taxation; fiscal federalism, tax competition, tax rates, fiscal policies, pension, pensions (search for similar items in EconPapers)
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Working Paper: Fiscal Policy and Growth in the Context of European Integration (2000)
Working Paper: Fiscal policy and growth in the context of European integration (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:00/133
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