ON THE INSURANCE FUNCTION OF FISCAL POLICY IN A MONETARY UNION

Oscar Bajo-Rubio () and Carmen Diaz-Roldan

No 12, Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra from Departamento de Economía - Universidad Pública de Navarra

Abstract: In this paper we first review the available literature on the degree of insurance against shocks, provided by the central budget in the federal systems already existing. Next, we discuss the main points raised on the debate about the implementation of an automatic mechanism designed to cope with country-specific shocks in a monetary union, and present a specific proposal of such a mechanism.

Keywords: Monetary union; fiscal federalism; insurance function (search for similar items in EconPapers)
JEL-codes: E62 E63 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2000
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Citations: View citations in EconPapers (2)

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