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1992•RePEc: Research Papers in EconomicsOpen access

The Political Economy of Fiscal Policy After EMU

Barry Eichengreen, Eichengreen, Barry

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Abstract

This paper considers the implications for fiscal policy of European Monetary Unification. Following an introduction, Section II describes and critiques the fiscal provisions of the Maastricht Treaty on Economic and Monetary Union. Section III considers the case for formal fiscal restraints and presents evidence on their effectiveness. Section IV presents a parallel analysis of the debate over fiscal federalism.

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This paper considers the implications for fiscal policy of European Monetary Unification. Following an introduction, Section II describes and critiques the fiscal provisions of the Maastricht Treaty on Economic and Monetary Union. Section III considers the case for formal fiscal restraints and presents evidence on their effectiveness. Section IV presents a parallel analysis of the debate over fiscal federalism.

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Available abstract

This paper considers the implications for fiscal policy of European Monetary Unification. Following an introduction, Section II describes and critiques the fiscal provisions of the Maastricht Treaty on Economic and Monetary Union. Section III considers the case for formal fiscal restraints and presents evidence on their effectiveness. Section IV presents a parallel analysis of the debate over fiscal federalism.

Key concepts: Maastricht Treaty, Fiscal federalism, Fiscal union, Unification, Fiscal policy, Economics, Section (typography), Economic and monetary union

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