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European Fiscal Union: Economic rationale and design challenges. CEPS Working Document No. 2017-01 / January 2017

Thirion, Gilles (2017) European Fiscal Union: Economic rationale and design challenges. CEPS Working Document No. 2017-01 / January 2017. [Working Paper]

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    Abstract

    Proposals for different types of elements of a fiscal union have flourished in recent years, both from academic and policy circles. Since a fiscal union could take a constellation of different forms, this paper first provides an analytical framework pinpointing the five key elements of a fiscal union. It takes stock of the existing features of EMU that embed some form of fiscal union, and then critically analyses the main arguments for and against further fiscal integration. Finally, it surveys the key proposals for a fiscal capacity and different types of Eurobonds.

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    Item Type: Working Paper
    Uncontrolled Keywords: Fiscal integration, fiscal union, risk sharing, stabilisation mechanisms
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Working Documents
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Jan 2017 12:56
    Number of Pages: 36
    Last Modified: 23 Jan 2017 12:56
    URI: http://aei.pitt.edu/id/eprint/83771

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