Scandinavian Working Papers in Economics
Seminar Papers,
Stockholm University, Institute for International Economic Studies
No 765: Fiscal Policy Coordination in Europe
Lars Calmfors ()
Additional contact information
Lars Calmfors: Institute for International Economic Studies, Stockholm University, Postal: Stockholm University, S-106 69 Stockholm, Sweden
Abstract: A fundamental overhaul of EU economic governance is needed. The most important reform is a strengthening of national fiscal frameworks, including the establishment of independent fiscal watchdogs in Member States that do not yet have such institutions. At the European level, a permanent crisis resolution mechanism should be integrated with both broader macroeconomic surveillance and the sanction system. An independent European fiscal council could, based on macroeconomic risk considerations, decide in advance appropriate haircuts in the event of future sovereign debt restructuring.
Keywords: EU; economic governance; fiscal policy; macroeconomics
20 pages, August 18, 2010
Full text files
FULLTEXT03
- Stockholm University, Institute for International Economic Studies
- Ordering Working Papers
- Home page for this series
Questions (including download problems) about the papers in this series should be directed to Hanna Christiansson ()
Report other problems with accessing this service to Sune Karlsson ().
RePEc:hhs:iiessp:0765This page generated on 2024-09-13 22:15:26.