Social Sciences
3 years ago

Centralized EU fiscal union prescriptions deemed fundamentally flawed by fiscal federalism study.

Cambridge University Press eBooks
Principles of Fiscal Federalism for the European Union
Brady Gordon

Paper Summary

The article discusses how different models of fiscal federalism can work in the European Union. It looks at factors like market discipline, budget constraints, and fiscal rules in countries like Germany, Switzerland, the USA, Canada, and the EU. The study shows that centralized fiscal governance doesn't work well in a decentralized federation without market discipline.

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