Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments PDF full book. Access full book title Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments by Mr.Francesco P. Mongelli. Download full books in PDF and EPUB format.
Author: Mr.Francesco P. Mongelli Publisher: International Monetary Fund ISBN: 1451951272 Category : Business & Economics Languages : en Pages : 37
Book Description
This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that “high-debt” and “high-tax” countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
Author: Mr.Francesco P. Mongelli Publisher: International Monetary Fund ISBN: 1451951272 Category : Business & Economics Languages : en Pages : 37
Book Description
This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that “high-debt” and “high-tax” countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
Author: Francesco Paolo Mongelli Publisher: ISBN: Category : Languages : en Pages : 36
Book Description
This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate differentials. A model of Blanchard and Fischer is amended to analyze the two channels, and empirical evidence on the tax harmonization process is presented. The paper argues that quot;high-debtquot; and quot;high-taxquot; countries pursuing prudent fiscal policies could benefit the most from EMU: if monetary and widespread fiscal discipline are jointly established, interest rates could decline rapidly, while tax harmonization is likely to be gradual.
Author: Mr.Francesco P. Mongelli Publisher: International Monetary Fund ISBN: 145184929X Category : Business & Economics Languages : en Pages : 47
Book Description
This paper presents a methodology to analyze the responsiveness of fiscal sustainability to the “endogenous fiscal discipline” that will be strengthened by the EMU. This discipline arises in response to the harmonization of tax systems, the loss of control of current and prospective money financing, and the deepening of financial market-based discipline. The model used in this paper is a generalization of Blanchard’s (1984) model, in which the interest rate is determined endogenously. This provides the framework to analyze more features of the linkage between sustainability and endogenous fiscal discipline. This paper also presents a new intratemporal fiscal sustainability index.
Author: Mark Baimbridge Publisher: Routledge ISBN: 1134538758 Category : Business & Economics Languages : en Pages : 235
Book Description
The pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
Author: Geoffrey Denton Publisher: Taylor & Francis ISBN: 1000549658 Category : Business & Economics Languages : en Pages : 129
Book Description
In its pursuit of economic integration, economic and monetary union (EMU) had become a primary commitment for the European Community. Originally published in 1974, this study sets out to examine the meaning of economic union and its relationship with monetary union. The contributors look at the problems and costs for attaining economic union for the member states of the EEC at the time. Steven Robson writes on economic management. Paul Woolley examines the integration of capital markets. Santosh Mukherjee looks at the implications of labour market policy. Geoffrey Denton and Adam Ridley consider the impact of economic and monetary union on regional problems. Alan Prest is concerned with tax harmonisation specifically Value Added Tax and Corporation Tax and Douglas Dosser discusses the development of a European Community budget. Though the long-term benefits of EMU were clear, in the short term it would impose strains and pressures on national economies and particular sectors within them. This study goes a long way to clarifying where these difficulties would arise and suggests some ways of coping with them.
Author: D.E. Fair Publisher: Springer Science & Business Media ISBN: 9401126283 Category : Business & Economics Languages : en Pages : 437
Book Description
The papers collected in this volume are those presented at the sixteenth Colloquium arranged by the Societe Universitaire Europeenne de Re cherches Financieres (SUERF), which took place in Lisbon in May 1991. The Society is supported by a large number of central banks and commer cial banks, by other financial and business institutions, and by personal subscriptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Developments in Banking' and at Strasbourg, France in January 1972 under the title 'Aspects of European Monetary Union'.
Author: Michael Emerson Publisher: ISBN: 9780198773245 Category : Business & Economics Languages : en Pages : 356
Book Description
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Author: Jürgen von Hagen Publisher: ISBN: Category : Euro Languages : en Pages : 36
Book Description
Recoge: 1. Introduction - 2. The fiscal dominance case for the SGP - 3. What do national governments do with their fiscal policies? - 4. Mutual insurance via transfers - 5. Institutional requirements for a transer system - 6. Conclusions reform - 9. Conclusions.
Author: Mr.Francesco P. Mongelli
Author: Mr.Francesco P. Mongelli
Author: Francesco Paolo Mongelli
Author: Mr.Francesco P. Mongelli
Author: Mark Baimbridge
Author: Geoffrey Denton
Author: D.E. Fair
Author: Michael Emerson
Author: Geoffrey R. Denton
Author: Paul R. Masson
Author: Jürgen von Hagen