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|z 9781451951271
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|a 1018-5941
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|a Mongelli, Francesco.
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|a Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments /
|c Francesco Mongelli.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (36 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1997/093
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/093/001.1997.issue-093-en.xml
|z IMF e-Library
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