Will Fiscal Policy Be Effective Under EMU? /
European Economic and Monetary Union does not envisage creating a central fiscal authority. Monetary and exchange rate policies will be centralized, but fiscal policy will remain a national responsibility, in line with the subsidiarity principle. This paper argues that monetary union will generate p...
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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
1998.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 1998/176 |
| 在線閱讀: | Full text available on IMF |