Effects Of The European Economic And Monetary Union Emu On Taxation And Interest Spending Of National Governments PDF Download
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Author | : Mr.Francesco P. Mongelli |
Publisher | : International Monetary Fund |
Total Pages | : 37 |
Release | : 1997-07-01 |
Genre | : Business & Economics |
ISBN | : 1451951272 |
Download Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments Book in PDF, ePub and Kindle
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 | : |
Total Pages | : 36 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download Effects of the European Economic and Monetary Union (Emu) on Taxation and Interest Spending of National Governments Book in PDF, ePub and Kindle
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 |
Total Pages | : 47 |
Release | : 1996-07-01 |
Genre | : Business & Economics |
ISBN | : 145184929X |
Download The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability Book in PDF, ePub and Kindle
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 |
Total Pages | : 235 |
Release | : 2005-06-28 |
Genre | : Business & Economics |
ISBN | : 1134538758 |
Download Fiscal Federalism and European Economic Integration Book in PDF, ePub and Kindle
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 | : Mr.Vito Tanzi |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 1998-08-01 |
Genre | : Business & Economics |
ISBN | : 1451943016 |
Download Consequences of the Economic and Monetary Union for the Coordination of Tax Systems in the European Union Book in PDF, ePub and Kindle
With the advent of the economic and monetary union in the European Union (EU), the economic landscape of the EU will bear a striking resemblance to that of the United States in terms of fundamental attributes such as the freedom of internal movements of individuals, capital, and goods within the union, as well as the adoption of a common currency. This paper examines developments in the tax systems of the states in the United States and draws lessons for the need of coordination of EU tax systems.
Author | : Geoffrey Denton |
Publisher | : Taylor & Francis |
Total Pages | : 129 |
Release | : 2022-02-16 |
Genre | : Business & Economics |
ISBN | : 1000549658 |
Download Economic and Monetary Union in Europe Book in PDF, ePub and Kindle
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 |
Total Pages | : 437 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9401126283 |
Download Fiscal Policy, Taxation and the Financial System in an Increasingly Integrated Europe Book in PDF, ePub and Kindle
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 | : Hubert Ooghe |
Publisher | : Springer Science & Business Media |
Total Pages | : 441 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1461513839 |
Download The Economic and Business Consequences of the EMU Book in PDF, ePub and Kindle
The Economic and Business Consequences of the EMU A Challenge for Governments, Financial Institutions and Firms Hubert Ooghe Conference Chairman, Vlerick Leuven Gent Management School alld Ghent University EMU finally got under way on 1 st January 1999. Since then 11 European countries share a common currency, the Euro, and pursue a common monetary policy managed by the European Central Bank (ECB). After forty years of economic integration, Euroland has the wherewithal with which to enter the 21 st century. However monetary union has implications for nearly all areas of economic activity and decision-making. Throughout the academic world researchers are fully occupied with the theoretical analysis of the impact of the Euro and the effects of incorporating the new operational framework into their economic models. Businesses and government departments are concerned primarily with the practical implementation of the single currency. For all those who playa part in the economy, it is a question of making the most of the macro and micro economic opportunities offered by the Euro and minimising any threats. On 17th and 18th March 2000, after the EMU and Euro were in operation for one year, an international conference was held in Ghent (Belgium) on the economic consequences of the introduction of the EMU and the Euro for governments, financial institutions and firms.
Author | : Amy Verdun |
Publisher | : |
Total Pages | : 0 |
Release | : 2007 |
Genre | : Euro area |
ISBN | : 9781600219085 |
Download Political and Economic Consequences of Economic and Monetary Union Book in PDF, ePub and Kindle
With the creation of Economic and Monetary Union (EMU) in the European Union (EU), now eight years ago, it is time to start to look back and reflect on the time that has passed and the challenges and opportunities that lie ahead. Created on 1 January 1999 with banknotes and coins introduced into the marketplace on 1st of January 2002 EMU has been heralded by many as an unprecedented success of economic and monetary integration. Many have focused on the sheer size of the project: twelve European Union member states introduced banknotes and coins in 2002 as legal tender replacing their previous national currencies, many of which had been around for centuries. As of 1st of January 2007 Slovenia is the newest country to join. Another remarkable feat was the fact that a new European Central Bank (ECB) was created to formulate a single monetary policy for the eurozone. At the same time EMU leaves responsibility for budgetary and fiscal policies to national governments who still decide the level of expenditure and of
Author | : J. Ferreiro |
Publisher | : Springer |
Total Pages | : 235 |
Release | : 2008-11-27 |
Genre | : Business & Economics |
ISBN | : 0230228267 |
Download Fiscal Policy in the European Union Book in PDF, ePub and Kindle
This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.