Elastyczność polityki fiskalnej w unii walutowej

• Authors: Młodkowski Paweł

Title variants

EN

Fiscal policy flexibility in a currency union

• Languages of publication: PL

Abstracts

EN

The discussion of the need to formally coordinate fiscal policies in monetary union member countries lacks a framework to assess the feasibility of different limits and requirements imposed on public finance at the member-country level. The main argument raised by opponents to a multilateral supervision is that it allows for no flexibility in conducting fiscal policy. A lack of this flexibility makes a response to asymmetric shocks impossible and increases differences in business cycle phases among monetary union member countries. This paper offers a framework to assess and compare fiscal policy flexibility under a variety of different fiscal constraints and their levels.

Keywords

PL

integracja monetarna; elastyczność polityki monetarnej; kryteria konwergencji fiskalnej

EN

monetary integration; fiscal policy flexibility; fiscal convergence criteria

• Publisher: Polska Akademia Nauk
• Journal: Folia Oeconomica Cracoviensia
• Year: 2007
• Volume: 48
• Pages: 25-46

Contributors

author

Młodkowski Paweł

• Wyższa Szkoła Biznesu — National Louis University