Fiscal Policy and Growth in the Context of European Integration

July 1, 2000

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Format: Chicago

Paul R Masson. Fiscal Policy and Growth in the Context of European Integration, (USA: International Monetary Fund, 2000) accessed December 26, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of scale not captured at the national level. These may include spending on research and development and transportation or knowledge networks, and harmonization of social security designed to enhance labor mobility. EU-wide stabilization policy or enhanced EU redistribution does not seem justified, however.

Subject: Expenditure, Fiscal policy, Income, Labor, National accounts, Pensions

Keywords: EU budget, EU country, EU financing, EU fiscal policy, EU government, EU government relationship, EU institution, Europe, European Union, Fiscal federalism, Government program, Income, Pensions, Social security, Tax competition, WP

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2000/133
Stock No:

WPIEA1332000
ISBN:

9781451855487
ISSN:

1018-5941

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