Fiscal Compatibility and Monetary Constitution

Tommaso Padoa‐Schioppa

in The Road to Monetary Union in Europe

Published in print December 2000 | ISBN: 9780199241767
Published online November 2003 | e-ISBN: 9780191596742 | DOI:
Fiscal Compatibility and Monetary Constitution

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The issue is discussed of how much fiscal union (fiscal discipline and coordination) is needed among member countries’ budgets to ensure European Monetary Union. Aspects of the question addressed include budget deficits and European monetary policy, the distributive problem, the functions of the European Central Bank (ECB), and the coordination of fiscal policies.

Keywords: budget deficits; EMU; European Central Bank; European Monetary Union; fiscal compatibility; fiscal policy; fiscal union; monetary policy

Chapter.  7073 words. 

Subjects: Macroeconomics and Monetary Economics

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