Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299666 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 2019.02
Publisher: 
European Trade Union Institute (ETUI), Brussels
Abstract: 
This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto dysfunctional, euro regime. The paper argues that common, rather than asymmetrical, shocks are the norm in the euro area and that the euro's institutions are seriously deficient in dealing with area-wide recession and systemic financial crises.
Subjects: 
economic integration
European Integration
fiscal policy
euro zone
USA
Document Type: 
Working Paper

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