Designing a European Fiscal Union by Carlo Cottarelli, Martin... - 9780367669119

Designing a European Fiscal UnionLessons from the Experience of Fiscal Federations\nAuthor(s): Carlo Cottarelli, Martine Guerguil\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9780367669119, 978-0367669119\nSynopsis\nDoes the European Union need closer fiscal integration, and in particular a stronger fiscal centre, to become more resilient to economic shocks? This book looks at the experience of 13 federal states to help inform the heated debate on this issue. It analyses in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and draws lessons for a possible future fiscal union in Europe.\n\nMore specifically, this book tries to answer three sets of questions: What is the role of centralized fiscal policies in federations, and hence the size, features and functions of the central budget? What institutional arrangements are used to coordinat.