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The Euro Zone – between Fiscal Heterogeneity and Monetary Unity

Transylvanian Review of Administrative Sciences

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Title The Euro Zone – between Fiscal Heterogeneity and Monetary Unity
 
Creator DAN, Horaţiu; Assistant Professor, PhD, Faculty of European Studies, Babeș- Bolyai University, Cluj-Napoca, Romania
 
Subject Euro Zone, fiscal policy, monetary policy, fiscal discipline
 
Description In a period in which the functioning of the Euro Zone has generated intense debate, this paper aims at providing a detailed view on one of the main characteristics defining the single currency area: the dichotomy between a unique monetary policy and an almost complete lack of fiscal integration. After analyzing the relationship between fiscal and monetary policies, we iden- tify within the European construction a series of weak points generated by a highly hetero- geneous fiscal environment, arguing that these deficiencies need to be swiftly addressed. Last but not least, we set forth potential solutions that would promote Euro Zone fiscal discipline and would help eliminate asymmetric shocks, thus creating a more uniform economic environment in which Member States enjoy an increased fi- nancial health and in which monetary policy can be more efficiently conducted. 
 
Publisher Babes Bolyai University
 
Contributor —
 
Date 2014-11-04
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://rtsa.ro/tras/index.php/tras/article/view/4
 
Source Transylvanian Review of Administrative Sciences; 2014: Issue No. 43 E/October; 68-84
1842-2845
 
Language eng
 
Relation http://rtsa.ro/tras/index.php/tras/article/view/4/4
 
Rights Copyright (c) 2014 Transylvanian Review of Administrative Sciences