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Establishing a fiscal dialogue in Europe

Abstract : In this contribution, I use the Fiscal theory of the price level as a backdrop for a discussion on the risks that expansionary fiscal policies may pose on debt sustainability. I recall that a regime of fiscal dominance does not lead to macroeconomic instability. I also review a few empirical papers on fiscal sustainability and I conclude, also based upon own estimates, that it is not a major concern, at least in the short to mid-run. Finally, I argue that Europeans should continue on the fiscal impetus they contributed to in 2020 by fostering coordination and transparency on EU fiscal policies. To achieve this objective, I revisit the idea of an enhanced dialogue on fiscal matters at the European Parliament and propose to establish a Fiscal Dialogue with the EU Member States.
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https://hal-sciencespo.archives-ouvertes.fr/hal-03363670
Contributor : Élisabeth Wolff-Maussion Connect in order to contact the contributor
Submitted on : Monday, October 4, 2021 - 10:24:17 AM
Last modification on : Friday, October 8, 2021 - 8:50:55 AM

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Jérôme Creel. Establishing a fiscal dialogue in Europe. 2021. ⟨hal-03363670⟩

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