{"product_id":"economic-and-monetary-union-with-fiscal-federalism-von-paulo-vila-maior","title":"Economic and Monetary Union with Fiscal Federalism","description":"\u003cp\u003eMany economists argued that Economic and Monetary Union  (EMU) is flawed for the absence of ¿conventional fiscal federalism''.  They claim that the political-economic rationale of EMU ruled out  national mechanisms of adjustment, exposing fragile member  states to economic shocks. This, in turn, reinforces the case for  ¿conventional fiscal federalism'' in the European Union (EU). The  book engages on a comparative exercise between the EU and five  federations where fiscal federalism is key to their political- economic organisation. To that purpose, three analytical  dimensions of fiscal policy are tested on the centralisation- decentralisation spectrum: resource allocation, redistribution and  macroeconomic stabilisation. The uniqueness of the EU is the  independent variable in the comparative analysis. It is, at the  same time, the major obstacle to the political feasibility of  ¿conventional fiscal federalism'' in the EU context. To this extent,  the book should be useful to students of European integration in  general, especially to those working on the political economy of  EMU, and to students of federalism.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838308319\"\u003e\u003ch3\u003eBetween Desirability and Feasibility\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838308319","offer_id":39469142507613,"sku":"9783838308319","price":79.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/536cd4c7-2001-4f40-a373-5617d894a2e1.jpg?v=1776055242","url":"https:\/\/shop.autorenwelt.de\/products\/economic-and-monetary-union-with-fiscal-federalism-von-paulo-vila-maior","provider":"Autorenwelt Shop","version":"1.0","type":"link"}