Author/Editor: Nathaniel G Arnold, Ravi Balakrishnan, Bergljot B Barkbu, Hamid R Davoodi, Andresa Lagerborg, Waikei R Lam, Paulo A Medas, Julia Otten, Louise Rabier, Christiane Roehler, Asghar Shahmoradi, Mariano Spector, Sebastian Weber, Jeromin Zettelmeyer.

Release Date:September, 2022

The EU's fiscal framework needs reform. While existing fiscal rules have had some impact in constraining deficits, they did not prevent deficits and debt ratios that have threatened the stability of more...

Author/Editor: Nathaniel G Arnold, Bergljot B Barkbu, H Elif Ture, Hou Wang, Jiaxiong Yao.

Release Date:March, 2018

This note outlines a concrete proposal for a euro area central fiscal capacity (CFC) that could help smooth both country-specific and common shocks. Specifically, it proposes a macroeconomic more...