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Book chapters (2001), Global Financial Markets at the Turn of the Century, Pergamon, pp. 11-26

European Monetary Union: The Case for Fiscal Coordination

In this chapter, we analyze the fiscal coordination issue in the Economic and Monetary Union. We show that in the absence of fiscal coordination, the resulting Nash equilibrium could lead to excessive public deficits.

FOURÇANS, A. and VRANCEANU, R. (2001). European Monetary Union: The Case for Fiscal Coordination. In: Global Financial Markets at the Turn of the Century. 1st ed. Pergamon, pp. 11-26.