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Fiscal federalism and European monetary integration
(15.01.1992)
Bank of Finland Research Discussion Papers 2/1992
Bank of Finland Research Discussion Papers 2/1992
The paper considers the role common fiscal arrangements might have to play in the operation of a European monetary union. In the first part of the study, we characterize an international fiscal incentive scheme which could ...
Whether to join EMS or not : Signalling and the membership
(29.05.1990)
Bank of Finland Research Discussion Papers 9/1990
Bank of Finland Research Discussion Papers 9/1990
It is argued that if in a dynamic context a central bank wants to signal its commitment to non-inflationary policies an EMS membership makes its task easier by requiring less restrictive policies than if it stays outo ...