Transfery fiskalne a przeciwdziałanie szokom asymetrycznym w ramach Unii Gospodarczo-Walutowej w Europie
Fiscal transfers as asymmetric shocks absorption mechanisms in the European Monetary Union

Summary/Abstract: Eurozone lacks the mechanisms to cope with the consequences of the asymmetric shocks. The European transfer mechanism would provide the EMU members with some degree of stabilization in substitution for the loss of the adjustment mechanisms. The last financial crisis shows the need of setting up an explicit solidarity mechanism because the survival of the Eurozone depends to a large extent on its capacity to embed itself into a political union.

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