Fiscal Policy in Economic and Monetary Union

Theory, Evidence and Institutions

Marco Buti, Director of the Economies of the Member States, European Commission and Daniele Franco, Director, Public Finance Division, Research Department, Bank of Italy

This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU’s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature.

‘The book has many merits, and represents an important contribution to the controversial topic of European fiscal policy. I appreciated in particular the high quality and rigor of the analysis and the fact that the pros and cons of the contending opinions are presented in a fair way. It is a rewarding reading.’
– EAEPE Newsletter

‘Buti and Franco present a series of interesting analytical information which should be read by as broad an audience as possible. . . the book is a good buy.’
– László Csaba, Acta Oeconomica