Implementation of harmonized fiscal policy on the EU member states

undergraduate thesis

• Author: Mateja Hodak
• Mentor: Šime Smolić (mentor)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2015-09-14, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

The European Union is characterized with centralized monetary policy and decentralized
fiscal policy. In the time when the EU was created and when the euro was introduced as a
single currency this seemed like a good solution. All the countries in the euro area shared
common monetary policy and in the same time were not willing to give up of the authority
regarding conduction of their national fiscal policies, especially in levying taxes. Due to that,
fiscal policy was coordinated first by the Maastricht convergence criteria and later on with the
main Stability and Growth Pact and the reforms of the same. However, in the time of crisis it
was shown monetary and fiscal policy are not coordinated which led to even deeper crisis.
Not much was left for the EU countries to overcome the crisis and problems with debt and
deficit, especially in those who had the euro as the main currency. They had the find new
ways of dealing with the situation. In this paper the progress of common fiscal policy in the
EU will be shown, all its advantages and disadvantages, as well as the future steps.

• Keywords: fiskalna politika; monetarna politika; EU; Europska unija; euro zona; kriza
• Language: english
• URN:NBN: urn:nbn:hr:148:562115
• Study programme: Title: Business Economics in English; Study programme type: university; Study level: undergraduate; Academic / professional title: sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije (sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Public note: Ključne riječi dodijelio knjižničar.
• Created on: 2016-02-23 12:53:16