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141211s2014 dcua ob i000 0 eng d |
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20240507170143.7 |
| 029 |
1 |
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|a NZ1
|b 15851898
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| 035 |
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|a (OCoLC)wbokr898041520
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| 035 |
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|a (OCoLC)898041520
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| 040 |
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|a DJB
|b eng
|c DJB
|d CUS
|d OCLCO
|d OCLCQ
|d CAUOI
|d OCLCQ
|d OCLCA
|d OCLCQ
|d OCLCF
|d CEF
|d OCLCQ
|d WYU
|d OCLCQ
|d OCLCO
|d OCLCQ
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| 049 |
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|a GWRE
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| 050 |
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4 |
|a HG3881.5.W57
|b P63 No. 7130eb
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| 100 |
1 |
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|a Karayalcin, Cem.
|0 http://id.loc.gov/authorities/names/no2014164020
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| 245 |
1 |
0 |
|a Incomplete integration and contagion of debt distress in economic unions
|h [electronic resource] /
|c Cem Karayalcin and Harun Onder.
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| 260 |
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|a [Washington, D.C.] :
|b World Bank,
|c ©2014.
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| 300 |
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|a 1 online resource (28 pages) :
|b color illustrations.
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| 336 |
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|a text
|b txt
|2 rdacontent
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| 337 |
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|a computer
|b c
|2 rdamedia
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| 338 |
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|a online resource
|b cr
|2 rdacarrier
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| 490 |
1 |
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|a Policy research working paper ;
|v 7130
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| 500 |
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|a "December 2014."
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| 500 |
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|a "World Bank Group, Macroeconomics and Fiscal Management Global Practice Group."
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| 504 |
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|a Includes bibliographical references (pages 24-25).
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| 520 |
3 |
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|a This paper compares different fiscal integration schemes on the basis of their ability to finance public investments and resilience to debt distress and contagion. Complete integration schemes, where a central authority chooses the level of public investments with productivity-enhancing externalities across different jurisdictions, are shown to be superior to incomplete integration schemes, where member governments choose public investments unilaterally. As a result, equilibrium income is greater for citizens of member states under a complete integration scheme. Moreover, complete integration schemes are shown to be more resilient to idiosyncratic shocks and more effective in limiting contagion of debt distress. This is mainly because the central authority can credibly borrow more without risking default than member states taken together can and it can "transfer resilience" across them if needed. These findings inform discussions on structural aspects of secular stagnation in Europe by emphasizing a potential challenge in the institutional design of fiscal responsibilities.
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| 588 |
0 |
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|a Online resource; title from pdf title page (World Bank.org Web site, viewed December 11, 2014).
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| 650 |
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0 |
|a International economic integration
|x Econometric models.
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| 650 |
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0 |
|a Fiscal policy
|x Econometric models.
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| 650 |
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0 |
|a Public investments
|x Econometric models.
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| 650 |
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0 |
|a Debts, Public
|x Management
|x Econometric models.
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| 650 |
|
7 |
|a Fiscal policy
|x Econometric models.
|2 fast
|0 (OCoLC)fst00925810
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| 650 |
|
7 |
|a International economic integration
|x Econometric models.
|2 fast
|0 (OCoLC)fst00976881
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| 650 |
|
7 |
|a Public investments
|x Econometric models.
|2 fast
|0 (OCoLC)fst01082549
|
| 700 |
1 |
|
|a Onder, Harun.
|0 http://id.loc.gov/authorities/names/no2014021638
|1 http://isni.org/isni/0000000419067264
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| 710 |
2 |
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|a World Bank.
|b Macroeconomics and Fiscal Management Global Practice Group.
|0 http://id.loc.gov/authorities/names/no2014120582
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| 856 |
4 |
0 |
|u https://openknowledge.worldbank.org/handle/10986/20700
|z Full Text (via Open Knowledge Repository)
|
| 830 |
|
0 |
|a Policy research working papers ;
|v 7130.
|0 http://id.loc.gov/authorities/names/n92033588
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| 915 |
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|a -
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| 944 |
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|a MARS - RDA ENRICHED
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| 956 |
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|a World Bank Open Knowledge
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| 956 |
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|b World Bank Group: Open Knowledge Repository
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| 994 |
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|a 92
|b COD
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| 998 |
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|b New collection global.5644.245
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| 999 |
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|s 713effbd-291a-4fba-a290-063673a58a27
|i d3bdd8ca-47bb-4770-b3e7-27c7f3c58dd7
|
| 952 |
f |
f |
|p Can circulate
|a University of Colorado Boulder
|b Online
|c Online
|d Online
|e HG3881.5.W57 P63 No. 7130eb
|h Library of Congress classification
|i web
|
