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Integration of the fiscal policy of nations or states
Fiscal union is the integration of the fiscal policy of nations or states. In a fiscal union, decisions about the collection and expenditure of taxes are
Fiscal_union
Use of government revenue collection and expenditure to influence a country's economy
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's
Fiscal_policy
Intergovernmental treaty
and Governance in the Economic and Monetary Union; also referred to as TSCG, or more plainly the Fiscal Stability Treaty is an intergovernmental treaty
European_Fiscal_Compact
Process of integration of states in and around Europe
experts who specialise in the European Union believe a fiscal union is Utopian. If both are right a fiscal union is simultaneously necessary and impossible
European_integration
Economic union and policies
and constructing a capital markets union. Fiscal union: Ensuring sound and integrated fiscal policies Political Union: Enhancing democratic accountability
Economic and Monetary Union of the European Union
Economic_and_Monetary_Union_of_the_European_Union
Activity for which payment is due
companies, and so on. Public services are those that society (nation state, fiscal union or region) as a whole pays for, such as hospitals, elementary schools
Service_(economics)
Institutions of localized monetary exchange
Fiscal localism comprises institutions of localized monetary exchange. Sometimes considered a backlash against global capitalism or economic globalization
Fiscal_localism
Unification of policies between states
capital and labor. An "economic union" combines customs union with a common market. A "fiscal union" introduces a shared fiscal and budgetary policy. In order
Economic_integration
Financial plan where revenues equal expenses
provide fiscal stimulus in lean times, while budget surpluses provide restraint in boom times. Keynesian economics does not advocate for fiscal stimulus
Balanced_budget
Proposals to resolve the 2009/10 debt crisis
without the assistance of third parties. The solutions range from tighter fiscal union, the issuing of Eurozone bonds to debt write-offs, each of which has
Proposed long-term solutions for the euro area crisis
Proposed_long-term_solutions_for_the_euro_area_crisis
Failure to accurately perceive the amount of government expenditure
public choice theory, fiscal illusion is a failure to accurately perceive the amount of government expenditure. The theory of fiscal illusion was first developed
Fiscal_illusion
Process of Australian unification
federation entailed the creation of both a customs and a fiscal union. With respect to the customs union, tariffs were abolished on interstate trade (although
Federation_of_Australia
Subfield of public economics
As a subfield of public economics, fiscal federalism is concerned with "understanding which functions and instruments are best centralized and which are
Fiscal_federalism
Economic philosophy and theory
Fiscalism is a term sometimes used to refer the economic theory that the government should rely on fiscal policy as the main instrument of macroeconomic
Fiscalism
State-owned investment fund
nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that
Sovereign_wealth_fund
Dutch economist and central banker (born 1970)
Groningen with a dissertation titled Does European Monetary Union require a fiscal union? Some evidence from the United States, under the supervision
Olaf_Sleijpen
Tax policy
measures that lead to a higher level of fiscal convergence, the ultimate goal being the formation of a fiscal union. Tax harmonization doesn't automatically
Tax_harmonization
Trade bloc with a common tariff and currency
[2007], ‘Fiscal leadership and coordination in the EMU’, in: ‘Open Economies Review’, 18(3): 281–9. Bergin, Paul (2008). "Monetary Union". In David
Economic_and_monetary_union
Trading bloc with no internal barriers and common policies on regulation and trade
An economic union is a type of trade bloc which is composed of a common market with a customs union. The participant countries have both common policies
Economic_union
processes of fiscal adjustment during the 1990s, in order to match the Maastricht criteria and to accede to the Economic and Monetary Union (EMU). The treaty
Fiscal_adjustment
Difference between revenues and spending
to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending. For
Government_budget_balance
distribution of collected income among the citizenry. Similar to the fiscal union concept, such integration of social welfare policy theoretically follows
Social_union
Area in which the euro is the official currency
finance ministers that makes fiscal policy for the currency union, and the European System of Central Banks is responsible for fiscal and monetary cooperation
Eurozone
Political and economic philosophy
political theory, fiscal conservatism or economic conservatism is a political and economic philosophy regarding fiscal policy and fiscal responsibility with
Fiscal_conservatism
Agreement involving states sharing a single currency
conservatism and fiscal coordination in a monetary union’, in: ‘Economics Letters’, 94(1): 56–63. Bergin, Paul (2008). "Monetary Union". In David R. Henderson
Currency_union
Multi-year debt crisis in multiple EU countries, 2009–2010
Merkel vows to create 'fiscal union' across eurozone". The Guardian. London. Retrieved 2 December 2011. "European fiscal union: what the experts say"
Eurozone_crisis
Supranational political and economic union
The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. A supranational union with a total
European_Union
Monetary policy tool
and directly benefits exporters and export industries in the country. Fiscal effect By lowering yields on sovereign bonds, QE makes it cheaper for governments
Quantitative_easing
Method to record government financial activities
accounting provides a less accurate measure of the government's borrowing and fiscal stimulus to the economy compared to a cash-accounting deficit/surplus; and
Accrual accounting in the public sector
Accrual_accounting_in_the_public_sector
Type of trade bloc with a free trade area and common external tariff
customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff. Customs unions are established
Customs_union
area. Note that every customs union, common market, economic union, customs and monetary union and economic and monetary union is also a free trade area,
List of bilateral free trade agreements
List_of_bilateral_free_trade_agreements
EU economic governance
imbalances inside the monetary union. A step towards increased fiscal discipline of member States of the European Union was taken on 23 November 2011,
Sixpack_(EU_law)
Wide ranging taxes, tariff and trade treaty
union (EMU)–Economic union with Currency Union Fiscal union–common coordination of substantial parts of the fiscal policies (proposed step between EMU and
Trade_agreement
Spending in excess of revenue
Growth Pact of the European Monetary Union punishes government deficits of 3% of GDP or greater. Proponents of fiscal conservatism date back to Adam Smith
Deficit_spending
Political party in Germany
establish a fiscal union within the European Union. The Liberal Democrats favour the European Union and demand to further deepen the Union. To do so, they
Liberal_Democrats_(Germany)
American healthcare workers' labor union
trusteeship by the Service Employees International Union (SEIU). In its annual filing for fiscal year 2025, NUHW reported 18,752 members to the Office
National Union of Healthcare Workers
National_Union_of_Healthcare_Workers
Index of politics with the same name
a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an
Ministry_of_finance
In 1975, New York City had a severe fiscal crisis after accumulating $14 billion of debt, of which $6 billion was short-term debt. The city ran out of
1975 New York City fiscal crisis
1975_New_York_City_fiscal_crisis
Defunct British political party
policies, which they viewed as an insufficient answer to their demands for "fiscal union of the Empire" (with stiff barriers against goods from rival trade blocs)
Empire_Free_Trade_Crusade
Multinational alliance with common trade and currency policies
A customs and monetary union is a type of trade bloc which is composed of a customs union and a currency union. The participant countries have both common
Customs_and_monetary_union
European policy
website of CEPR) in December 2011. It paralleled the earlier advocacy of fiscal union by various observers and policymakers in the same context, especially
European_banking_union
Independent advisory body of the European Commission
development of the European Union's fiscal framework. It evaluates how the framework has been applied, advises on the overall fiscal stance of the eurozone
European_Fiscal_Board
Government attempts to run a budget in equity or in surplus
is to reduce the public debt. It is not the same as a fiscal policy, which deals with the fiscal stimulus to the economy, the repartition of taxes and
Budgetary_policy
German journalist and historian
"As long as the fundamental structural asymmetry of a monetary union without a fiscal union is ignored, the Europe of Robert Schumann and Jean Monnet is
John_F._Jungclaussen
Public prosecutor in Scotland
A procurator fiscal (pl. procurators fiscal), sometimes called PF or fiscal (Scottish Gaelic: Neach-casaid a' Chrùin), is a public prosecutor in Scotland
Procurator_fiscal
Type of government spending
implemented through an appropriations bill. This spending is an optional part of fiscal policy, in contrast to social programs for which funding is mandatory and
Discretionary_spending
Theoretical economic and monetary union
blamed the Eurozone crisis partly on a lack of effective fiscal union. The Budget of the European Union is relatively small compared to the budgets of the Eurozone
North_American_monetary_union
Central bank of Hungary
policy, but central bank leaders criticized this plan, saying that the fiscal austerity requirements would slow growth. In December 2011 two of the three
Hungarian_National_Bank
Person or organization subject to pay a tax
Willmott, Kyle. "Taxes, taxpayers, and settler colonialism: Toward a critical fiscal sociology of tax as white property." Law & Society Review 56.1 (2022): 6-27
Taxpayer
How the state collects money
components of the government budget and important tools of the government's fiscal policy. The collection of revenue is the most basic task of a government
Government_revenue
Measure of money supply
multiplier, the monetary base can be thought of as high powered because of the fiscal multiplier instead. Monetary policy is generally presumed to be the policy
Monetary_base
Type of government bond jointly issued by eurozone countries
2011. Baker, Luke (9 December 2011). "WRAPUP 5-Europe moves ahead with fiscal union, UK isolated". Reuters. Retrieved 9 December 2011. "European Council
Eurobond_(eurozone)
Species of bird
The southern fiscal or fiscal shrike (Lanius collaris) is a member of the shrike family found through most of southern Africa. It is also sometimes named
Southern_fiscal
Debt owed by the government sector in Canada
(central), plus provincial, territorial and local governments – in the fiscal year 2024/25 (which ended 31 March 2025). As a ratio of GDP, gross debt
Canadian_public_debt
Europe by their consolidated fiscal balance as a percentage of Gross domestic product, including an average for the European Union. List of sovereign states
List of European countries by fiscal balance
List_of_European_countries_by_fiscal_balance
Centre-right political party in Germany
The Christian Democratic Union of Germany (German: Christlich Demokratische Union Deutschlands [ˈkʁɪstlɪç demoˈkʁaːtɪʃə ʔuˈni̯oːn ˈdɔʏtʃlants], CDU [ˌtseːdeːˈʔuː]
Christian Democratic Union of Germany
Christian_Democratic_Union_of_Germany
Economic theory by Adolph Wagner
1023/A:1005032817804. Wagner, Richard E.; Weber, Warren E. (March 1977). "Wagner's Law, Fiscal Institutions, and the Growth of Government". National Tax Journal. 30 (1):
Wagner's_law
Total amount of debt owed to lenders by a government/state
government revenue flows. Taking debt can allow governments to conduct fiscal policy more effectively, avoid tax increases, and making investments with
Government_debt
euro system, the theory is that there is a monetary union (common currency) without a fiscal union (e.g., common taxation, pension, and treasury functions)
Causes of the euro area crisis
Causes_of_the_euro_area_crisis
European Union institution
The EU Independent Fiscal Institutions Network (EU IFIs) is a voluntary and inclusive institution open to all independent fiscal oversight bodies operating
EU Independent Fiscal Institutions Network
EU_Independent_Fiscal_Institutions_Network
United States federal law
disarmament efforts with the former Soviet Union. The Act, better known as the National Defense Authorization Act for Fiscal Year 1993, provided legislative authority
Former Soviet Union Demilitarization Act of 1992
Former_Soviet_Union_Demilitarization_Act_of_1992
Act of the Parliament of India
both at the Union and the state levels under the statement of objects and reasons. Secondly, it sought to introduce the fundamentals of fiscal discipline
Fiscal Responsibility and Budget Management Act, 2003
Fiscal_Responsibility_and_Budget_Management_Act,_2003
Study of the role of government within the economy
governments to smooth tax burdens over time and gives governments an important fiscal policy tool. Deficits can also narrow the options of successor governments
Public_finance
Political response to an economic event
'fiscal union' across eurozone". The Guardian. London. Archived from the original on 11 April 2019. Retrieved 2 December 2011. "European fiscal union:
Policy reactions to the euro area crisis
Policy_reactions_to_the_euro_area_crisis
Budget of the Russian federal government
the budget system of Russia. It is a major state financial plan for the fiscal year, which has the force of law after its approval by the Russian parliament
Federal_budget_of_Russia
Policy of interest rates or money supply
exchange rates and prices of financial assets. This is in contrast to fiscal policy, which relies on changes in taxation and government spending as methods
Monetary_policy
Government spending on certain programs that are required by law
spending, and interest on debt. Also known as entitlement spending, in US fiscal policy, mandatory spending is government spending on certain programs that
Mandatory_spending
How a government collects money other than through compulsory levies
Reut, Adriana (7 June 2018). "Non-tax revenue in the European Union: A source of fiscal risk?". Policy Watch. 26: 198–223. Ossowski, Rolando; Gonzáles
Non-tax_revenue
Group of companies that replaced Japanese National Railways
trips in fiscal 2000 and 9,503,181 thousand in fiscal 2019. The total was 6,706,603 thousand in fiscal 2020 and 8,672,626 thousand in fiscal 2024. Annual
Japan_Railways_Group
Financial penalties applied by nations
On the producer side, Grebennikov describes how Russia has adjusted its fiscal rules by applying a fixed Urals discount in tax calculations. This cushions
Economic_sanctions
Constitutional provision
expenditures of the government, and the balance requirement may be for each fiscal year or over a multi-year period. Balanced-budget provisions have been added
Balanced_budget_amendment
Fiscal sustainability, or public finance sustainability, is the ability of a government to sustain its current spending, tax and other policies in the
Fiscal_sustainability
Combination of a country's monetary and fiscal policy
The policy mix is the combination of a country's monetary policy and fiscal policy. These two channels influence features such as economic growth and employment
Policy_mix
Movements to amend the financial system
political pressures The need for alternative monetary frameworks The role of fiscal-monetary coordination Monetary reform advocates often cite financial instability
Monetary_reform
Restraint to protect home or national industries from foreign competition
Liechtenstein used a safeguard measure in the EEA Agreement with the European Union to limit immigration from the EU until a more permanent agreement was put
Safeguard
Merkel vows to create 'fiscal union' across eurozone". The Guardian. London. Retrieved 2 December 2011. "European fiscal union: what the experts say"
Economic reforms and recovery proposals regarding the euro area crisis
Economic_reforms_and_recovery_proposals_regarding_the_euro_area_crisis
Species of bird
Ornithologists' Union. Retrieved 20 May 2016. "Fiscal Flycatcher". South African National Biodiversity Institute. 20 May 2018. Retrieved 5 September 2022. "Fiscal Flycatcher"
Fiscal_flycatcher
Swedish economist
University Press, 2015. Calmfors, Lars, The Roles of Fiscal Rules, Fiscal Councils and Fiscal Union in EU Integration, in Badinger, H. and Nitsch, V., eds
Lars_Calmfors
Government consumptions, investments, and transfer payments
budget Government waste Fiscal council Fiscal dominance Fiscal policy Sovereign wealth fund Mandatory spending Taxpayers unions Eurostat Government spending
Government_spending
Income collected by governments via tax
tax. Per capita income (PCI) is the most often used measure of relative fiscal capacity. But this measure fails to base tax capacity computation on other
Tax_revenue
Type of trade bloc
free trade areas, customs unions, common markets, economic unions, customs and monetary unions and economic and monetary unions are considered advanced
Preferential_trading_area
Country with high percentage of international trade commodity
Andrew Coyne described countries with free trade with both the European Union and the United States as a "select group" that includes Colombia, Israel
Trading_nation
Intergovernmental agreement
fiscal and economic governance, it is necessary to transfer sovereignty. Enhanced co-operation European sovereign debt crisis European Fiscal Union Treaty
Euro_Plus_Pact
Economic policy
London. Baker, Luke (2011-12-09). "WRAPUP 5-Europe moves ahead with fiscal union, UK isolated". Reuters. Retrieved 2011-12-09. "Exchange rate policy"
Fear_of_floating
Tax in the Roman Empire
Anastasius I throughout the Eastern Roman Empire in the year 498 as part of his fiscal and monetary reforms. In the Italian peninsula, then ruled by the Ostrogoths
Collatio_lustralis
Economic effect of customs unions
less efficient one by the formation of a free trade agreement or a customs union. Total cost of good becomes cheaper when trading within the agreement because
Trade_diversion
Australian-American economist (born 1954)
monetary union or more fiscal union." Sheard identifies the fundamental problem with the economic and political architecture of the European Union as being
Paul_Sheard
a customs union, which led to a common market, then monetary union, then union of monetary and fiscal policy, and eventually a full union characteristic
Law_of_the_European_Union
Spanish economist
European fiscal oversight bodies, such as Spain's Independent Authority for Fiscal Responsibility (2014–2020) and the European Union Independent Fiscal Institutions
José_Luis_Escrivá
Government's policy governing international trade
policy can sometimes be agreed by treaty within a customs union, as with the European Union's common commercial policy and in Mercosur. A nation's commercial
Commercial_policy
Ability of the United States government to tax and spend
Commission 2004 Election Results, Federal Election Commission (PDF) 2008 Election Results, Federal Election Commission America's Fiscal Union, The Economist
Federal taxation and spending by state
Federal_taxation_and_spending_by_state
Type of trade bloc with most trade barriers removed
easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent
Single_market
German economist (born 1968)
saying the European Monetary Union (EMU) "has to go in one of two directions. Either it takes the path of a fiscal union in which member countries fuse
Jens_Weidmann
Policies intended to encourage trade between nations
which increased the requirements for the speed release of goods by customs. Fiscal: Collection of customs duties, excise duties and other indirect taxes; payment
Trade_facilitation
German sociologist (1944–2015)
Spinelli Group initiative to reinvigorate federalism in the European Union. The Union of European Federalists and its youth organisation Young European Federalists
Ulrich_Beck
partners in terms of value are typically the United States, the European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa
List of countries by leading trade partners
List_of_countries_by_leading_trade_partners
Absence of government restriction on international trade
establishing a customs union between its member states. After expanding its membership, the EEC became the European Union in 1993. The European Union, now the world's
Free_trade
International development specialist
Elgar, 241-251. 2017: Re-Booting Europe: What kind of Fiscal Union – What kind of Social Union (with Willi Semmler), in: Saving the EURO – Redesigning
Brigitte_Young
Economic effect of customs unions
flows are redirected due to the formation of a free trade area or a customs union. The issue was firstly brought into discussion by Jacob Viner (1950), together
Trade_creation
Economic transaction that advances the economic interests of both parties
agents of the citizen—government legislators and administrators—implement fiscal policy where tax assessment to the citizen is related, substantially, to
Rational_economic_exchange
travel, tourism, insurance
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travel, tourism, insurance