This book is geared towards an assessment of fiscal policy
coordination in the European Economic and Monetary Union (EMU). I
essentially investigate the question which major flaws of the
coordination arrangements and the institutional architecture of the
EMU have been contributing to the Eurozone crisis. To that end, I
follow a dual track approach. On the one hand I undertake a
literature review assessing the actual conduct of fiscal policy
coordination in the EMU. On the other hand I study fiscal policy
coordination from a more analytical and theoretical perspective in
terms of discussing and evaluating economic models that deal with
fiscal policy coordination. Both approaches - although from
different angles - let me arrive at similar conclusions: more
comprehensive coordination of fiscal policy is expected to be
beneficial to sound public finances in particular and to welfare in
the EMU in general. The book mainly represents a reproduction of my
diploma thesis.
