期刊名称：Quantitative and Qualitative Analysis in Social Sciences
印刷版ISSN：1752-8925
出版年度：2010
卷号：4
期号：2
页码：82-113
出版社：Quantitative and Qualitative Analysis in Social Sciences
摘要：Allowing fiscal policy to a.ect households' behaviour when imposing taxes, can be viewed as a transac-tion cost of the tax system. In the light of the underlying state-taxpayer interplay, we study monetaryand fiscal policy interactions in a two-country framework of a monetary union. This paper evolves intwo directions. First, we endogenously derive (within optimality) the functional form of the transactioncost. Second, we investigate the constraints that this cost (endogenously) imposes on the e.ciency offiscal policy. This way, we develop a channel through which fiscal policy is related to price stability,the primary ob jective of the Common Central Bank (CCB), via the concept of the transaction costof the tax system. Furthermore, within this framework, we investigate the e.ectiveness of fiscal rules(like the European Union Stability and Growth Pact) in building sound fiscal policies and maintainingprice stability
