The Fiscal Governance Frameworks of the United States and the European Union: Comparing ‘Apples and Pears’

Please note: Each In-Depth Analysis is assigned a DOI (digital object identifier), which is a safe and long term way of ensuring a hyperlink to the full text of this report. However, when ESO creates this record, on occasion the DOI still has not been activated by the EU Bookshop. If you find the source url hyperlink does not work please use the alternative location hyperlink listed as a related url.This paper lays out the different institutional frameworks that govern fiscal policy in the United States and the European Union. It details the resulting differences in fiscal activity through a comparison of the revenues, expenditures, and fiscal balances that the authors observe at the central and state level in both jurisdictions.

The paper tries to provide a factual ‘snap shot’ of these fiscal frameworks in order to distinguish the characteristics of these two institutionally very different economic governance systems.

• Primary Source

European Parliament: Directorate-General for Internal Policies of the Union: Publications available via the EU Bookshop http://bookshop.europa.eu/en/directorate-general-for-internal-policies-of-the-union-cbf.cKABstF7wAAAEjwYYY4e5K/

---