Fiscal policy making has not managed to converge to a framework with clear principles and medium term objectives.13 Growing doubts about governments’ ability to deliver sustainable  13  6  See Leeper E. (2010), “Monetary Science, Fiscal Alchemy,” NBER Working Paper Series, No 16510.  public finances could at some point also cast doubt on the sustainability of the prevailing regime of monetary dominance.
Channels of Interstate Risk Sharing: US 1963–1990, in Quarterly  Journal of Economics, 111(4), pp 1081–1110. 9 H. Bonin (2012), “The Two German Labour Market Miracles: Blueprint for Tackling the Unemployment  Crisis?”, Comparative Economic Studies, 54.