What is fiscal federalism ?

Monetary Union 07/03/2024

A. A fiscal system for a group of countries in which fiscal policy is set in a treaty signed by all the countries
B. A fiscal system for a group of countries in which government budget deficits are strictly limited
C. A fiscal system for a group of countries involving a common fiscal budget and a system of taxes and fiscal transfers across countries
D. A fiscal system in which fiscal policy is jointly determined by local and national politicians

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