Młodkowski, Paweł2020-02-252020-02-252007Folia Oeconomica Cracoviensia 2007, Vol. XLVIII, s. 25-46.0071-674Xhttp://hdl.handle.net/11315/27923The discussion of the need to formally coordinate fiscal policies in monetary union member countries lacks a framework to assess the feasibility of different limits and requirements imposed on public finance at the member-country level. The main argument raised by opponents to a multi lateral supervision is that it allows for n o flexibility in conducting fiscal policy. A lack of this flexibility makes a response to asymmetric shocks impossible and increases differences in business cycle phases among monetary union member countries . This paper offers a framework to assess and compare fiscal policy flexibility underavariety of different fiscal constraints and their levels.plUznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polskamonetary integrationfiscal policy flexibilityfiscal convergence criteriaintegracja monetarnaelastyczność polityki monetarnejkryteria konwergencji fiskalnejEkonomiaArtykuł