Fiscal decentralization theory is one of the important questions in fiscal theory.

财政分权理论是财政理论中的重要问题。

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So the claim that fiscal responsibility requires immediate spending cuts to offset the cost of disaster relief is just wrong, in both theory and practice.

因此，宣称财政责任感要求立刻削减开支以抵消救灾费用的说法，无论从理论上还是实践上都是完全错误的。

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According to the theory of optimal currency areas, a central fiscal policy is necessary because a single interest rate will not suit conditions in all parts of a currency zone.

根据最优货币区域理论，确立一个中央财政政策很有必要，因为单一利率并不适于货币区域内所有地区的情况。

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Given the persistent weakness in the U.S. economy, a re-evaluation of fiscal policy theory is warranted.

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They will also tell you that the fiscal gap is the only measure of fiscal sustainability recognized by economic theory.

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Slightly more plausible is the theory that constant coverage of the Fiscal Cliff scared many consumers into keeping their wallets mostly shut.

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