Structural reforms and budget deficits in a monetary union: a strategic approach

This paper explores the interrelations between budget deficits and structural reforms in a monetary union. The analysis considers the international spillovers generated by both policies. We show that efforts to achieve fiscal policy coordination within the Eurozone reduce member countries’ incentives to carry out much-needed structural reforms. As a consequence, this cooperation can turn out to be welfare-reducting if it not extended to the implementation of structural reforms.

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Year of publication:	2009-09
Authors:	Campoy, Juan Cristobal ; Negrete, Juan Carlos
Institutions:	Facultad de Economía y Empresa, Universidad de Murcia
Subject:	Structural reforms \| Budget deficits \| Externalities \| Coordination

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Extent:	application/pdf
Series:	UMUFAE Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	3 pages long
Classification:	D12 - Consumer Economics: Empirical Analysis ; R23 - Regional Migration; Regional Labor Markets; Population
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008629495