Members of a monetary union have limited control over monetary policy. This can elevate the role of fiscal policy as … the primary macroeconomic tool against country-specific shocks. In this paper, I argue that fiscal policy is highly … Monetary union, I provide evidence that the sentiments channel for fiscal policy is strongly present in peripheral European …

In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and … in disinflation and rising debt trajectory. Meanwhile, Italy's procyclical fiscal policy in downturns contributed to …

changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary …

a heterogenous monetary union. Price level determinacy follows if fiscal policy at the level of the union as a whole is … active. Different combinations of national fiscal policies and a common fiscal policy with "Eurobonds" amount to active … fiscal policy for the union, but can have very different implications for the effects of fiscal and monetary policy. We …

refugees, increasing military spending and strengthening energy autonomy remain limited, the impact of elevated energy and food …

governments in the euro area enacted or announced numerous economic policy measures to counteract the severe economic consequences … markets. In conjunction with fiscal policy measures, EU-wide measures in particular, they were able to stabilize the stock …