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Real Convergence in the Euro Area : A Long-Term Perspective

Diaz del Hoyo, Juan Luis - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view” and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a “non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10012941989

The Transition of China to Sustainable Growth – Implications for the Global Economy and the Euro Area

Dieppe, Alistair - 2018

China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...

Persistent link: https://www.econbiz.de/10012928882

The Size and Composition of Government Debt in the Euro Area

Hartwig Lojsch, Dagmar - 2011

This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...

Persistent link: https://www.econbiz.de/10013120240

A Fiscal Capacity for the Euro Area : Lessons from Existing Fiscal-Federal Systems

Burriel, Pablo - 2020

After the financial and economic crisis in Europe, a broad consensus has emerged that a stronger fiscal dimension may be needed to complete the architecture of Economic and Monetary Union (EMU). This paper analyses the performance of interregional transfers in existing fiscal-federal systems,...

Persistent link: https://www.econbiz.de/10012837540

The Reform and Implementation of the Stability and Growth Pact

Morris, Richard - 2006

Fiscal rules are instrumental for restraining deficit and spending biases in euro area Member States that could threaten the smooth functioning of Economic and Monetary Union (EMU). Ideally, fiscal rules should combine characteristics such as sufficient flexibility to allow for appropriate...

Persistent link: https://www.econbiz.de/10012783673

Debt Sustainability Analysis for Euro Area Sovereigns : A Methodological Framework

Bouabdallah, Othman - 2017

The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...

Persistent link: https://www.econbiz.de/10012958895

Euro Area Fiscal Policies and the Crisis

van Riet, Ad - 2010

In mid-September 2008, a global financial crisis erupted which was followed by the most serious worldwide economic recession for decades. As in many other regions of the world, governments in the euro area stepped in with a wide range of emergency measures to stabilise the financial sector and...

Persistent link: https://www.econbiz.de/10012758043

Economic Structures 20 Years into the Euro

Sondermann, David - 2019

Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and sovereign debt crises exposed the limited resilience of the euro area's economic structures. Economic growth was masking underlying weaknesses in several euro area countries....

Persistent link: https://www.econbiz.de/10012868456

The Economic Impact of Next Generation EU : A Euro Area Perspective

Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022

convergence across countries. Finally, the effect of NGEU on euro area inflation over the medium term is deemed to be contained to …

Persistent link: https://www.econbiz.de/10013291193

Monetary-Fiscal Policy Interactions in the Euro Area

Debrun, Xavier; Masuch, Klaus; Vansteenkiste, Isabel; … - 2021

The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...

Persistent link: https://www.econbiz.de/10013210832