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One Money, But Many Fiscal Policies in Europe : What are the Consequences?
Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2002
This paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union.It points out the possibilities for coordination failures,ranging everywhere from potentially excessive deficits and free-riding problems to...
Persistent link: https://www.econbiz.de/10011092175
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Reducing Macroeconomic Imbalances in Turkey
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Coşar, … - Economics Department, Organisation de Coopération et … - 2014
domestic saving. Overall, policies should help reduce the risk of disruptions in capital flows as monetary policy stimulus is …
Persistent link: https://www.econbiz.de/10011277023
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Tackling Turkey's External and Domestic Macroeconomic Imbalances
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2012
menu of saving instruments. Improvements in the business environment would spur foreign direct investment, making for … competitiveness problems and a dearth of domestic saving. They need to be addressed using both macroeconomic and structural policy … balanced growth through strengthened competitiveness and greater private saving calls inter alia for increased labour force …
Persistent link: https://www.econbiz.de/10011277032
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Fiscal Prospects and Reforms in India
Herd, Richard; Hill, Sam; Koen, Vincent - Economics Department, Organisation de Coopération et … - 2011
pays, thresholds are set to be raised considerably. A goods and services tax is to be introduced, which should help reduce … the segmentation of the national market for goods and services. Customs duties have been reduced on average but remain …
Persistent link: https://www.econbiz.de/10009364448
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Central Bank Purchases of Private Assets
Williamson, Stephen D. - Federal Reserve Bank of St. Louis - 2014
A model is constructed in which consumers and banks have incentives to fake the quality of collateral. Conventional monetary easing can exacerbate these problems, in that the mispresentation of collateral becomes more profitable, thus increasing haircuts and interest rate differentials. Central...
Persistent link: https://www.econbiz.de/10010938568
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Implications of Output Gap Uncertainty in Times of Crisis
Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - Economics Department, Organisation de Coopération et … - 2012
This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor productivity gaps, except in the United States where it...
Persistent link: https://www.econbiz.de/10011276902
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Credit Crises and the Shortcomings of Traditional Policy Responses
White, William R. - Economics Department, Organisation de Coopération et … - 2012
Economic downturns which have their roots in preceding credit excesses and debt overhang have tended historically to be long lasting, whether the financial sector remained healthy or not. There are no good reasons to believe the current global crisis will be any different. Moreover, it is argued...
Persistent link: https://www.econbiz.de/10011277008
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CLAVES DE LA INFLACION DE 2005
Marongiu, Federico - EconWPA - 2005
El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...
Persistent link: https://www.econbiz.de/10005076625
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Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges
Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003
Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges Philip Arestis and Malcolm Sawyer, The Levy Economics Institute and Leeds University Abstract This paper presents two issues: first, an effort to decipher the type of economic analysis and...
Persistent link: https://www.econbiz.de/10005076715
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The Fed’s Consistent Monetary Policy: A Long Term Perspective
Los, Cornelis A. - EconWPA - 2004
This paper describes the Federal Reserve's analytical framework under Volcker and Greenspan, as it was constructed in the early 1980s, during a period of high inflation. It traces the modeling and policy implications of this framework. It discusses the Fed's actual track record and the state of...
Persistent link: https://www.econbiz.de/10005076785