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The political economy under monetary union: has the euro made a difference?

Fratzscher, Marcel; Stracca, Livio - European Central Bank - 2008

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …

Persistent link: https://www.econbiz.de/10005530784

What are the spill-overs from fiscal shocks in Europe? An empirical analysis

Giuliodori, Massimo; Beetsma, Roel - European Central Bank - 2004

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...

Persistent link: https://www.econbiz.de/10005530834

Restoring central banks after the crisis: Re-examining central bank orthodoxy for unorthodox times: Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012

Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012

Persistent link: https://www.econbiz.de/10010727088

Fiscal policy and monetary policy: restoring the boundaries - U.S. Monetary Policy Forum, The Initiative on Global Markets, University of Chicago Booth School of Business, New York, New York, February 24, 2012

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012

Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012

Persistent link: https://www.econbiz.de/10010727106

A perspective on the U.S. economic outlook and monetary policy

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, SNS (Center for Business and Policy Studies) and SIFR (The Institute for Financial Research), Stockholm, Sweden

Persistent link: https://www.econbiz.de/10010727158

A perspective on the U.S. economic outlook and monetary policy

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, Global Interdependence Center's Central Banking Series: Recovery 2013 — Strength or Stagnation?, Milan, Italy, May 16, 2013 ; Note: President Plosser presented similar remarks on May...

Persistent link: https://www.econbiz.de/10011026977

Inflation forecasting in the new EU Member States

Arratibel, Olga; Kamps, Christophe; Leiner-Killinger, Nadine - European Central Bank - 2009

To the best of our knowledge, our paper is the first systematic study of the predictive power of monetary aggregates for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus non-monetary (economic and fiscal) determinants of...

Persistent link: https://www.econbiz.de/10005002771

Fiscal policy in a monetary economy with capital and finite lifetime

Annicchiarico, Barbara; Giammarioli, Nicola; … - European Central Bank - 2006

This paper develops a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite lifetimes. The framework exhibits intergenerational wealth effects and is intended to investigate the macroeconomic implications of fiscal policy, which is specified by...

Persistent link: https://www.econbiz.de/10005344905

Fiscal convergence before entering the EMU

Onorante, Luca - European Central Bank - 2006

The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...

Persistent link: https://www.econbiz.de/10005344947

What accounts for the changes in U.S. fiscal policy transmission?

Bilbiie, Florin O.; Meier, André; Müller, Gernot J. - European Central Bank - 2006

Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...

Persistent link: https://www.econbiz.de/10005344962