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effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the …
Persistent link: https://www.econbiz.de/10014401884
Considers possible adjustments in the design of Fund-supported programs, drawing on the experience of low-income countries that have successfully addressed the most apparent domestic macroeconomic imbalances
Persistent link: https://www.econbiz.de/10014409774
This report describes the monetary and exchange rate policies of the euro area and the euro area stability programs. The Stability and Growth Pact presents annual stability programs (SPs), which outlines the medium-term fiscal objectives. The paper provides a preliminary review of the SPs,...
Persistent link: https://www.econbiz.de/10014406861
International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has … been whether economic performance can be improved by coordination Although it is still a controversial issue many … economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the …
Persistent link: https://www.econbiz.de/10014396391
The choice of assigning monetary or fiscal policy to external balance is complicated when the authorities are concerned with both the current account balance and the exchange rate. A strategy of using monetary policy to control the current account via the exchange rate may fail, because the...
Persistent link: https://www.econbiz.de/10014396345
The EU crisis was caused by unsustainable policies in some member countries, and has put the spotlight on the deficiency of area-wide mechanisms in disciplining fiscal and structural policies. Despite a strong and far-reaching policy response, market confidence will take time to restore. Fiscal...
Persistent link: https://www.econbiz.de/10014403108
The paper argues that international differences in fiscal conditions influence the relative attractiveness of locating production facilities in different countries and could prove to be a troublesome source of instability for the European economies. Even though physical capital movements tend to...
Persistent link: https://www.econbiz.de/10014396443
case for policy coordination, not for ceilings on fiscal deficits …
Persistent link: https://www.econbiz.de/10014396463
The 2012 Article IV Consultation report on euro area policies highlights that investors are withholding funding from member states most in need, moving capital “north” and abroad to perceived safer assets. Executive Directors have noted that the euro area continues to face a number of...
Persistent link: https://www.econbiz.de/10014395494
This 2008 Article IV Consultation on euro area policies highlights that 10 years after its launch, monetary union is a distinct success and the euro area a zone of stability in the international economy. However, economic union remains work in progress. Improved wage setting and labor market...
Persistent link: https://www.econbiz.de/10014402119