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Real and monetary policy convergence : EMU crisis to the CFA Zone

Asongu, Simplice A. - 2012

. We also provide the speed of convergence and time required to achieve a 100% convergence. Findings - But for financial … intermediary size within the CFA zone, findings for the most part support only unconditional convergence. There is no form of … convergence within the CEMAC zone. Practical implications - The broad insignificance of conditional convergence results have …

Persistent link: https://www.econbiz.de/10011410050

Are proposed African monetary unions optimal currency areas? : real, monetary and fiscal policy convergence analysis

Asongu, Simplice A. - 2012

fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East … Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common … panel GMM estimation with data from different non-overlapping intervals is employed. The implied rate of convergence and the …

Persistent link: https://www.econbiz.de/10011410252

Are proposed African monetary unions optimal currency areas? : real and monetary policy convergence analysis

Asongu, Simplice A. - 2012

policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East Africa is … facing stiff challenges in the timing of monetary convergence, the imperative of bankers to apply common modeling and … at macro and micro levels. Findings - Findings suggest overwhelming lack of convergence: (1) initial conditions for …

Persistent link: https://www.econbiz.de/10011410263

Fostering cyclical convergence in the Euro Area

Gori, Filippo - 2021

convergence in the currency union. …

Persistent link: https://www.econbiz.de/10012801162

Short-Term Pain for Long-Term Gain : The Impact of Structural Reform on Fiscal of Outcomes in EMU

van den Noord, Paul - 2006

The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop,...

Persistent link: https://www.econbiz.de/10012443961

Catching-up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - 2010

periods of very fast growth. We interpret these results as a sign that price level convergence comes from goods, market and …

Persistent link: https://www.econbiz.de/10012444720

The Effects of Fiscal Policy on Output : A DSGE Analysis

Furceri, Davide - 2010

This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest...

Persistent link: https://www.econbiz.de/10012446129

Enhancing the Effectiveness of Public Spending: Experience in OECD Countries

Joumard, Isabelle; Kongsrud, Per Mathis; Nam, Young-Sook; … - Economics Department, Organisation de Coopération et … - 2004

In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors....

Persistent link: https://www.econbiz.de/10005045600

Managing Public Expenditure: The UK Approach

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2002

The UK medium-term budgetary framework introduced in 1997 addressed a number of weaknesses of the former regime, notably a bias against capital expenditure and, more generally, poor conditions for longerterm planning adversely affecting central government spending departments, local authorities...

Persistent link: https://www.econbiz.de/10005045652

Reforming Turkey's Public Expenditure Management

Gönenç, Rauf; Leibfritz, Willi; Yilmaz, Erdal - Economics Department, Organisation de Coopération et … - 2005

Fiscal imbalances were a main cause for chronic high inflation and macroeconomic instability before the 2000/2001 crisis. Fiscal consolidation is the cornerstone of post-crisis stabilization. It has been quite successful over the past three years as sizeable primary surpluses have been sustained...

Persistent link: https://www.econbiz.de/10005045722