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Staying together or breaking apart : policy-makers' endogenous coalitions formation in the European Economic and Monetary Union

Di Bartolomeo, Giovanni; Engwerda, Jacob Christiaan; … - 2002

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …

Persistent link: https://www.econbiz.de/10011597642

Will Stability Last?

Martin, William; Rowthorn, Robert - CESifo - 2004

There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic stability has been fostered by improved monetary policy and by...

Persistent link: https://www.econbiz.de/10005766258

Eurozone : the untold economics

Hatgioannides, John; Karanassou, Marika; Sala, Hector - 2013

This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful bust by unravelling (i) the supply-side structural imbalances that formed the core-periphery economic divide, and (ii) the necessity of the periphery's sovereign debt to finance...

Persistent link: https://www.econbiz.de/10009687800

A Minimal Moral Hazard Central Stabilisation Capacity for the EMU Based on World Trade

Beetsma, Roel M. W. J. - 2018

Recent debate has focused on the introduction of a central stabilisation capacity as a completing element of the …

Persistent link: https://www.econbiz.de/10012923313

Labour Tax Reforms, Cross-Country Coordination and the Monetary Policy Stance in the Euro Area : A Structural Model-Based Approach

Jacquinot, Pascal - 2018

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...

Persistent link: https://www.econbiz.de/10012928551

A Decomposition of Structural Revenue Developments for Euro Area Member States

Morris, Richard - 2020

This paper presents a framework for analysing the evolution of the structural government deficit estimated using the official EU methodology relevant for the Stability and Growth Pact. The focus of our framework lies in the analysis of the main driving forces of changes in estimated structural...

Persistent link: https://www.econbiz.de/10012825652

Macroeconomic Stabilisation Properties of a Euro Area Unemployment Insurance Scheme

Kaufmann, Christoph - 2020

In this paper we use a medium-scale DSGE model to quantitatively assess the macroeconomic stabilisation properties of a …-back mechanisms implies a much weaker degree of stabilisation across countries …

Persistent link: https://www.econbiz.de/10012830081

Do Public Wages in the Euro Area Explain Private Wage Developments? An Empirical Investigation

Attinasi, Maria Grazia - 2019

This paper investigates the relationship between public and private wages in the five largest euro area countries for the period 1997-2017. The analysis shows that there exists a positive and significant response of private wages to a public wage shock. This effect is found to be temporary and...

Persistent link: https://www.econbiz.de/10012893789

Private and Public Risk Sharing in the Euro Area

Cimadomo, Jacopo - 2018

This paper investigates the contribution of private and public channels for consumption risk sharing in the EMU over … estimating how risk sharing has evolved since the start of the EMU, and in particular during the recent crisis. Our results … suggest that, whereas in the early years of the EMU only about 40% of country-specific output shocks were smoothed, in the …

Persistent link: https://www.econbiz.de/10012920112

Revenue Elasticities in Euro Area Countries

Koester, Gerrit - 2017

Revenue elasticities play a key role in forecasting, monitoring and analysing public finances under the European fiscal framework, which largely builds on cyclically adjusted indicators. This paper investigates whether there is evidence for dynamic – instead of the currently used static –...

Persistent link: https://www.econbiz.de/10012963932