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Assessing the Fiscal-Monetary Policy Mix in the Euro Area

Bańkowski, Krzysztof; Christoffel, Kai; Faria, Thomas - 2021

This paper attempts to gauge the effects of various fiscal and monetary policy rules on macroeconomic outcomes in the euro area. It consists of two major parts – a historical assessment and an assessment based on an extended scenario until 2030 – and it builds on the ECB-BASE –a...

Persistent link: https://www.econbiz.de/10013312080

The cyclical behaviour of fiscal policy during the Covid-19 crisis

Heimberger, Philipp - 2022

crisis. Furthermore, automatic fiscal stabilisers contributed significantly to counter-cyclical stabilisation, although their …

Persistent link: https://www.econbiz.de/10013373264

Euro Area Inflation Differentials : The Role of Fiscal Policies Revisited

Checherita-Westphal, Cristina; Leiner-Killinger, Nadine; … - 2023

This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation differentials across the 19 euro area countries over the period 1999-2019. The results confirm existing (older) literature that it is difficult to find robust evidence of the fiscal...

Persistent link: https://www.econbiz.de/10014257756

Interest Rate-Growth Differentials on Government Debt : An Empirical Investigation for the Euro Area

Checherita-Westphal, Cristina; Semeano, João Domingues - 2021

Persistent link: https://www.econbiz.de/10013315044

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

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

Subsidising Car Purchases in the Euro Area : Any Spill-Over on Production?

Paredes, Joan - 2017

Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...

Persistent link: https://www.econbiz.de/10012949115

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

Have Euro Area and EU Economic Governance Worked? Just the Facts

Ioannou, Demosthenes - 2011

We test whether two key elements of the EU and Euro Area economic governance framework, the Stability and Growth Pact and the Lisbon Strategy, have had any impact on macroeconomic outcomes. We test this proposition using a difference-in-difference approach on a panel of over 30 countries, some...

Persistent link: https://www.econbiz.de/10013124977