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Fiscal Sustainability in the Presence of Systemic Banks : The Case of EU Countries

Bénassy-Quéré, Agnès - 2012

We provide a first attempt to include off-balance sheet, implicit insurance to SIFIs into a consistent assessment of fiscal sustainability, for 27 countries of the European Union. We first calculate tax gaps à la Blanchard (1990) and Blanchard et al. (1990). We then introduce two alternative...

Persistent link: https://www.econbiz.de/10013098648

The Impact of Market Regulations on Intra-European Real Exchange Rates

Bénassy-Quéré, Agnès - 2013

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors and employment protection tend to inflate the real...

Persistent link: https://www.econbiz.de/10013087275

Making the best of the European single market

Aussilloux, Vincent; Bénassy-Quéré, Agnès; Fuest, … - 2017

across and within EU countries. It is estimated that remaining non-tariff obstacles, in particular in services sectors, limit … intra-EU trade to a level about four times smaller than the intensity of trade between US states. By completing the single … market, the EU could generate significant income gains. However the more straightforward steps have already been taken, so …

Persistent link: https://www.econbiz.de/10011779341

Euro-Area Fiscal Stance : From Theory to Practical Implementation

Bénassy-Quéré, Agnès - 2016

Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only...

Persistent link: https://www.econbiz.de/10012982261