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In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co-movements in fiscal policy; 2) financial stability; and 3) financial integration. We provide empirical evidence documenting the existence of such a trade-off in the period characterized...
Persistent link: https://www.econbiz.de/10013020581
Persistent link: https://www.econbiz.de/10009719330
should combine elements of market discipline with stabilisation in case of asymmetric shocks. Our proposal addresses the …
Persistent link: https://www.econbiz.de/10012996428