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Designing the policy mix in a monetary union

Kempf, Hubert - 2020

This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...

Persistent link: https://www.econbiz.de/10012219885

Macroeconomic stabilization policies in the EMU : spillovers, asymmetries, and institutions

Di Bartolomeo, Giovanni; Engwerda, Jacob Christiaan; … - 2005

This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a …

Persistent link: https://www.econbiz.de/10002572274

Strategic interactions between fiscal and monetary authorities in a multi-country new-Keynesian model of a monetary union

Michalak, Tomasz; Engwerda, Jacob Christiaan; Plasmans, … - 2009

In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

Persistent link: https://www.econbiz.de/10003807838

Fiscal and monetary policy interactions : empirical evidence and optimal policy using a structural New Keynesian model

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2003

This paper examines the interaction of monetary and fiscal policies using an estimated New Keynesian dynamic general equilibrium model for the US. In contrast to earlier work using VAR models, we show that the strategic complementarity or substitutability of fiscal and monetary policy depends...

Persistent link: https://www.econbiz.de/10011511042

The long-run evolution of infrastructure services

Goldsmith, Hugh - 2014

This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and … positive feedback between early capital market development and investment in infrastructure innovations that lowered system …-wide transaction costs has been a critical factor in sustaining growth since 1800. The paper sets out a model of infrastructure …

Persistent link: https://www.econbiz.de/10010434094

Do EU fiscal rules support or hinder counter-cyclical fiscal policy?

Larch, Martin; Orseau, Eloïse; Van der Wielan, Wouter - 2020

Rather than stabilising aggregate demand, discretionary fiscal policy tends to amplify cyclical fluctuations of output. The commonly accepted reasons are political economy and uncertainty. In the EU, the pro-cyclical nature of discretionary fiscal policy has also been associated with the...

Persistent link: https://www.econbiz.de/10012306605

Will Germany's temporary VAT tax rates cut as part of the Covid-19 fiscal stimulus package boost consumption and growth?

Funke, Michael; Terasa, Raphael - 2020

On 3 June 2020, the German government announced a EUR 130 billion fiscal stimulus package to stimulate market demand and jumpstart the economy in the wake of the COVID-19 pandemic lockdown in the spring of 2020. The most prominent measure of this package is an unconventional fiscal policy in the...

Persistent link: https://www.econbiz.de/10012388013

Digital fiscal stimulus and SMEs : insights from Thailand's Half and Half Program

Athiphat Muthitacharoen - 2023 - This Version: January 2024

This study leverages the unique opportunities presented by the digitization of economic activity to investigate the impact of Thailand's 'Half and Half' program-a targeted, digital co-pay fiscal stimulus-on SMEs and consumer spending. Utilizing weekly province-level data from LINE MAN Wongnai, a...

Persistent link: https://www.econbiz.de/10014383937

The political economy of the Covid-19 fiscal stimulus packages of 2020

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - 2021

Almost all countries announced fiscal support programs once COVID-19 hit. However, there was significant diversity in the magnitude and composition of these fiscal stimulus programs. These differences were determined by myriad political, financial, social, and economic factors - these factors...

Persistent link: https://www.econbiz.de/10012628797

Is there a role for an active fiscal stabilization policy?

Andersen, Torben M. (contributor) - 2005

This paper discusses the need and scope for an active fiscal stabilization policy. It is argued that the effectiveness … stabilization policy in terms of temporary variations in taxes or public consumption contingent on the state of the economy. The …

Persistent link: https://www.econbiz.de/10002756348