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Pushing the limit? : fiscal policy in the European Monetary Union

Daniel, Betty Carolyn; Shiamptanis, Christos - In: Journal of economic dynamics & control 37 (2013) 11, pp. 2307-2321

Persistent link: https://www.econbiz.de/10010196884

Obstfeld, Maurice - 1999

and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear … joint currency. A third problems, one that is central for EMU and to any currency union, lies behind the difficulty of the … consider the past and prospective fiscal adjustments of the EMU 11, and suggest these might pose future difficulties for …

Persistent link: https://www.econbiz.de/10012471509

How Do Monetary and Fiscal Policy Interact in the European Monetary Union?

Canzoneri, Matthew B. - 2005

Formation of the Euro area raises new questions about the coordination of monetary and fiscal policy. Using a New Neoclassical Synthesis (NNS) model, we show that a common monetary policy, responding to area-wide aggregates, has asymmetric effects on countries within the union, depending on...

Persistent link: https://www.econbiz.de/10012467632

The negative mean output gap

Aiyar, Shekhar; Voigts, Simon - 2019

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns than they increase employment during expansions. This is demonstrated in a simple...

Persistent link: https://www.econbiz.de/10012103632

How informative are real time output gap estimates in Europe?

Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019

We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have...

Persistent link: https://www.econbiz.de/10012103755

Large-scale bond purchases in a currency union with segmentation in the market for government debt

Tischbirek, Andreas - In: Journal of economic dynamics & control 95 (2018), pp. 37-69

Persistent link: https://www.econbiz.de/10012004904

Debt and stabilization policy : evidence from a Euro Area FAVAR

Jackson, Laura; Owyang, Michael T.; Zubairy, Sarah - In: Journal of economic dynamics & control 93 (2018), pp. 67-91

Persistent link: https://www.econbiz.de/10011974466

The ECB's Fiscal Policy

Sinn, Hans-Werner - 2018

While the ECB helped mitigate the euro crisis in the aftermath of Lehman, it has stretched its monetary mandate and moved into fiscal territory. This text describes and summarizes the crucial role played by the ECB in the intervention spiral resulting from its bid to manage the crisis. It also...

Persistent link: https://www.econbiz.de/10012453105

Interactions between monetary and fiscal policy under flexible exchange rates

Leith, Campbell B.; Wren-Lewis, Simon - In: Journal of economic dynamics & control 32 (2008) 9, pp. 2854-2882

Persistent link: https://www.econbiz.de/10003775113

Das Public Kapital : how much would higher German public investment help Germany and the euro area?

Elekdaǧ, Selim Ali; Muir, Dirk - 2014

Persistent link: https://www.econbiz.de/10010479447

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