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Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase

Thode, Eric - 1999

EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics … over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase … attack as such cannot force a country out of EMU. However, the country concerned might voluntarily decide to leave the system …

Persistent link: https://www.econbiz.de/10014401049

Is Fiscal Policy Coordination in EMU Desirable?

Beetsma, Roel M. W. J. - 2001

It is widely argued that Europe''s unified monetary policy calls for international coordination at the fiscal level. We survey the issues involved in such coordination in the perspective of macroeconomic stabilization. A simple model identifies the circumstances under which coordination may be...

Persistent link: https://www.econbiz.de/10014400111

The Cost Channel of Monetary Policy : Further Evidence for the United States and the Euro Area

Rabanal, Pau - 2003

This paper estimates the importance of the cost channel of monetary policy in a New Keynesian model of the business cycle. A model with nominal rigidities is extended by assuming that a fraction of firms need to borrow money to pay their wage bill. Hence, monetary policy tightenings increase...

Persistent link: https://www.econbiz.de/10014401278

Does Government Spending Crowd in Private Consumption? : Theory and Empirical Evidence for the Euro Area

Coenen, Günter - 2005

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non- Ricardian households is in general...

Persistent link: https://www.econbiz.de/10014401503

The xpected time to cross a threshold and its determinants : A simple and flexible framework

Zsurkis, Gabriel; Nicolau, João; Rodrigues, Paulo M. M. - In: Journal of economic dynamics & control 122 (2021), pp. 1-17

Persistent link: https://www.econbiz.de/10012666214

A monetary business cycle model with unemployment

Alexopoulos, Michelle - In: Journal of economic dynamics & control 31 (2007) 12, pp. 3904-3940

Persistent link: https://www.econbiz.de/10003569852

Getting to know GIMF : the simulation properties of the global integrated monetary and fiscal model

Anderson, Derek; Hunt, Benjamin F.; Kortelainen, Mika; … - 2013

Persistent link: https://www.econbiz.de/10009726538

Productivity shocks, stabilization policies and the dynamcis of net foreign assets

Di Giorgio, Giorgio; Nisticò, Salvatore - In: Journal of economic dynamics & control 37 (2013) 1, pp. 210-230

Persistent link: https://www.econbiz.de/10009703601

On fiscal and monetary policy-induced macroeconomic volatility dynamics

Liu, Xiaochun - In: Journal of economic dynamics & control 127 (2021), pp. 1-21

Persistent link: https://www.econbiz.de/10012668875

Macroeconomic effects of reforms on three diverse oil exporters : Russia, Saudi Arabia, and the UK

Beidas-Strom, Samya; Lorusso, Marco - 2019

We build and estimate open economy two-bloc DSGE models to study the transmission and impact of shocks in Russia, Saudi Arabia and the United Kingdom. After accounting for country-specific fiscal and monetary sectors, we estimate their key policy and structural parameters. Our findings suggest...

Persistent link: https://www.econbiz.de/10012112123

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