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Regulated early closures of coal-fired power plants and tougher energy taxation on electricity production : synergy or rivalry?

Pereira, Alfredo M.; Pereira, Rui Manuel Marvão - In: Economic globalization and governance : essays in honor …, (pp. 241-260). 2021

This chapter examines the economic and environmental effects of the interaction between regulated early closure of coal-fired power plants and new energy taxation rules on such plants using a dynamic general equilibrium model of the Portuguese economy. Simulation results show that regulated...

Persistent link: https://www.econbiz.de/10012310844

Tax, climate change, and sustainable development : global problems, global solutions?

Gaspar, Vítor; Amaglobeli, David - In: Economic globalization and governance : essays in honor …, (pp. 211-226). 2021

This chapter examines three areas where multilateral cooperation is necessary: climate change, international corporate taxation, and sustainable development. Progress in addressing challenges in all these three areas through global cooperation is crucial. We need to find effective ways to limit...

Persistent link: https://www.econbiz.de/10012310837

A thirteenth-century fiscal constitution

Henriques, António - In: Economic globalization and governance : essays in honor …, (pp. 51-59). 2021

The thirteenth century was an era of bold constitutional experiments in Europe. During this age, for the first time in history, fiscal constitutions, i.e., limits on the fiscal prerogatives of the state, emerged. In Portugal, this manifested itself as a monetary constitution that prevented the...

Persistent link: https://www.econbiz.de/10012310772

The gold standard and the Euro : conjoined twins or distant relations?

Eichengreen, Barry - In: Economic globalization and governance : essays in honor …, (pp. 91-105). 2021

I provide a structured comparison of the nineteenth-century classical gold standard and the Euro, basing my analysis heavily on recent research. Both similarities and differences are evident in the historical record. Both regimes were vaunted as engines of convergence, but in both cases...

Persistent link: https://www.econbiz.de/10012310783

A macro-stabilization function for the Euro area

Cavaco Silva, Aníbal A. - In: Economic globalization and governance : essays in honor …, (pp. 111-119). 2021

advantages. While the European Union (EU) technical debate recognizes this desideratum, the same cannot be said for the political … debate across EU Member States. However, history has taught us that EU leaders act decisively when confronted with a crisis …

Persistent link: https://www.econbiz.de/10012310788

Toward a sustainable Eurozone

De Grauwe, Paul; Ji, Yuemei - In: Economic globalization and governance : essays in honor …, (pp. 121-138). 2021

We argue that the various proposals aimed at stabilizing the Eurozone using financial engineering do not eliminate the inherent instability of the sovereign bond markets in a monetary union. During crises, this instability becomes systemic and no amount of financial engineering can stabilize an...

Persistent link: https://www.econbiz.de/10012310791

Fiscal governance in the Euro area : what kind of union?

Hagen, Jürgen von - In: Economic globalization and governance : essays in honor …, (pp. 139-148). 2021

Political debates over the fiscal framework of the European Monetary Union have focused on two issues, dealing with asymmetric shocks and maintaining a high degree of fiscal discipline. After reviewing the development of the EMU fiscal framework, we argue that transfers dealing with asymmetric...

Persistent link: https://www.econbiz.de/10012310792

On the limits of EU differentiated integration : lessons from the Eurozone crisis and from Brexit

Bongardt, Annette; Torres, Francisco S. - In: Economic globalization and governance : essays in honor …, (pp. 149-163). 2021

(treaty-based) variable geometry or differentiated integration in the core European Union (EU) institutions - especially … have to anchor EU integration. From an EU point of view, it does not make sense to accommodate member states' preferences … objective of ever-closer union. This would mean transforming the EU into a mere intergovernmental organization without a common …

Persistent link: https://www.econbiz.de/10012310812

The peculiar first semester of 2012

Barbosa, António S. Pinto; Nunes, Luis C. - In: Economic globalization and governance : essays in honor …, (pp. 165-174). 2021

In 2011, Portugal was subjected to one of the most stringent austerity packages implemented during the Eurozone crisis, a package known as the troika program. The interpretation of the effects of this program led to a vivid confrontation between two opposing views. A Keynesian view stressed the...

Persistent link: https://www.econbiz.de/10012310813

Measuring what social partners do about wages over the business cycle

Martins, Pedro S. - In: Economic globalization and governance : essays in honor …, (pp. 261-275). 2021

Collective bargaining (CB) conducted by trade unions and employer associations (the social partners) plays a key role in the formation of wages in many countries. This paper investigates the potential interactions of CB with the macroeconomy by estimating the business cycle sensitivity of the...

Persistent link: https://www.econbiz.de/10012310845