Similar Search Results

Fiscal or bailout union. Where is the EU/EMU's fiscal integration heading?

Dabrowski, Marek - In: Revue de l'OFCE N° 132 (2014) 1, pp. 17-49

Eurozone. Each variant of fiscal integration must be based on sound foundations of fiscal discipline. Market discipline, i …

Persistent link: https://www.econbiz.de/10011186996

L'Eurosystème : un mécanisme de transferts en faveur des pays déficitaires ?. Le débat

Grjebine, André - In: Revue de l'OFCE N° 126 (2012) 7, pp. 269-298

the Eurozone, TARGET2 (Trans-European Automated Real-Time Gross Settlement Express Transfer). They criticize it under … Eurozone countries, thereby putting deficit countries in a prominent position in terms of money creation within the Eurozone … has thoroughly contributed to allow the Eurozone to surmount the financial and commercial imbalances that threatened to …

Persistent link: https://www.econbiz.de/10011187097

The European Redemption Pact. An illustrative guide

Doluca, Hasan; Hübner, Malte; Rumpf, Dominik; Weigert, … - In: Revue de l'OFCE N° 127 (2013) 1, pp. 341-367

The European Redemption Pact (ERP), a proposal of the German Council of Economic Experts, describes an exit strategy from the debt crisis which currently plagues the euro area. The pact includes a binding commitment of all participating countries to bring public debt ratios below the reference...

Persistent link: https://www.econbiz.de/10011020580

Théorie macroéconomique pour une économie moderne. Conférence Nobel

Phelps, Edmund S.; Laurent, Éloi; Cacheux, Jacques Le - In: Revue de l'OFCE n° 102 (2007) 3, pp. 15-52

This article is a revised version of the lecture Edmund S. Phelps delivered in Stockholm, Sweden, on December 10, 2006, when he received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The modern economy, where fully adopted, has been transformative for nations ? but...

Persistent link: https://www.econbiz.de/10008478483

La politique de change de la zone euro ou le hold-up tranquille de la BCE

Creel, Jérôme; Laurent, Éloi; Cacheux, Jacques Le - In: Revue de l'OFCE 100 (2007) 1, pp. 7-30

Exchange rate policy is of primordial economic importance given its impact on price stability, real growth and regional cohesion. In this article, we argue that the euro area thus needs a true exchange rate policy, to which it is entitled by law, but that it finds itself unable to implement for...

Persistent link: https://www.econbiz.de/10008478324

Politiques et performances macroéconomiques de la zone euro. Institutions, incitations, stratégies

Creel, Jérôme; Laurent, Éloi; Cacheux, Jacques Le - In: Revue de l'OFCE n° 102 (2007) 3, pp. 249-281

Economic performance has been feeble in the Euro area since the monetary union process was put in motion in the early 1990s. While the cause for this under-performance remains subject to debate, we argue in this paper that the rules and institutions governing the Euro area are clearly not...

Persistent link: https://www.econbiz.de/10008478582

Debt, assets and imbalances in the euro area. An aggregate view

Nieuwenhuyze, Christophe Van - In: Revue de l'OFCE N° 127 (2013) 1, pp. 123-152

The recent developments in the euro area have shown how important it is that the various economic sectors pay attention to their financial positions. In the literature, the approach to analyse these positions is often partial, focusing on the government sector or just on the gross debt, as in...

Persistent link: https://www.econbiz.de/10010617524

How to restore sustainability of the euro?

Alho, Kari E.O. - In: Revue de l'OFCE N° 127 (2013) 1, pp. 303-340

We specify an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result on the unsustainability of the euro with ever-mounting inflation differentials by Wickens (2007) does not hold in general. Strong fiscal consolidation and far-reaching successful...

Persistent link: https://www.econbiz.de/10011020572

Politiques monétaires : à petits pas

Marty, Frédéric - In: Revue de l'OFCE 101 (2007) 2, pp. 141-163

Following the decrease in oil prices, inflation went back under 2% in the euro area. But the ECB still considers that risks lie on the upside. The tightening of monetary policy has come close to an end since a last interest increase is scheduled in June 2007. The Federal reserve faced a dilemma...

Persistent link: https://www.econbiz.de/10008478367

Immobilier et politique monétaire

Heyer, Éric; Timbeau, Xavier - In: Revue de l'OFCE 96 (2006) 1, pp. 115-151

We propose a model and its econometric estimation, representing the housing channel of monetary policy. Econometrics are robusts over time and space, lead to sound effects and allows measurement of different sensitivity of countries to a change of interest rates. According to our estimations,...

Persistent link: https://www.econbiz.de/10008478379