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The political economy under monetary union: has the euro made a difference?

Fratzscher, Marcel; Stracca, Livio - 2008

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …

Persistent link: https://www.econbiz.de/10003794175

Turning in the widening gyre : monetary and fiscal policy in interwar Britain

Ronicle, David - 2022

Persistent link: https://www.econbiz.de/10013185984

The macroeconomic effects of fiscal policy

Afonso, António; Sousa, Ricardo M. - 2009

We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...

Persistent link: https://www.econbiz.de/10003826480

Fiscal developments and financial stress : a threshold VAR analysis

Afonso, António; Baxa, Jaromír; Slavík, Michal - 2011

We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...

Persistent link: https://www.econbiz.de/10008935826

Estimating the effects of fiscal policy in OECD countries

Perotti, Roberto (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702818

Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment

Coenen, Günter; Montes-Galdón, Carlos; Schmidt, Sebastian - 2021

The secular decline in the equilibrium real interest rate observed over the past decades has materially limited the room for policy-rate reductions in recessions, and has led to a marked increase in the incidence of episodes where policy rates are likely to be at, or near, the effective lower...