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Fiscal Policy and Monetary Integration in Europe

Galí, Jordi; Perotti, Roberto - 2021

Growth Pact have significantly impaired the ability of EU governments to conduct a stabilizing fiscal policy and to provide … discretionary budget deficit over the period 1980-2002, using data on EMU countries and control groups of non-EMU EU countries and … other non-EU OECD countries. We do not find much support for this view. In fact, we find that discretionary fiscal policy in …

Persistent link: https://www.econbiz.de/10013239944

Trade Blocs, Currency Blocs and the Disintegration of World Trade in the 1930s

Eichengreen, Barry; Irwin, Douglas A. - 2021

The dramatic implosion and regionalization of international trade during the 1930s has often been blamed on the trade and foreign exchange policies that emerged in the interwar period. We provide new evidence on the impact of trade and currency blocs on trade flows from 1928 1938 that suggests a...

Persistent link: https://www.econbiz.de/10013245718

Optimal Monetary and Fiscal Policy in a Currency Union

Galí, Jordi; Monacelli, Tommaso - 2022

We lay out a tractable model for fiscal and monetary policy analysis in a currency union, and analyze its implications for the optimal design of such policies. Monetary policy is conducted by a common central bank, which sets the interest rate for the union as a whole. Fiscal policy is...

Persistent link: https://www.econbiz.de/10013324158

Management of a Common Currency

Casella, Alessandra - 2010

This paper presents a simple general equilibrium model of two countries using a common currency. The goal is to study how the monetary arrangement influences the optimum financing of a public good. If the two countries are allowed to print the common currency autonomously, they will finance...

Persistent link: https://www.econbiz.de/10013141629