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Energy price shocks and stabilization policies in a multi-agent macroeconomic model for the Euro Area
Turco, Enrico; Bazzana, Davide; Rizzati, Massimiliano; … - 2022
Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on the Euro Area, to analyze the economic and...
Persistent link: https://www.econbiz.de/10013383241
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The cyclical behaviour of fiscal policy during the Covid-19 crisis
Heimberger, Philipp - 2022
Covid-19 crisis (2020-2021) was significantly more countercyclical than before - in particular in the Eurozone. We do not … performance over 2020-2021 was more in line with the past than for discretionary fiscal policy. Overall, fiscal policy in non-Eurozone … advanced countries is more countercyclical than in the Eurozone. However, the cyclicality varies markedly across countries. Our …
Persistent link: https://www.econbiz.de/10013373264
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Staying together or breaking apart : policy-makers' endogenous coalitions formation in the European Economic and Monetary Union
Di Bartolomeo, Giovanni; Engwerda, Jacob Christiaan; … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...
Persistent link: https://www.econbiz.de/10011597642
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The Meloni government's budgetary policy and the reform of European Economic Governance
Bastasin, Carlo - 2023
Persistent link: https://www.econbiz.de/10014384037
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National inflation and EMU : testing for common trends and cycles
Heimonen, Kari - 1999
Persistent link: https://www.econbiz.de/10001433409
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Fiscal consolidation and its growth effects in euro area countries : past, present and future outlook
Heimberger, Philipp - 2024
This paper is about fiscal consolidation measures (i.e. tax hikes and government spending cuts motivated by a desire to reduce the fiscal deficit and public debt) in euro area (EA) countries. The focus is on analysing the growth effects of fiscal adjustments as well as their implications for...
Persistent link: https://www.econbiz.de/10015076372
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Choosing the European fiscal rule
Buss, Ginters; Grüning, Patrick; Tkačevs, Olȩgs - 2021
Persistent link: https://www.econbiz.de/10012792380
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Macroeconomic effects of fiscal policy in the European Union, with particular reference to transition countries
Kabashi, Rilind - 2017
positive, but a relatively low effect on output, with the fiscal multiplier around one in the year of the shock and the …
Persistent link: https://www.econbiz.de/10011671812
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The role of MPC heterogeneity for fiscal and monetary policy in the Euro Area
Albacete, Nicolas; Fessler, Pirmin; Pekanov, Atanas - 2024
Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an...
Persistent link: https://www.econbiz.de/10014486919
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A quantitative evaluation of the European commiccion's fiscal governance proposal
Darvas, Zsolt M.; Welslau, Lennard; Zettelmeyer, Jeromin - 2023
In the new European Union fiscal framework proposed by the European Commission in April 2023, medium-term fiscal adjustment requirements would be determined by country-by-country debt sustainability analysis (DSA), the 3 percent deficit ceiling and simple rules requiring minimum deficit and debt...
Persistent link: https://www.econbiz.de/10014372855