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Do real interest rates converge? Evidence from the European Union

Arghyrou, Michael G.; Gregoriou, Andros; Kontonikas, … - 2007

We test for real interest rate convergence in the EU25 area. Our contribution is twofold: first, we account for the … have important implications relating to the single monetary policy and the progress new EU members have achieved towards …

Persistent link: https://www.econbiz.de/10010322794

European Fiscal Union: What Is It? Does It Work? And Are There Really 'No Alternatives'?

Fuest, Clemens; Peichl, Andreas - 2012

The view is widespread that there are just two options for the future of the Eurozone - either it is complemented by a fiscal union, or it will fall apart. In this paper, we discuss five possible elements of a fiscal union, of which three are in the centre of the current debate on fiscal union...

Persistent link: https://www.econbiz.de/10010331439

What do we really know about fiscal sustainability in the EU? A panel data diagnostic

Afonso, António; Rault, Christophe - 2007

We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006). …

Persistent link: https://www.econbiz.de/10011604866

Fiscal policy and growth: do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10011605263

What do we really know about fiscal sustainability in the EU?: a panel data diagnostic

Afonso, António; Rault, Christophe - 2008

We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …

Persistent link: https://www.econbiz.de/10010264310

Spend-and-tax : a panel data investigation for the EU

Afonso, António; Rault, Christophe - 2009

, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …

Persistent link: https://www.econbiz.de/10010276304