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Fiscal Federalism, EMU and Shock Absorption Mechanisms: A Guide to the Literature
ECSA-Austria: European Integration online Papers
Fiscal federalism theory seeks to establish the optimal organization of a government, confined by certain geographic boundaries. The implications of that theory for the monetary unification process are shortly inquired. The literature measuring the redistribution and stabilization effects of the...
Persistent link: https://www.econbiz.de/10009483193
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A reappraisal of the inflation-unemployment-productivity nexus: SKOPE Research Paper No. 38, Spring 2003
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2003
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff …
Persistent link: https://www.econbiz.de/10009441372
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On the Sources of the Inflationary Bias
Piga, Gustavo - 1998
Why do dynamic inconsistencies in monetary policy exist? In this paper we present a traditional model with output inefficiencies, but we allow for monetary policy to be influenced by the various constituencies in the economy, that pressure the Congress to in turn pressure the central bank to...
Persistent link: https://www.econbiz.de/10009472582
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The globalization of labor markets and its policy implications
Frank Oskamp - 2010
Since the 1990s, the effective global labor supply has increased strongly, in particular due to the integration of China and India into the global markets. This rise has also deteriorated the situation of low-skilled workers in advanced economies. This development raises important challenges for...
Persistent link: https://www.econbiz.de/10009428973
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Monetary and labor policies under market frictions
Christian Merkl - 2007
in East Germany after unification, the existence of unemployment traps, their influence on labor market persistence and …
Persistent link: https://www.econbiz.de/10009428998
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Essays in the Macroeconomics of Emerging Countries
Seoane, Hernan Daniel - 2011
This dissertation is a collection of essays with the main objective of estimate and understand macroeconomic behavior of emerging countries by the lenses of modern tools in general equilibrium modeling. In the first chapter, I study whether structural parameters of Small Open Economy Real...
Persistent link: https://www.econbiz.de/10009475388
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Optimal Monetary and Fiscal Policy for Small Open and Emerging Economies
Fasolo, Angelo Marsiglia - 2010
This dissertation computes the optimal monetary and fiscal policy for small open and emerging economies in an estimated medium-scale model. The model departs from the conventional approach as it encompasses all the major nominal and real rigidities normally found in the literature in a single...
Persistent link: https://www.econbiz.de/10009475440
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Monetary and Fiscal Policies in Currency Board Systems and Monetary Unions
Grimm, Oliver - 2007
In der vorliegenden Arbeit beschäftige ich mich mit der theoretischen Analyse von Geld- und Fiskalpolitik in Currency-Board-Systemen und der Währungsunion. Beide Währungssysteme haben seit den neunziger Jahren zunehmend an Bedeutung gewonnen, Currency Boards durch die Rückgewinnung der...
Persistent link: https://www.econbiz.de/10009476166
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Infliacijos teisinė analizė
Seniut, Eva - 2007
A high inflation rate is the main obstacle prohibiting euro lead into the state, that‘s why the inflation theme is the urgent one. We analyzed the inflation not only from the economic perspective, but from the legal side too. The changes of property forms, legal tends, extent of inflation,...
Persistent link: https://www.econbiz.de/10009478992
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Output volatility in developing countries
De Hart, Petrus Jacobus - 2008
Over the past few decades, many countries have experienced a marked decline in the volatility of output. However, there is still a significant difference between developed and developing countries in the level of output volatility. A proposed explanation for this phenomenon is the impact of...
Persistent link: https://www.econbiz.de/10009457744