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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/10011605002
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Where next for monetary policy? Lessons from the financial crisis and the pandemic
Minford, Patrick - 2023
Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...
Persistent link: https://www.econbiz.de/10014480560
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Finland and Its Northern Peers in the Great Recession
Suni, Paavo; Vihriälä, Vesa - 2016
exceptional negative shocks in combination with a too weak capacity of the economy to improve its cost competitiveness in the …
Persistent link: https://www.econbiz.de/10012037669
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The lessons from QE and other "unconventional" monetary policies: Evidence from the Bank of England
Lyonnet, Victor; Werner, Richard A. - 2011
indicates that QE as defined and announced in March 2009 had no apparent effect on the UK economy. Meanwhile, it is found that a …
Persistent link: https://www.econbiz.de/10010308568
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Estimating the output gap to support the management of interest rates in Vietnam
2014
In this paper, I apply three methods to estimate the output gap for Vietnam to support the conduct of monetary policy … the estimation of the output gap for the State Bank of Vietnam. For the Bayesian approach, my paper closedly relies on the … paper of Tim Willems (2011) with some modifications to fit the situation of Vietnam. The output gap estimated by Bayesian …
Persistent link: https://www.econbiz.de/10011381207
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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/10011605037
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Fiscal Reform and Monetary Union in West Africa
Hefeker, Carsten - 2003
The paper explores the interaction between the proposed monetary union for ECOWAS and structural reforms of fiscal policy. The effects depend to a large extent on the degree of similarity of member countries. In a monetary union of similar countries, member states run a more distortive fiscal...
Persistent link: https://www.econbiz.de/10010295326
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What determines fiscal policy? Evidence from German states
Berger, Helge; Holler, Anika - 2007
This paper explores the factors behind the time path of real spending and revenue in the West German states from 1975 to 2004. The empirical approach stresses robustness and takes into account a large set of economic and political variables. Our results suggest that common economic factors and,...
Persistent link: https://www.econbiz.de/10010299142
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Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik
Heimberger, Philipp - 2016
Wirtschaftsräume wird in zwei Dimensionen analysiert; zum einen anhand eines Überblicks zur Geldpolitik der EZB nach dem Ausbruch der … Wachstum und Beschäftigung, was die Eurozonenwirtschaft im Zusammenspiel mit der über weite Strecken zögerlichen Geldpolitik … der Finanzkrise zu einer rascheren und umfassenderen Erholung von Wirtschaftswachstum und Beschäftigung …
Persistent link: https://www.econbiz.de/10012100198
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Makroökonomische Politik in Deutschland, Großbritannien und Schweden
Hein, Eckhard; Truger, Achim - In: Wirtschaftsdienst 87 (2007) 11, pp. 732-741
Großbritannien und Schweden haben den Abschwung 2000/2001 weitaus besser bewältigt als Deutschland. Gleichzeitig verkörpern diese beiden Länder grundsätzlich verschiedene Kapitalismusmodelle. Wie unterschied sich der makroökonomische Politik-Mix in den drei Ländern? Sollten...
Persistent link: https://www.econbiz.de/10010283031