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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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Policy response to external shocks: Lessons from the crisis
Capistrán, Carlos; Cuadra, Gabriel; Ramos-Francia, Manuel - 2011
external financing and its negative effects on the domestic economy. The experience of emerging economies through the recent …
Persistent link: https://www.econbiz.de/10010322619
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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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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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International policy transmissions before and after establishing a monetary union
Rumler, Fabio - 1999
This paper analyzes the effects of the implementation of a monetary union on the international transmission of monetary and fiscal policies. A dynamic three-country general equilibrium model, exhibiting monopolistic competition and sticky prices, is used to show how asymmetric monetary and...
Persistent link: https://www.econbiz.de/10010291919
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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
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The effects of legislated tax changes in Germany
Hayo, Bernd; Uhl, Matthias - 2011
This paper studies the short-run macroeconomic effects of legislated tax changes in Germany using a vector autoregression (VAR) approach. Identification of the tax shock follows the narrative approach recently proposed by Romer and Romer (2010). Results indicate a moderate, but statistically...
Persistent link: https://www.econbiz.de/10010286390