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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

Money, Regulation and Growth: Financing New Growth in Europe

Bruni, Franco; Ganchev, Gancho; Tsenkov, Vladimir; … - 2014

On June 4-5, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference “Money, Regulation and Growth: Financing New Growth in Europe” at Bocconi University, Milan. The present SUERF Study includes a selection of papers based on the authors’ contributions to the Milan...

Persistent link: https://www.econbiz.de/10011689965

The peso appreciation and monetary-fiscal coordination

Sicat, Gerardo P. - 2012

The Philippine peso appreciation has been creating serious problems for the economy because of the high degree of …

Persistent link: https://www.econbiz.de/10010333558

Monetary and fiscal policy dynamics in an asymmetric monetary union

Clausen, Volker; Wohltmann, Hans-Werner - 2002

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

Persistent link: https://www.econbiz.de/10010302273

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

What accounts for the changes in U.S. fiscal policy transmission?

Bilbiie, Florin O.; Meier, André; Müller, Gernot J. - 2006

Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...

Persistent link: https://www.econbiz.de/10011604628

Fiscal policy in a monetary economy with capital and finite lifetime

Annicchiarico, Barbara; Giammarioli, Nicola; … - 2006

This paper develops a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite lifetimes. The framework exhibits intergenerational wealth effects and is intended to investigate the macroeconomic implications of fiscal policy, which is specified by...

Persistent link: https://www.econbiz.de/10011604707

Fiscal convergence before entering the EMU

Onorante, Luca - 2006

The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...

Persistent link: https://www.econbiz.de/10011604710

Exit strategies

Angeloni, Ignazio; Faia, Ester; Winkler, Roland C. - 2011

We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using the model of Angeloni and Faia (2010), that combines a standard DSGE framework with a fragile banking sector, suitably modified and calibrated for the euro area. Credibly announced and fast fiscal...

Persistent link: https://www.econbiz.de/10010277270

Iceland's financial crisis in an international perspective

Halldorsson, Olafur G. - 2010

Persistent link: https://www.econbiz.de/10014306487

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