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How much discretion should the monetary authority have in setting its policy? This question is analyzed in an economy with an agreed-upon social welfare function that depends on the randomly fluctuating state of the economy. The monetary authority has private information about that state. In the...
Persistent link: https://www.econbiz.de/10009639392
The analysis of the macroeconomic impact of fiscal policies in the euro area has been traditionally limited by the absence of quarterly fiscal data. To overcome this problem, we provide two new databases in this paper. Firstly, we construct a quarterly database of euro area fiscal variables for...
Persistent link: https://www.econbiz.de/10009640447
This paper studies welfare consequences of a soft borrowing constraint on sovereign debt which is modeled as a proportional fine per unit of debt exceeding some reference value. Debt is the result of myopic fiscal policy where the government is assumed to have a smaller discount factor than the...
Persistent link: https://www.econbiz.de/10009640642
poverty eradication made by the International Community in the UN Millennium Declaration. They include halving world poverty … levels alike – which is conducive to development and the elimination of poverty.” The developed countries had to ease market …
Persistent link: https://www.econbiz.de/10011998850
Persistent link: https://www.econbiz.de/10012036334
Poverty among Roma remains one of the most pressing issues for Central and Eastern European states as they move toward … nature of Roma poverty-a multifaceted challenge that can only be addressed by a policy approach that attends to all … overnight. Indeed, poverty among Roma communities in some West European countries highlights the scope of the challenge …
Persistent link: https://www.econbiz.de/10009636922
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developing countries as a means of reducing poverty; - Securing energy supplies to the EU; - Improving nuclear safety in the … Former Soviet Union (FSU). The first goal is increasingly perceived as an important dimension of the fight against poverty …
Persistent link: https://www.econbiz.de/10009638735
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