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Is fiscal policy coordination in EMU desirable?
Beetsma, Roel; Debrun, Xavier; Klaassen, Franc - 2001
It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...
Persistent link: https://www.econbiz.de/10011400878
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The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity
Dubois, Robert - 2012
current crisis is the European Monetary Union (EMU) - a monetary union lacking fiscal and political integration. Such partial …
Persistent link: https://www.econbiz.de/10009503821
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Is Fiscal Policy Coordination in Emu Desirable?
Beetsma, Roel M. W. J.; Debrun, Xavier; Klaassen, Franc - 2021
It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...
Persistent link: https://www.econbiz.de/10013320741
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Macroeconomic Stabilisation in the Emu : Rules Versus Institutions
Cavallari, Lilia; Di Gioacchino, Debora - 2004
This paper investigates the macroeconomic implications of different regimes of international fiscal coordination and monetary-fiscal cooperation in a monetary union with independent fiscal authorities that act strategically vis a vis a common central bank. In the presence of other policy goals...
Persistent link: https://www.econbiz.de/10014068253
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The Macroeconomic Policy Mix in a Monetary Union with Flexible Inflation Targeting
Andersen, Torben M. - 2003
Policy mix problems may arise in a monetary union with centralized monetary policy and decentralized fiscal policy. A consequence of this may be an inappropriate stabilization of shocks. This paper addresses how policy coordination problems are affected by the objectives of the monetary...
Persistent link: https://www.econbiz.de/10014094279
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The European Central Bank and Why Things are the Way They Are : A Historic Monetary Policy Pivot Point and Moment of (Relative) Clarity
Dubois, Robert - 2012
current crisis is the European Monetary Union (EMU) – a monetary union lacking fiscal and political integration. Such partial …
Persistent link: https://www.econbiz.de/10013109818
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Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union
Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …
Persistent link: https://www.econbiz.de/10011410410
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Economic policy coordination in the EMU : how much scope will there be within the framework of the stability and growth pact?
Breuss, Fritz; Weber, Andrea - 1999
for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a … as a whole with the targets output gap and inflation. In the case of a "full" cooperation, where the 10 EMU countries … manoeuvre of fiscal policy of the EMU member states in stage III of EMU. Secondly, we find that not in all countries cooperation …
Persistent link: https://www.econbiz.de/10011491576
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Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement
Hein, Eckhard; Truger, Achim - 2006
In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...
Persistent link: https://www.econbiz.de/10003744530
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Restoring Stability to Europe
Shelburne, Robert C. - 2013
The eurozone is in political and economic crisis. This is due to the inadequate design of the institutional structure of the eurozone and to the current poor implementation of macroeconomic policy. In designing the eurozone, well established principles of economics were ignored and major...
Persistent link: https://www.econbiz.de/10013080282