Narrow search
Showing 1 - 10 of 27,383
Cover Image
National fiscal stimulus packages and consolidation strategies in a monetary union
Bierbrauer, Christoph - 2017 - This Draft: October 29, 2017
We present a two-country New Open Economy Macroeconomics model of a currency union featuring an overlapping generations structure of the Blanchard (1985)-Yaari (1965) type as well as monopolistic frictions and staggered adjustment in the goods and labor market. We allow for public investment and...
Persistent link: https://www.econbiz.de/10011752148
Cover Image
Stabilization and the Policy Mix in a Monetary Union
Malmierca, María - 2020
The need for macroprudential policy to “lean against the wind” of credit cycles at the aim of financial and hence macroeconomic stability is a common belief. Which design of macroprudential policy might attain the greatest stability for the economy is still an open debate. This paper builds...
Persistent link: https://www.econbiz.de/10012841094
Cover Image
Before and after the Emu : Financial Integration, Monetary Policy and Welfare Changes
Abrantes-Metz, Rosa M. - 2005
This paper studies the welfare impact of a common monetary policy in the context of a two-country, general equilibrium model with liquidity effect and nominal wage contracts, heterogeneous agents, imperfect competition in the labor market, trade in goods, immobility of labor and mobility of...
Persistent link: https://www.econbiz.de/10014068138
Cover Image
Estimating regime dependent fiscal spillover effects in a monetary union
Kunzmann, Vanessa - 2023
policy varies between inflation targeting and restrained price level determination. I find that spillover multipliers are …
Persistent link: https://www.econbiz.de/10014335117
Cover Image
A HANK2 model of monetary unions
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - 2023
Persistent link: https://www.econbiz.de/10014326986
Cover Image
A HANK2 model of monetary unions
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - 2023
How does a monetary union alter the impact of business cycle shocks at the household level? We develop a Heterogeneous Agent New Keynesian model of two countries (HANK2) and show in closed form that a monetary union shifts the adjustment to a shock horizontally - across countries - within the...
Persistent link: https://www.econbiz.de/10014305671
Cover Image
Budget-neutral fiscal rules targeting inflation differentials
Brede, Maren - 2016
In light of persistent in ation dispersion and rising debt levels in the EMU, this paper investigates the welfare implications of budget-neutral scal policies that counteract in ation di erentials. In a two-country DSGE model of a monetary union with traded and non-traded goods a national scal...
Persistent link: https://www.econbiz.de/10011437921
Cover Image
Despite crises, the stability of the euro is rooted in the middle class
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - In: DIW weekly report : economy, politics, science : a … 13 (2023) 29/31, pp. 217-222
In the 24 years since its introduction, the euro has experienced a financial crisis, a government debt crisis, a global pandemic, and an energy crisis-and survived. Using a model focusing on households, this Weekly Report shows that the monetary union’s stability is rooted in the fact that the...
Persistent link: https://www.econbiz.de/10014362756
Cover Image
Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …
Persistent link: https://www.econbiz.de/10013136243
Cover Image
MUSE: Monetary Union and Slovak Economy model
Senaj, Matúš; Výškrabka, Milan; Zeman, Juraj - In: Ekonomický časopis : časopis pre ekonomickú … 60 (2012) 5, pp. 435-459
Persistent link: https://www.econbiz.de/10010189685