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The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …

Persistent link: https://www.econbiz.de/10013081055

The macroeconomic policy challenges of balance sheet recession : lessons from Japan for the European crisis

Schnabl, Gunther - 2013

Persistent link: https://www.econbiz.de/10009743745

Staying together or breaking apart: Policy-makers' endogenous coalitions formation in the European Economic and Monetary Union

Di Bartolomeo, Giovanni; Engwerda, Jacob; Plasmans, Joseph - 2002

In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...

Persistent link: https://www.econbiz.de/10011335731

Fiskalische Transfermechanismen und asymmetrische Schocks in Euroland

Belke, Ansgar; Baumgärtner, Frank - In: Vierteljahrshefte zur Wirtschaftsforschung 71 (2002) 3, pp. 384-399

Die Diskussion über die Wahrscheinlichkeit asymmetrischer Schocks in Europa hat trotz Gründung der Europäischen Wirtschafts- und Währungsunion an Aktualität nicht verloren. In diesem Beitrag wird daher die Frage gestellt, welche fiskalischen Anpassungsmechanismen geeignet sind, solche...

Persistent link: https://www.econbiz.de/10010377584