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The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a macroeconomic policy instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of the fiscal multiplier and the fact that monetary policy...

Persistent link: https://www.econbiz.de/10011477456

Designing the Policy Mix in a Monetary Union

Kempf, Hubert - 2020

This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...

Persistent link: https://www.econbiz.de/10012832189

A stronger CEE for a stronger Europe

Wieser, Thomas; Grieveson, Richard; Holzner, Mario - 2024

Authority to enable freer movement of capital; high-quality implementation of anti-money-laundering processes and institutions … support of a regional capital market; promotion of deeper national capital markets by boosting the second and third pillars of … pension systems, while retaining their pay-as-you-go systems; regional cooperation among venture capital funds, supported by …

Persistent link: https://www.econbiz.de/10014555560

Gross fixed capital formation in the euro area during the COVID-19 pandemic

Licchetta, Mirko; Meyermans, Eric - In: Intereconomics : review of European economic policy 57 (2022) 4, pp. 238-246

This paper examines the impact of the COVID-19 pandemic on gross fixed capital formation across the euro area. The …

Persistent link: https://www.econbiz.de/10013347704

Fiscal rules and public investment

Perée, Eric; Välilä, Timo - 2005

This paper examines the link between fiscal rules and public investment both normatively and empirically. We first review the arguments for and against including public investment spending in a fiscal deficit rule. We then seek to assess the determinants of public investment, with a special...

Persistent link: https://www.econbiz.de/10008939538

Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery

Truger, Achim - 2015

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of tightening the fiscal constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in this study would be one important element of the...

Persistent link: https://www.econbiz.de/10011336549

Making public finances more growth and equity-friendly in the euro area

Pina, Álvaro Manuel - 2016

performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment …

Persistent link: https://www.econbiz.de/10011577852

U.S. And Euro Area Monetary and Fiscal Interactions During the Pandemic : A Structural Analysis

Hodge, Andrew; Jakab, Zoltan; Lindé, Jesper; Nguyen, … - 2022

This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of “below, but close to 2 percent” to a formal...

Persistent link: https://www.econbiz.de/10014237881

Fiscal federalism in crisis : lessons for Europe from the US

Darvas, Zsolt M. - 2010

The euro area is facing crisis, while the US is not, though the overall fiscal situation and outlook is better in the euro area than in the US, and though the US faces serious state-level fiscal crises. A higher level of fiscal federalism would strengthen the euro area, but is not inevitable....

Persistent link: https://www.econbiz.de/10008668706

Fiscal delegation in a monetary union with decentralized public spending

Basso, Henrique S.; Costain, James - 2016

In a monetary union, the interaction between several governments and a single central bank is plagued by several sources of deficit bias, including common pool problems. Each government has strong preferences over local spending and taxation but suffers only part of the costs of union-wide...

Persistent link: https://www.econbiz.de/10011434438

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