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Taxation, corruption and the exchange rate regime
Hefeker, Carsten - 2009
The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption … countries with regard to the level of corruption. …
Persistent link: https://www.econbiz.de/10010264571
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Taxation, corruption and the exchange rate regime
Hefeker, Carsten - 2009
countries with regard to the level of corruption. -- Exchange rate regime ; monetary policy ; fiscal policy ; seigniorage …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …
Persistent link: https://www.econbiz.de/10003808666
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Taxation, corruption and the exchange rate regime
Hefeker, Carsten - 2009
; Seigniorage, Corruption ; Developing and Transition Countries …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …
Persistent link: https://www.econbiz.de/10003852200
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Taxation, corruption and the exchange rate regime
Hefeker, Carsten - 2008
countries with regard to the level of corruption. -- Exchange Rate Regime ; Monetary Policy ; Fiscal Policy ; Seigniorage …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …
Persistent link: https://www.econbiz.de/10009161926
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Was Anna Schwartz right? : the role of government size and the exchange rate regime for macroeconomic stability
Wegmueller, Philipp - 2014
I contribute to the resurging debate on the reform of the international monetary system by asking: How does the size of the public sector under different exchange rate regimes affect macroeconomic stability and welfare? In response to a meeting of the Bretton Woods Commission in 1993, renowned...
Persistent link: https://www.econbiz.de/10010402224
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The economic and monetary union : past, present and future
Dąbrowski, Marek - 2019
Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...
Persistent link: https://www.econbiz.de/10012029380
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The size of fiscal multipliers and the stance of monetary policy in developing economies
Ojeda-Joya, Jair N.; Guzman, Oscar E. - 2017 - This version: February 2017
In this paper we estimate the effect of government consumption shocks on GDP using a panel of 21 developing economies. Our goal is to better understand the reasons for the low fiscal multipliers found in the literature by performing estimations for alternative exchange rate regimes,...
Persistent link: https://www.econbiz.de/10011620815
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The size of fiscal multipliers and the stance of monetary policy in developing economies
Ojeda-Joya, Jair N.; Guzman, Oscar E. - 2017 - This version: May 2017
In this paper we estimate the effect of government consumption shocks on GDP using a panel of 21 developing economies. Our goal is to better understand the reasons for the low fiscal multipliers found in the literature by performing estimations for alternative exchange rate regimes,...
Persistent link: https://www.econbiz.de/10011659285
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Fiscal transfers in a monetary union with exit option
Hefeker, Carsten; Neugart, Michael - 2015
It is widely debated whether a monetary union has to be accompanied by a fiscal transfer scheme to accommodate asymmetric shocks. We build a model of a monetary union with a central bank and two heterogeneous countries that are linked by a fiscal transfer scheme with repercussions on monetary...
Persistent link: https://www.econbiz.de/10010492336
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Monetary and Fiscal Policy Interactions in the Euro Area
Carlberg, Michael - 2004
This paper studies the interactions between monetary and fiscal policies in the euro area. The focus is on the union central bank, the German government, and the French government. The policy targets are price stability in the union, full employment in Germany, and full employment in France. The...
Persistent link: https://www.econbiz.de/10010296372