Narrow search
Showing 1 - 10 of 7,236
Cover Image
Fiscal devaluation in a monetary union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - 2014 - This version: 12.11.2013
Between 1999 and the onset of the economic crisis in 2008 real ex-change rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange...
Persistent link: https://www.econbiz.de/10010235320
Cover Image
Fiscal devaluation in a Monetary Union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - 2013
Between 1999 and the onset of the economic crisis in 2008 real exchange rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange rate...
Persistent link: https://www.econbiz.de/10010221275
Cover Image
The Role of Fiscal Policies for External Imbalances : Evidence from the European Union
Afonso, António; Coelho, José - 2021
two deficits is asymmetric and the negative impact of the recent Eurozone banking and sovereign debt crisis on the current … positive impact of the budget balance on the current account balance is higher in the cases of non-Eurozone countries, high … budget deficit countries, and low exports countries, whereas it is lower in the cases of Eurozone countries, low budget …
Persistent link: https://www.econbiz.de/10013247757
Cover Image
The role of fiscal policies for external imbalances : evidence from the European Union
Afonso, António; Coelho, José Carlos - 2021
two deficits is asymmetric and the negative impact of the recent Eurozone banking and sovereign debt crisis on the current … positive impact of the budget balance on the current account balance is higher in the cases of non-Eurozone countries, high … budget deficit countries, and low exports countries, whereas it is lower in the cases of Eurozone countries, low budget …
Persistent link: https://www.econbiz.de/10012504606
Cover Image
Macroprudential Policy in a Monetary Union with Cross-Border Banking
Darracq Pariès, Matthieu - 2019
We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area countries (i.e. Germany, France, Italy, and Spain),...
Persistent link: https://www.econbiz.de/10012889411
Cover Image
Fiscal stabilization in the United States : lessons for monetary unions
Nikolov, Plamen; Pasimeni, Paolo - 2019
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10011999069
Cover Image
State-of-play in implementing macroeconomic adjustment programmes in the euro area : short version
Gros, Daniel; Alcidi, Cinzia; Belke, Ansgar; Coutinho, … - 2014
makroökonomischen Anpassungsprogramme außerhalb der Eurozone (z.B. Lettland) waren noch viel strikter. Trotzdem erfolgte die Anpassung …
Persistent link: https://www.econbiz.de/10010349252
Cover Image
Capital Mobility and the Effectiveness of Fiscal Policy in Open Economies
Pierdzioch, Christian - 2003
This paper uses a dynamic general equilibrium two-country optimizing 'new-open economy macroeconomics? model to analyze the consequences of international capital mobility for the effectiveness of fiscal policy. Conventional wisdom suggests that higher capital mobility diminishes the...
Persistent link: https://www.econbiz.de/10010260628
Cover Image
Fiscal Policy, Consumption and Current Account in the European Countries
Magazzino, Cosimo - 2013
This paper explores the relationship between fiscal deficit, trade deficit and private consumption in European countries in the years 1970-2010. The aim of the study is to test empirically the validity and rationale of the Keynesian proposition (conventional view or Twin Deficits hypothesis) and...
Persistent link: https://www.econbiz.de/10013075322
Cover Image
Twin Deficits in the European Countries
Forte, Francesco - 2015
Public debt is a burden on future electors and taxpayers. In the absence of constitutional constraints, the incumbent government may show the cost of some public expenditures or tax reductions toward the future by financing them via new debt. However, according to the Ricardian theorem of public...
Persistent link: https://www.econbiz.de/10013034973