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The implementation of monetary and fiscal rules in the EMU : a welfare-based analysis
Argentiero, Amedeo - 2009
This paper implements a methodology to evaluate the desiderability of monetary and fiscal rules within the context of the EMU using a DSGE model within a New Keynesian framework with sticky prices. The approach adopted is a welfare-based criterion that measures the welfare losses associated with...
Persistent link: https://www.econbiz.de/10011373511
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Addressing systemic risk in Europe during Covid-19 : the role of regulation and the policy mix
Dotta, Vitor - 2022
lessons learned in the global financial crises and the Eurozone debt crises, there's an increasing role of macroprudential …
Persistent link: https://www.econbiz.de/10013188926
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The implementation of monetary and fiscal rules in the EMU : a welfare-based analysis
Argentiero, Amedeo - 2009
Persistent link: https://www.econbiz.de/10003940251
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012843420
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The Euro area periphery sovereigns' fiscal positions and unconventional monetary policy
Hülsewig, Oliver; Scharler, Johann - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012154910
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Fiscal Policies and Business Cycles in an Enlarged Euro Area
Staehr, Karsten - 2008
This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future … counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from … the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease …
Persistent link: https://www.econbiz.de/10012772398
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Fiscal Policies and Business Cycles in an Enlarged Euro Area
Staehr, Karsten - 2008
This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future … counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from … the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease …
Persistent link: https://www.econbiz.de/10012773620
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This time is different : fiscal response to the COVID-19 pandemic among EU countries
Bökemeier, Bettina; Wolski, Marcin - 2022
This paper empirically analyses fiscal policy behavior in the European Union (EU) Member States and assesses how it has changed during the recent pandemic crisis compared to previous crisis situations. Based on panel estimations the outcomes reveal that this time is different, both concerning...
Persistent link: https://www.econbiz.de/10012814554
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Monetary-fiscal policy relations in the euro area : the impact on the primary balance
Dascher-Preising, Fabienne; Greiner, Alfred - 2022
With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...
Persistent link: https://www.econbiz.de/10013335018
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The macroeconomic effects of fiscal consolidation in dynamic general equilibrium
Schwarzmüller, Tim; Wolters, Maik H. - 2014
We provide a systematic analysis of fiscal consolidation in a medium-scale dynamic general equilibrium model. Our results show that the choice of the consolidation instrument is very important, not only with respect to the short- and long-run output effects of the different consolidation...
Persistent link: https://www.econbiz.de/10010416675