Narrow search
Showing 1 - 10 of 4,702
Cover Image
Economic Stability and Economic Governance in the Euro Area : What the European Crisis Can Teach on the Limits of Economic Integration
Lupo-Pasini, Federico - 2013
place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on …
Persistent link: https://www.econbiz.de/10013085690
Cover Image
Political Economics and Macroeconomic Policy
Persson, Torsten; Tabellini, Guido - 2008
This paper surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...
Persistent link: https://www.econbiz.de/10014070302
Cover Image
Chapter 22 Political economics and macroeconomic policy
Persson, Torsten; Tabellini, Guido - In: Handbook of macroeconomics : volume 1, part C, (pp. 1397-1482). 1999
This chapter surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...
Persistent link: https://www.econbiz.de/10014024218
Cover Image
A theory of economic policy lock-in and lock-out via hysteresis : rethinking economists' approach to economic policy
Palley, Thomas I. - 2016
dialed up or down, depending on the economy's state. Lock-in policy is illustrated by the euro, globalization, and the …
Persistent link: https://www.econbiz.de/10011572435
Cover Image
A theory of economic policy lock-in and lock-out via hysteresis: rethinking economists' approach to economic policy
Palley, Thomas I. - 2017
illustrated with examples that include tax policy, government spending, the euro, globalization, and the neoliberal policy …
Persistent link: https://www.econbiz.de/10011669507
Cover Image
The ECB as a Strategic Actor : Central Banking in a Politically Fragmented Monetary Union
Henning, C. Randall - 2015
between fiscal and monetary dominance early in the euro crisis (Buiter 2010, drawing on Sargent and Wallace 1981). This paper … for dominance, political fragmentation of the euro area prevented such bargains during the crisis. Strategic behavior … crises and continues to play out as the euro area seeks to complete the architecture of the monetary union. Deflation …
Persistent link: https://www.econbiz.de/10013030634
Cover Image
Digital Euro, Monetary Objects and Price Stability—a Legal Analysis
Zellweger-Gutknecht, Corinne; Geva, Benjamin; … - 2021
complement—a digital euro—becomes increasingly necessary. Accordingly, the article concludes that the ECB is both entitled and … obliged de lege lata to issue a digital euro on the basis of Article 128 TFEU. It further explains that neither tangible cash … nor a digital euro can simultaneously be used as instruments in themselves to maintain price stability …
Persistent link: https://www.econbiz.de/10013230072
Cover Image
Credibility, flexibility and renewal: The evolution of inflation targeting in Canada
Carter, Thomas J.; Mendes, Rhys R.; Schembri, Lawrence - 2018
In 1991, Canada became the second country to adopt an inflation target as a central pillar of its monetary policy framework. The regime has proven much more successful than initially expected, both in achieving price stability and in stabilizing the real economy against a wide range of shocks....
Persistent link: https://www.econbiz.de/10012029831
Cover Image
Unions power, collective bargaining and optimal monetary policy
Faia, Ester (contributor); Rossi, Lorenza (contributor) - 2008
We study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labour markets. Collective wage bargaining and unions monopoly power tend to dampen wage fluctuations and to amplify employment fluctuations relatively to a DNK model with walrasian...
Persistent link: https://www.econbiz.de/10003811855
Cover Image
Computing optimal policy in a timeless-perspective : an application to a small-open economy
Juillard, Michel (contributor); Pelgrin, Florian (contributor) - 2007
Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution. However, one main...
Persistent link: https://www.econbiz.de/10003472896