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The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
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to pursue stability for the aggregate eurozone, fiscal policies failed to contain macroeconomic divergence across the …
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calibration results show that consumption multipliers to be small and negative. However, the output multiplier is positive and …
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Monetary Union (EMU). I use panel regressions for a total of 14 EMU economies from 1997 to 2022. Government spending shocks are …
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