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This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

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Fiscal stabilization in the United States : lessons for monetary unions

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Monetary and fiscal policy in a large asymmetric monetary Union : a dynamic three-country analysis

Clausen, Volker (contributor); … - 2005

This paper analyzes the dynamic effects of anticipated monetary and fis- cal policies in a large monetary union, which is characterized by asym- metric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda...

Persistent link: https://www.econbiz.de/10003235924