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Monetary integration, fiscal divergence and current account imbalances in Europe

Schnabl, Gunther - In: The Economists' voice 15 (2018) 1, pp. 1-16

Persistent link: https://www.econbiz.de/10011964895

Modelling the G20

McKibbin, Warwick J.; Triggs, Adam - 2018

Persistent link: https://www.econbiz.de/10012202198

Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy

Lusinyan, Lusine; Muir, Dirk - International Monetary Fund (IMF) - 2013

Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor markets. Our analysis, based on the IMFâ€˜s Global Integrated Monetary and Fiscal model (GIMF), attempts to quantify the potential gains to the economy from a comprehensive...

Persistent link: https://www.econbiz.de/10011142132

Fiscal institutions, fiscal policy and sovereign risk premia

Hallerberg, Mark; Wolff, Guntram B. - 2006

increase risk premia measured by relative swap spreads. The effect of deficits is significantly lower under EMU. This effect …

Persistent link: https://www.econbiz.de/10010295824

How to restore sustainability of the Euro?

Alho, Kari E. O. - 2011

) by specifying an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result by … EMU and sustainability in the case, prevailing currently, where a high debt country should both restore its …

Persistent link: https://www.econbiz.de/10010326893

Fiscal Federalism, EMU and Shock Absorption Mechanisms: A Guide to the Literature

ECSA-Austria: European Integration online Papers

Fiscal federalism theory seeks to establish the optimal organization of a government, confined by certain geographic boundaries. The implications of that theory for the monetary unification process are shortly inquired. The literature measuring the redistribution and stabilization effects of the...

Persistent link: https://www.econbiz.de/10009483193

Could the Stability and Growth Pact be Substituted by the Financial Markets?

ECSA-Austria: European Integration online Papers

In the discussions on the need for fiscal rules and their usefulness in a monetary union, researchers have not agreed if financial markets have a sufficiently disciplining effect on governments, which would mean that the fiscal rules are not necessary. This paper investigates whether the...

Persistent link: https://www.econbiz.de/10009483205

Analysis of Fiscal Rules in the European Monetary Union

Šehović, Damir - In: Journal of Central Banking Theory and Practice 4 (2015) 1, pp. 19-33

The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific … features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common … internal market. Finally, the third segment refers to the fiscal policy coordination of the EMU member states related to …

Persistent link: https://www.econbiz.de/10012217803

Changes in the Response of Fiscal Policy to Monetary Policy in the EMU

Arora, Sanchit; Reicher, Claire - 2014

We study the evolution of the response of fiscal policy to monetary policy shocks in the EMU in the light of two … important events: the signing of the Maastricht treaty in 1992 and the introduction of the EMU in 1999. Based on impulse … policy acted as complements after the introduction of the EMU. These results holds for a set of 11 non-EMU countries as well …

Persistent link: https://www.econbiz.de/10010369612

Transatlantic Monetary and Fiscal Policy Interaction

van Aarle, Bas; Garretsen, Harry; Huart, Florence - 2003

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...

Persistent link: https://www.econbiz.de/10010316007