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COORDINATION OF FISCAL POLICIES IN A MONETARY UNION
Díaz-Roldán, Carmen - Asociación Española de Economía y Finanzas … - 2000
This paper examines how the member countries of a monetary union react to country-specific shocks and to shocks from the rest of the world, when the budget deficit is the only policy instrument available. We develop a three-country model in which countries show different preferences regarding...
Persistent link: https://www.econbiz.de/10008493827
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The optimality of a monetary union without a fiscal union
Bovenberg, A.L.Bovenberg; Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1998
Persistent link: https://www.econbiz.de/10011091080
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Oil and Gas in Mexico
Carreón Rodríguez, Víctor Gerardo; Rosellón, Juan - Centro de Investigación y Docencia Económicas (CIDE) - 2012
Mexico is a highly centralized federation. The states and municipalities are highly dependent on federal transfers and … so equally at risk to the country’s fiscal dependence on oil. Although Mexico has become more truly federal since … paper we discuss measures to promote Pemex’ development in the context of Mexico’s federal system, such as: (i) the …
Persistent link: https://www.econbiz.de/10010699619
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Oil and Gas in Mexico
Carreón Rodríguez, Víctor Gerardo; Rosellón, Juan - Centro de Investigación y Docencia Económicas (CIDE) - 2012
Mexico is a highly centralized federation. The states and municipalities are highly dependent on federal transfers and … so equally at risk to the country’s fiscal dependence on oil. Although Mexico has become more truly federal since … paper we discuss measures to promote Pemex’ development in the context of Mexico’s federal system, such as: (i) the …
Persistent link: https://www.econbiz.de/10010685971
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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Automatic Stabilisers and Market Flexibility in EMU: Is There A Trade-Off?
Buti, Marco; Martinez-Mongay, Carlos; Sekkat, Khalid; … - Economics Department, Organisation de Coopération et … - 2002
It is often claimed that tax and welfare reforms that aim at enhancing efficiency may come at the cost of cyclical stabilisation. Reducing the generosity of welfare systems and lowering taxes may boost efficiency and output, and improve market adjustment to shocks. But, by reducing the size of...
Persistent link: https://www.econbiz.de/10005046223
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Government deficits in large open economies: The problem of too little public debt
Buiter, Willem H.; Sibert, Anne C. - 2015
Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. The authors consider a dynamic optimising model with costly tax collection and exogenously given public...
Persistent link: https://www.econbiz.de/10011314037
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Government deficits in large open economies: The problem of too little public debt
Buiter, Willem H.; Sibert, Anne C. - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-2, pp. 1-39
Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. The authors consider a dynamic optimising model with costly tax collection and exogenously given public...
Persistent link: https://www.econbiz.de/10011417371
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Government budget deficits in large open economies
Buiter, Willem H.; Sibert, Anne C. - 2011
Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. We consider a dynamic optimising model with costly tax collection and exogenously given public spending and...
Persistent link: https://www.econbiz.de/10010274920
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Debt rule design in theory and practice: The SGP's debt benchmark revisited
Hauptmeier, Sebastian; Kamps, Christophe - 2020
This paper is linked to two debates on fiscal policies: first, the implications of low interest-growth differentials for debt sustainability and, second, the reform of the EU fiscal governance framework. In both debates the choice of government debt anchor and the speed of adjustment take centre...
Persistent link: https://www.econbiz.de/10012422041