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Monetary/fiscal policy regimes in post-war Europe
Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023
In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...
Persistent link: https://www.econbiz.de/10014482924
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The economic and monetary union : past, present and future
Dąbrowski, Marek - 2019
Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...
Persistent link: https://www.econbiz.de/10012029380
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The euro crisis and economic growth : a novel counterfactual approach
Terzi, Alessio - 2019 - This Draft: 25 June 2019
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone’s specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …
Persistent link: https://www.econbiz.de/10012033212
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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dąbrowski, Marek - 2012
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also … ; Eurozone ; Maastricht Treaty ; European Central Bank ; Euro ; Fiscal union …
Persistent link: https://www.econbiz.de/10009572988
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The implementation of monetary and fiscal rules in the EMU : a welfare-based analysis
Argentiero, Amedeo - 2009
This paper implements a methodology to evaluate the desiderability of monetary and fiscal rules within the context of the EMU using a DSGE model within a New Keynesian framework with sticky prices. The approach adopted is a welfare-based criterion that measures the welfare losses associated with...
Persistent link: https://www.econbiz.de/10011373511
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Business cycle convergence in EMU : a second look at the second moment
Crespo Cuaresma, Jesús; Fernández-Amador, Octavio - 2010
synchronization patterns in business cycles. The Eurozone has converged to a stable lower level of dispersion across business cycles …
Persistent link: https://www.econbiz.de/10011374387
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Business cycle convergence in EMU : a first look at the second moment
Crespo-Cuaresma, Jesús; Fernández-Amador, Octavio - 2010
We propose the analysis of the dynamics of the standard deviation of business cycles across euro area countries in order to evaluate the patterns of cyclical convergence in the European Monetary Union for the period 1960-2008. We identify significant business cycle divergence taking place in the...
Persistent link: https://www.econbiz.de/10011374389
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Making the Euro viable : the Euro treasury plan
Bibow, Jörg - 2015
a vehicle to pool future eurozone public investment spending and to have it funded by proper eurozone treasury …
Persistent link: https://www.econbiz.de/10011309515
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A minimal moral hazard central stabilisation capacity for the EMU based on world trade
Beetsma, Roel; Cima, Simone; Cimadomo, Jacopo - 2018
Recent debate has focused on the introduction of a central stabilisation capacity as a completing element of the Economic and Monetary Union. Its main objective would be to contribute cushioning country-specific economic shocks, especially when national fiscal stabilisers are run down. There are...
Persistent link: https://www.econbiz.de/10011810026
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Business cycle convergence in EMU : a second look at the second moment
Crespo Cuaresma, Jesús; Fernández-Amador, Octavio - 2010
synchronization patterns in business cycles. The Eurozone has converged to a stable lower level of dispersion across business cycles …
Persistent link: https://www.econbiz.de/10009737084