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Is fiscal policy coordination in EMU desirable?
Beetsma, Roel; Debrun, Xavier; Klaassen, Franc - 2001
It is widely argued that Europe's unified monetary policy calls for the international coordination at the fiscal level. We survey the issues involved with such coordination of fiscal policy as a demand management tool and we use a simple model to investigate the circumstances under which...
Persistent link: https://www.econbiz.de/10011400878
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Did the crisis change it all? : evidence from monetary and fiscal policy
Mitreska, Ana; Vojnovic, Maja Kadievska; Georgievska, Ljupka - Narodna Banka na Republika Makedonija / Direkcija za … - 2010
The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...
Persistent link: https://www.econbiz.de/10011622637
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The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity
Dubois, Robert - 2012
current crisis is the European Monetary Union (EMU) - a monetary union lacking fiscal and political integration. Such partial …
Persistent link: https://www.econbiz.de/10009503821
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009560040
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Fiscal Histories
Cochrane, John H. - National Bureau of Economic Research - 2022
The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of real primary surpluses. Monetary policy remains important. The central bank can set an interest rate target, which determines the path of expected inflation, while news about the...
Persistent link: https://www.econbiz.de/10013361983
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Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union
Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …
Persistent link: https://www.econbiz.de/10011410410
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Staying together or breaking apart : policy-makers' endogenous coalitions formation in the European Economic and Monetary Union
Di Bartolomeo, Giovanni; Engwerda, Jacob Christiaan; … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …
Persistent link: https://www.econbiz.de/10011597642
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Economic policy coordination in the EMU : how much scope will there be within the framework of the stability and growth pact?
Breuss, Fritz; Weber, Andrea - 1999
for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a … as a whole with the targets output gap and inflation. In the case of a "full" cooperation, where the 10 EMU countries … manoeuvre of fiscal policy of the EMU member states in stage III of EMU. Secondly, we find that not in all countries cooperation …
Persistent link: https://www.econbiz.de/10011491576
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Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement
Hein, Eckhard; Truger, Achim - 2006
In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...
Persistent link: https://www.econbiz.de/10003744530
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Quantitative Analyse der Auswirkungen wirtschaftspolitischer Massnahmen auf die Einkommensverteilung und das "neue magische Viereck" in der Schweiz
Hartwig, Jochen (contributor) - 2004 - [Elektronische Ressource]
Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal "Lucas critique" levelled against them, these models are still widely...
Persistent link: https://www.econbiz.de/10002202977