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Fiscal Stabilization in the United States: Lessons for Monetary Unions

Nikolov, Plamen; Pasimeni, Paolo - 2019

The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...

Persistent link: https://www.econbiz.de/10012148930

Verstärkt die „Große Rezession“ das Auseinanderdriften der Wettbewerbsfähigkeit in der EU?

Breuss, Fritz - 2009

At its 10th anniversary the EMU had to stand the baptism of fire caused by the "Great Recession" 2009. By and large it …

Persistent link: https://www.econbiz.de/10011379786

Measuring financial integration in the euro area

Baele, Lieven; Ferrando, Annalisa; Hördahl, Peter; … - 2004

In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...

Persistent link: https://www.econbiz.de/10011606166

A euro area macroeconomic stabilisation function: Assessing options in view of their redistribution and stabilisation properties

Koester, Gerrit; Sondermann, David - 2018

central role in the debate on deepening Economic and Monetary Union (EMU). We evaluate a broad range of options, their impact …

Persistent link: https://www.econbiz.de/10011972279

Euro – How Big a Difference: Finland and Sweden in Search of Macro Stability

Suni, Paavo; Vihriälä, Vesa - 2013

particularly interesting testing ground for the benefits of the EMU. The average growth rates were rather similar before the Great … fared somewhat better than Finland in the EMU period. We assess the effects of the regime choice by simulating the behaviour … joined the EMU in 1999. The simulation exercise suggests that the independent monetary regime reduced the impact of the …

Persistent link: https://www.econbiz.de/10012037627

EMU-eron vaikutukset: Simulointeja NiGEM-mallilla

Suni, Paavo - 2014

A withdrawal of a member state from the EMU due to market pressure has been a rather popular topic in the public debate … the report, the effects of the potential withdrawal of Greece, one of the weakest economies in the EMU, is studied first …

Persistent link: https://www.econbiz.de/10012037659

Measurement of Costs and Benefits of Accession to the European Union for Selected Countries in Central and Eastern Europe

Mortensen, Jorgen; Richter, Sandor - 2000

research focused particularly on the impact of the emerging EMU and on the application of the CAP, Structural Funds and the …

Persistent link: https://www.econbiz.de/10012100001

The bail-out!: Positive political economics of Greek-type crises in the EMU

Fahrholz, Christian; Wojcik, Cezary - 2010

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process … with a future moral hazard problem. Based on our analysis, we suggest that the EMU's institutional design could be improved … negotiation processes as well as the conditions and parameters on which the scope and limits of fiscal redistribution in EMU …

Persistent link: https://www.econbiz.de/10011430854

Euro zone crisis and EU governance: Tackling a flawed design and inadequate policy arrangements

Daianu, Daniel - 2012

This paper focuses on roots of strain in the European Monetary Union (EMU). It argues that there is need for a thorough …-connectedness. Moreover, the EMU was sub-optimal from its debut and competitiveness gaps did not diminish against the backdrop of its … private sector and poor lending by banks, as well as a one-sided monetary policy, also explain this debacle. The EMU needs to …

Persistent link: https://www.econbiz.de/10011430884

Towards a single performance indicator in the EU's fiscal governance framework: An assessment of the expenditure and structural balance rules in the European fiscal governance fram...

Benalal, Nicholai; Freier, Maximilian; Melyn, Wim; Van … - 2022

A key element of the European reform agenda is to simplify the EU fiscal governance framework by moving towards a single debt anchor and a single operational indicator as the basis for formulating fiscal targets and assessing compliance. This paper puts forward an in-depth analysis of two...

Persistent link: https://www.econbiz.de/10013331895