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A Case for Fiscal Policy Co-ordination in Europe

Catenaro, Marco - Dipartimento di Economia, Metodi Quantitativi e … - 1999

In this paper we analyse the impact of fiscal policy co-ordination in a monetary union on the size of the spending bias, inflation and the optimal degree of conservatism of the central bank. Our main result is that, when the fiscal authorities internalise the spillover effects originating from...

Persistent link: https://www.econbiz.de/10005685713

Macroeconomic Policy Interactions in the EMU: A Case for Fiscal Policy Co-ordination

Catenaro, Marco - School of Economics, University of Surrey - 2000

We analyse the effects of fiscal policy co-ordination in a monetary union on inflation, public expenditure and the optimal degree of conservatism of the central bank. Our main result is that, when the fiscal authorities internalise the spillover effects originating from their loose fiscal...

Persistent link: https://www.econbiz.de/10005748066

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/10011165894

Fiscal and Monetary Policy in Belgium, France, Germany, Luxembourg, and The Netherlands

Fahrholz, Christian; Mohl, Philipp - Ezoneplus - 2003

(part II) of Benelux, France and Germany (EMU-5) covering the period of 1997-2004. The fiscal policy part concentrates on … monetary policy affairs, the heterogeneity of EMU-5 members is surveyed. The brief analysis of two main aspects of the monetary …

Persistent link: https://www.econbiz.de/10005225401

Fiscal and Monetary Interaction: The Role of Asymmetries of the Stability and Growth Pact in EMU

Eijffinger, Sylvester C W; Governatori, Matteo - C.E.P.R. Discussion Papers - 2004

policy, where the main features characterizing the policy-making are similar to those in EMU. National governments choose the …

Persistent link: https://www.econbiz.de/10005789061

Staying together or breaking apart: Policy-makers' endogenous coalitions formation in the European Economic and Monetary Union

Di Bartolomeo, Giovanni; Engwerda, Jacob; Plasmans, Joseph - 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/10011335731

Structural Reforms and Stabilization Policies in the Euro Area

Alho, Kari E.O. - 2015

Specifying a structurally built NKM model for EMU, and identifying in it the determinants of the potential output and …

Persistent link: https://www.econbiz.de/10012037584

Strategic interactions between fiscal and monetary authorities in a multi-country new-Keynesian model of a monetary union

Michalak, Tomasz; Engwerda, Jacob; Plasmans, Joseph - 2009

In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

Persistent link: https://www.econbiz.de/10010264547

Bad for Euroland, worse for Germany: the ECB's record

Bibow, Jörg - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...

Persistent link: https://www.econbiz.de/10010266550

Fiscal policy coordination in the EMU: A problem with asymmetry and aggregation

Viren, Matti - 2011

-country estimates as point of reference. The empirical results clearly show that policy coordination within the EMU context is very …

Persistent link: https://www.econbiz.de/10012503024