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Monetary and Fiscal Unification in the EU : A Stylized Analysis

Huart, Florence; Van Aarle, Bas - 2020

The Economic and Monetary Union (EMU) implies a considerable change in monetary and fiscal policy design in the European Union. With the aid of a two-country version of the Alesina and Tabellini (1987) model, this paper provides a stylized analysis of monetary and fiscal policy interaction in...

Persistent link: https://www.econbiz.de/10014070254

COVID-19 and public support for the euro

Roth, Felix; Jonung, Lars; Most, Aisada - 2023

application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary …

Persistent link: https://www.econbiz.de/10013541792

COVID-19 and public support for the euro

Roth, Felix; Jonung, Lars; Most, Aisada - 2022

application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary …

Persistent link: https://www.econbiz.de/10013455597

Labor market institutions and the business cycle Unemployment rigidities vs. real wage rigidities

Abbritti, Mirko; Weber, Sebastian - 2010

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …

Persistent link: https://www.econbiz.de/10011605229

The inflation-output tradeoff: which type of labor market rigidity is to be blamed?

Merkl, Christian - 2009

In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the standard model is enhanced by real wage rigidities or...

Persistent link: https://www.econbiz.de/10010277953

The Inflation-Output Tradeoff: Which Type of Labor Market Rigidity Is to Be Blamed?

Merkl, Christian - Institut für Weltwirtschaft (IfW) - 2009

Persistent link: https://www.econbiz.de/10005566197

The Failure of ECB Monetary Policy from a Mises-Hayek Perspective

Schnabl, Gunther - 2017

The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary policy contributed to unsustainable overinvestment booms...

Persistent link: https://www.econbiz.de/10011657109

Monetary policy and wandering overinvestment cycles in East Asia and Europe

Schnabl, Gunther - 2017

The paper analyses the role of monetary policy for cyclical movements of investment and asset markets in East Asia and Europe based on a Mises-Hayek overinvestment framework. It is shown how the gradual global decline of interest rates has triggered wandering overinvestment cycles in Japan,...

Persistent link: https://www.econbiz.de/10011660695

Fiscal transfers in a monetary union with exit option

Hefeker, Carsten; Neugart, Michael - 2015

It is widely debated whether a monetary union has to be accompanied by a fiscal transfer scheme to accommodate asymmetric shocks. We build a model of a monetary union with a central bank and two heterogeneous countries that are linked by a fiscal transfer scheme with repercussions on monetary...

Persistent link: https://www.econbiz.de/10010492336

Makroökonomische Bedingungen für die Rückkehr zur Vollbeschäftigung: Plädoyer für einen mehrdimensionalen Ansatz

Fritsche, Ulrich; Klaer, Erik; Slacalek, Jirka; … - 2007

Das Papier untersucht die makroökonomischen Determinanten der Arbeitslosigkeit. Dabei werden die Argumente neoklassisch-monetaristischer, neukeynesianischer und postkeynesianischer Provinienz auf ihren Gehalt sowohl theoretisch wie empirisch überprüft. Das Hauptgewicht der Analyse wird auf...

Persistent link: https://www.econbiz.de/10010420826