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We analyse the effectiveness of fiscal policy rules for business cycle stabilisation in a monetary union using a quarterly macro-econometric model of Germany. The simulations compare a deficit target and an expenditure target under a range of supply, demand and fiscal shocks. Their effects are...
Persistent link: https://www.econbiz.de/10013102162
discipline, the budget deficit as a share of gross domestic product. Drawing from simulation evidence of the German economy, it …
Persistent link: https://www.econbiz.de/10011437135
discipline, the budget deficit as a share of gross domestic product. Drawing from simulation evidence of the German economy, it …
Persistent link: https://www.econbiz.de/10010260646
We analyse the effectiveness of fiscal policy rules for business cycle stabilisation in a monetary union using a quarterly macro-econometric model of Germany. The simulations compare a deficit target and an expenditure target under a range of supply, demand and fiscal shocks. Their effects are...
Persistent link: https://www.econbiz.de/10005068913
discipline, the budget deficit as a share of gross domestic product. Drawing from simulation evidence of the German economy, it …
Persistent link: https://www.econbiz.de/10005069043
discipline, the budget deficit as a share of gross domestic product. Drawing from simulation evidence of the German economy, it …
Persistent link: https://www.econbiz.de/10014088820
Persistent link: https://www.econbiz.de/10013436274
Persistent link: https://www.econbiz.de/10003322064
Persistent link: https://www.econbiz.de/10002099292
The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
Persistent link: https://www.econbiz.de/10010482338