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Monetary and Fiscal Policy Interactions in the Euro Area

Carlberg, Michael - 2004

This paper studies the interactions between monetary and fiscal policies in the euro area. The focus is on the union central bank, the German government, and the French government. The policy targets are price stability in the union, full employment in Germany, and full employment in France. The...

Persistent link: https://www.econbiz.de/10014070599

The quest for stability : the macro view

Balling, Morten (contributor); Buiter, Willem H. (contributor) - 2010

Persistent link: https://www.econbiz.de/10003985500

Economic shocks, progressiveness of taxation, and indexation of taxes and public expenditure in EMU

Kotilainen, Markku - 2006

stabilise output in the cases of demand and tax shocks. In the case of a supply shock, tax progressiveness tends to stabilise …. Progressive taxation stabilises prices definitely only in the case of a tax shock. In the cases of demand and supply shocks, the … progressive taxation tends to increase output stability in both countries in the face of a demand shock. Progressiveness …

Persistent link: https://www.econbiz.de/10010284959

Sovereign Debt, Bail-Outs and Contagion in a Monetary Union

Eijffinger, Sylvester C. W. - 2015

after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between …

Persistent link: https://www.econbiz.de/10013027003

The Dynamic Effects of Country Specific Shocks in a Monetary Union

Orjasniemi, Seppo - 2010

This paper uses a dynamic stochastic general equilibrium model with three countries to study the effects of implementation of an open monetary union on international fluctuations. We consider the effects of unanticipated country specific shocks on technology and government spending. We compare...

Persistent link: https://www.econbiz.de/10013147295

Monetary Union and Precautionary Labor-Market Reform

Calmfors, Lars - 1999

The paper demonstrates that policy makers may have a precautionary motive to undertake more labor-market reform--and hence attain lower equilibrium unemployment--inside a monetary union than outside. The reason is a desire to reduce the utility cost of variations in employment when asymmetric...

Persistent link: https://www.econbiz.de/10014203165

Optimal Wage Indexation for a Monetary Union with Country Specific Shocks

Leichter, Jules - 1998

-specific shock is with the aggregate, the higher the indexation demands of the union. This endogenous labor market response to a …

Persistent link: https://www.econbiz.de/10014216356

The Euro-project at risk

Hankel, Wilhelm; Hauskrecht, Andreas; Stuart, Bryan - 2010

In contrast to Robert Mundell's Optimum Currency Area theory and his recommendation of forming a monetary union, the …

Persistent link: https://www.econbiz.de/10010304863

The Euro-Project at Risk

Hankel, Wilhem; Hauskrecht, Andreas; Stuart, Bryan - Department of Business Economics and Public Policy, … - 2010

In contrast to Robert Mundell's Optimum Currency Area theory and his recommendation of forming a monetary union, the …

Persistent link: https://www.econbiz.de/10008526377

Macroeconomic Policy During a Transition to Monetary Union

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1995

The main conclusions of this paper are the following. In order to minimize switching costs, the name of the new EU currency should be the Deutschmark. Differential national requirements for seigniorage revenue provide a weak case for retaining national monetary independence. From the point of...

Persistent link: https://www.econbiz.de/10005123870