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The sovereign debt crisis triggered a process of reforms in European economic governance that pushed for technocratic handling of budget decisions following standardized procedures, target measures, and indicators for fiscal monitoring. This shift, aimed at producing more stability and less...
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die Euro-Zone. Obwohl die Methoden einige wichtige gemeinsame Eigenschaften aufweisen, zeigen sie auch erhebliche …The paper discusses some widely used methods for estimating output gaps based on aggregated data for the eurozone … methods commonly used have only limited information content for inflation forecasting in the euro-zone. Conclusions for …
Persistent link: https://www.econbiz.de/10011473858
We analyze fiscal rules within a Monetary Union in the presence of (i) asymmetric information about member states' potential output and, therefore, output gap and (ii) bail-out among member states. In our framework, bail-out lowers the scope for signalling (discrimination) by member states...
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In this article assumptions and forecasts of contradictory manifestos of economists Eurosceptics versus Euro-optimists are confronted with reality. Some of the major findings are: (1) The convergence criteria were not applied exactly and strictly as politicians have postulated in advance but...
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