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Making public finances more growth and equity-friendly in the euro area

Pina, Álvaro Manuel - 2016

Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at...

Persistent link: https://www.econbiz.de/10011577852

Cross-country fiscal policy spillovers and capital-skill complementarity in currency unions

Davione, Thomas; Molnar, Matthias - 2017

We investigate cross-country fiscal policy spillovers through the integration of capital markets in a currency union and allow capital use in production to differ across countries. Following empirical evidence, we assume that production exhibits capital-skill complementarity. Using a...

Persistent link: https://www.econbiz.de/10011630088

The economic and monetary union : past, present and future

Dąbrowski, Marek - 2019

Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...

Persistent link: https://www.econbiz.de/10012029380

The New View on fiscal policy and its implications for the European Monetary Union

Pekanov, Atanas - 2018

, would have delivered better macroeconomic outcomes during the Eurozone crisis. We then discuss what such an approach could …

Persistent link: https://www.econbiz.de/10011844662

Stabilising the euro area through unemployment benefits re-insurance scheme

Claveres, Guillaume; Strasky, Jan - 2018

The paper examines the possible design and macroeconomic stabilisation properties of a euro area unemployment benefits re-insurance scheme using annual historical data from 2000 to 2016. The scheme we propose is similar in some aspects to the recent proposals, including the IMF’s paper on the...

Persistent link: https://www.econbiz.de/10011914298

Opportunities and limits of rebalancing the Eurozone via wage policies : theoretical considerations and empirical illustrations for the case of Germany

Hein, Eckhard; Truger, Eckhard Achim - 2017

In this paper we discuss the relationship between the current account rebalancing in the Eu-rozone, income distribution … wage policies could be able to contribute to a more balanced development of the Eurozone and to overcome the export …

Persistent link: https://www.econbiz.de/10011924464

Fiscal expenditure spillovers in the euro area : an empirical and model-based assessment

Alloza, Mario; Ferdinandusse, Marien; Jacquinot, Pascal; … - 2020

The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...

Persistent link: https://www.econbiz.de/10012206331

The Euro area imbalances narrative in a Franco-German perspective : the importance of the longer-run view

Belke, Ansgar; Gros, Daniel - 2020

, that Germany's industry is not more integrated in international value chains than that of France or Italy. We then look at …In zwei Kernländern der Euro-Zone gibt es eine symmetrische Debatte: in Frankreich über die restriktive Finanzpolitik … 2019 mit 1989 vergleicht, also vor der Vereinigung. Die meisten Studien zur relativen Position Deutschlands in der Euro-Zone …

Persistent link: https://www.econbiz.de/10012197774

Euro-Area Fiscal Stance : From Theory to Practical Implementation

Bénassy-Quéré, Agnès - 2016

Despite large automatic stabilizers, the performance of the Euro area as a whole in terms of fiscal stabilization is relatively poor. This report argues that a meaningful fiscal stance for the Euro area should rely on the current account as a complement to the output gap, and be coordinated only...

Persistent link: https://www.econbiz.de/10012982261

Euro area inflation differentials : the role of fiscal policies revisited

Checherita-Westphal, Cristina; Leiner-Killinger, Nadine; … - 2023

This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation differentials across the 19 euro area countries over the period 1999-2019. The results confirm existing (older) literature that it is difficult to find robust evidence of the fiscal...

Persistent link: https://www.econbiz.de/10013547978