Similar Search Results

Poland's public finance convergence with the Euro area

Kawecka-Wyrzykowska, Elżbieta - In: Central European business review : CEBR 2 (2013) 2, pp. 51-60

Persistent link: https://www.econbiz.de/10010344410

Fiscal Policy and Monetary Integration in Europe : An Update

Candelon, Bertrand - 2011

By distinguishing between discretionary and non-discretionary fiscal policy, this paper analyses the stability of fiscal rules for EMU countries before and after the Maastricht Treaty. Using both Instrumental Variables and GMM techniques, it turns out that discretionary fiscal policy has...

Persistent link: https://www.econbiz.de/10013133741

Formal Fiscal Restraints and Budget Processes as Solutions to a Deficit and Spending Bias in Public Finances : US Experience and Possible Lessons for EMU

Strauch, Rolf - 2012

Against the commonly accepted view that in the run-up to EMU the Maastricht fiscal restraints were quite effective in re-aligning public finances in Member States that were showing large excessive deficits, Strauch and von Hagen stress that there are some objections concerning this initial sign...

Persistent link: https://www.econbiz.de/10013104425

Challenges of EMU : The ‘New’ Stability Pact and Economic Differences

Kruger, Jurgen - 2013

In the absence of rules, free-riding budgetary behaviour would push up interest rates in the area as a whole. The architecture of EMU would raise the question of Stackelberg leadership in a potentially damaging and unstable monetary-budgetary game. (The ECB is not the Bundesbank). As there is no...

Persistent link: https://www.econbiz.de/10013084381

Squaring the circle : how to guarantee fiscal space and debt sustainability with a European debt agency

Amato, Massimo; Saraceno, Francesco - 2022

Persistent link: https://www.econbiz.de/10013169324

A Strategy for EMU Enlargement

Dabrowski, Marek - 2009

recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and … current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic … credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the …

Persistent link: https://www.econbiz.de/10013157589

Spillover Effects of Fiscal Policy in EMU : A Misconception behind the Stability Pact?

Huart, Florence - 2020

This paper extends the Mundell-Fleming model to a monetary union between two countries that are different with regard to the determinants of aggregate demand, demand for money, foreign trade, price and wage adjustment. Depending on these national disparities in structural parameters, a fiscal...

Persistent link: https://www.econbiz.de/10012838538

Fiscal Convergence Before Entering the Emu

Onorante, Luca - 2006

The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...

Persistent link: https://www.econbiz.de/10012779801

Co-Ordinating Fiscal Authorities in the Euro-Zone : A Key Role for the ECB

van Wijnbergen, Christa - 2010

This paper examines the conditions for fiscal restraint to emerge as Nash equilibrium in the game between fiscal authorities in a monetary union and discusses the implications for the ECB`s monetary strategy. We show that fiscal authorities fail to internalize the adverse area-wide effects of...

Persistent link: https://www.econbiz.de/10012760905

The implementation of economic rules : from the Stability and Growth Pact to the European Semester

Mariotto, Camilla - In: Journal of common market studies : JCMS 60 (2022) 1, pp. 40-57

Persistent link: https://www.econbiz.de/10012820545