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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
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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
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Reforming the euro pragmatically : towards sustainable fiscal policy and a revamped eurosystem
Oksanen, Heikki - 2019
The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust between the participants led to short-sighted fiscal discipline that has amplified the economic disturbances. Expert analysis on the proposed reforms is often deficient as the...
Persistent link: https://www.econbiz.de/10012119522
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Die Stabilitätsprogramme der EU : Anspruch und Wirklichkeit in den ersten vier Jahren der Europäischen Währungsunion
Sell, Friedrich L. - 2003
Finanzpolitik der EU-Mitgliedsstaaten gesammelt hat. Diese betreffen sowohl die Defizitobergrenze des Stabilitätspakts als auch die … einen neuen "Policy Mix" in der Euro-Zone organisieren hilft und zugleich das berühmte "Zuordnungsproblem adäquat löst. Das … Wirksamkeit der automatischen Stabilisatoren der Finanzpolitik gerade im Konjunkturabschwung und verbessert zugleich die …
Persistent link: https://www.econbiz.de/10010509331
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Reinstating fiscal policy for normal times : public investment and public jobs programmes
Skidelsky, Robert Jacob Alexander; Gasperin, Simone - In: PSL quarterly review 74 (2021) 296, pp. 3-24
This paper upholds the classical Keynesian position that a laissez-faire market economy lacks a spontaneous tendency to full employment. Focusing on the UK case, it argues that monetary policy could not prevent the economic collapse of 2008-9 or achieve full recovery from the Great Recession...
Persistent link: https://www.econbiz.de/10013175036
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Designing the policy mix in a monetary union
Kempf, Hubert - 2020
This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...
Persistent link: https://www.econbiz.de/10012219885
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Fiscal policy and macroeconomic performance in the Euro area : lessons for the future
Hein, Eckhard; Truger, Achim - 2006
Seit dem Begin der Europäischen Währungsunion (EWU) steht die Finanzpolitik in den Staaten des Euroraums ganz im … der Finanzpolitik für den Zeitraum von 2001 bis 2005 im Euroraum und seinen einzelnen Mitgliedsstaaten und vergleicht sie … mit denen der Finanzpolitik in den USA. Während die US-Finanzpolitik aktiv anti-zyklisch dem Abschwung entgegengewirkt hat …
Persistent link: https://www.econbiz.de/10003744534
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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dąbrowski, Marek - 2012
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also … ; Eurozone ; Maastricht Treaty ; European Central Bank ; Euro ; Fiscal union …
Persistent link: https://www.econbiz.de/10009572988
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Fiscal and Monetary Policy Determinants of the Eurozone Crisis and Its Resolution
Dabrowski, Marek - 2012
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also …
Persistent link: https://www.econbiz.de/10013102556
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Fiscal Expenditure Spillovers in the Euro Area : An Empirical and Model-Based Assessment
Alloza, Mario - 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/10012833419