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Completing the monetary union of Europe as mid-term solution of the Euro crisis

Fischer, Justina A. V.; Pastore, Francesco - 2015

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....

Persistent link: https://www.econbiz.de/10011308548

Fiscal or bailout union : where is the EU/EMU's fiscal integration heading?

Dąbrowski, Marek - 2013

Eurozone. Each variant of fiscal integration must be based on sound foundations of fiscal discipline. Market discipline, i …

Persistent link: https://www.econbiz.de/10010187949

Regional integration and the euro crisis : problems and solutions

Pessoa, Argentino - 2013

Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It is evident that the proposed solutions for attacking...

Persistent link: https://www.econbiz.de/10011515832

Policy autonomy, coordination or harmonization in the persistently heterogeneous European Union?

Kouba, Ludek; Mádr, Michal; Nerudová, Danuše; … - 2015

The European integration process is ongoing. Europe is still heterogeneous. Within this context, the paper addresses the question of whether policies in the EU should head towards autonomy, coordination or harmonization. Taking the path dependence effect into account, in the papers' opinion,...

Persistent link: https://www.econbiz.de/10011339150

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

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

The Effectiveness of a Fiscal Transfer Mechanism in a Monetary Union : A DSGE Model for the Euro Area

Verstegen, Loes - 2016

In this paper, we incorporate a transfer mechanism into a DSGE model with a rich fiscal sector to assess the effectiveness of fiscal transfers for a monetary union, in particular for the Economic and Monetary Union. Using a heterogeneous setup, the model is estimated for the North and the South...

Persistent link: https://www.econbiz.de/10012988404

Fiscal and Monetary Policy in the Enlarged European Union

Pogorelec, Sabina - 2021

I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in terms of joint maximization of the weighted average of...

Persistent link: https://www.econbiz.de/10013317557

What are the Spill-Overs from Fiscal Shocks in Europe? An Empirical Analysis

Giuliodori, Massimo; Beetsma, Roel M. W. J. - 2021

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...

Persistent link: https://www.econbiz.de/10013319390

The policy mix in a two-tier monetary union with constraints on stabilization policy

Bredvad Nilsson, Christian - 1998

The paper studies the interaction between the monetary and fiscal authorities in the Euro area and the block of outside countries during the Third Stage of EMU. Restraints on fiscal policies and outside monetary policy are introduced as utility costs related to the use of the tax instruments...

Persistent link: https://www.econbiz.de/10011583909