Narrow search
Showing 11 - 20 of 332,573
Cover Image
How to build a resilient monetary union? : lessons from the euro crisis
Claeys, Gregory - 2017
This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were put in place during and in the aftermath of the crisis, and evaluates the remaining fragilities of the architecture of the European monetary union. In mid-2017, growth in the...
Persistent link: https://www.econbiz.de/10011723767
Cover Image
Designing QE in a Fiscally Sound Monetary Union
Bletzinger, Tilman - 2018
This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...
Persistent link: https://www.econbiz.de/10012917169
Cover Image
Macroeconomic Stabilisation in the Emu : Rules Versus Institutions
Cavallari, Lilia; Di Gioacchino, Debora - 2004
This paper investigates the macroeconomic implications of different regimes of international fiscal coordination and monetary-fiscal cooperation in a monetary union with independent fiscal authorities that act strategically vis a vis a common central bank. In the presence of other policy goals...
Persistent link: https://www.econbiz.de/10014068253
Cover Image
The Macroeconomic Policy Mix in a Monetary Union with Flexible Inflation Targeting
Andersen, Torben M. - 2003
Policy mix problems may arise in a monetary union with centralized monetary policy and decentralized fiscal policy. A consequence of this may be an inappropriate stabilization of shocks. This paper addresses how policy coordination problems are affected by the objectives of the monetary...
Persistent link: https://www.econbiz.de/10014094279
Cover Image
Fiscal and Monetary Rules for a Currency Union
Ferrero, Andrea - 2021
This paper addresses the question of the joint conduct of fiscal and monetary policy in a currency union. The problem is studied using a two-country DSGE framework with staggered price setting, monopolistic competition in the goods market, distortionary taxation and nominal debt. The two...
Persistent link: https://www.econbiz.de/10013318456
Cover Image
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/10014212729
Cover Image
Regional currency arrangements : insights from Europe
Christl, Josef - 2022
This paper focuses on the requirements and features of a successful monetary union on the basis of the optimum currency area theory, the “logical roadmap” for integration as proposed by Balassa as well as the economic and institutional framework of the European Economic and Monetary Union...
Persistent link: https://www.econbiz.de/10014080596
Cover Image
One Size Must Fit All : National Divergences in a Monetary Union
Gros, Daniel; Hefeker, Carsten - 2021
What policy objective should a common central bank in a heterogeneous monetary union pursue? Should it base its decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates of inflation and growth? We find that a central bank that...
Persistent link: https://www.econbiz.de/10013321188
Cover Image
Nominal wage flexibility, wage indexation and monetary union
Calmfors, Lars; Johansson, Åsa - 2002
Membership in a monetary union implies stronger incentives for nominal wage flexibility in the form of wage indexation and shorter contract length than nonmembership. For example, entry into a monetary union may cause a move from a non-indexation to an indexation equilibrium. But more wage...
Persistent link: https://www.econbiz.de/10011410646