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Monetary and Fiscal Unification in the EU : a Stylized Analysis
Huart, Florence - 2020
The Economic and Monetary Union (EMU) implies a considerable change in monetary and fiscal policy design in the European Union. With the aid of a two-country version of the Alesina and Tabellini (1987) model, this paper provides a stylized analysis of monetary and fiscal policy interaction in...
Persistent link: https://www.econbiz.de/10012838530
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Monetary and Fiscal Unification in the EU : A Stylized Analysis
Huart, Florence; Van Aarle, Bas - 2020
The Economic and Monetary Union (EMU) implies a considerable change in monetary and fiscal policy design in the European Union. With the aid of a two-country version of the Alesina and Tabellini (1987) model, this paper provides a stylized analysis of monetary and fiscal policy interaction in...
Persistent link: https://www.econbiz.de/10014070254
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Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union
Clausen, Volker; Wohltmann, Hans-Werner - 2001
unanticipated or anticipated. We also study the coordination between monetary and fiscal policy in a monetary union. Monetary policy …
Persistent link: https://www.econbiz.de/10014122176
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Economic policy coordination in the EMU : how much scope will there be within the framework of the stability and growth pact?
Breuss, Fritz; Weber, Andrea - 1999
With a large-scale econometric world model we derive policy multipliers and the parameters for the utility functions for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a cooperative equilibrium. The cooperative equilibrium is...
Persistent link: https://www.econbiz.de/10011491576
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Structural distortions and decentralized fiscal policies in EMU
Beetsma, Roel; Bovenberg, Ary Lans - 2001
The combination of discretionary monetary policy, labor-market distortions and nominal wage rigidity yields an inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an inflation target eliminates this inflation bias, it creates a...
Persistent link: https://www.econbiz.de/10011398780
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Optimal Monetary and Fiscal Policy in the EMU : Does Fiscal Policy Coordination Matter?
Forlati, Chiara - 2011
policy in countries that share the same currency. In contrast with the previous literature which assumes coordination, this … paper analyzes the case where coordination lacks among fiscal authorities as well as between fiscal and monetary authorities … economy because it has to take into account the distortions caused by the lack of coordination among fiscal policymakers. At …
Persistent link: https://www.econbiz.de/10013134297
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Monetary-fiscal policy interactions in the euro area
2021
The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...
Persistent link: https://www.econbiz.de/10012650770
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Generalizing Determinacy under Monetary and Fiscal Policy Switches : The Case of the Zero Lower Bound
Cho, Seonghoon - 2020
the coordination of agents' beliefs hard because both monetary and fiscal policies are overall strongly passive …
Persistent link: https://www.econbiz.de/10012847919
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Dependencies between variables from the area of the monetary and fiscal policy in the European Union countries
Stawska, Joanna - In: Comparative economic research : Central and Eastern Europe 24 (2021) 1, pp. 7-25
Research background: The core of coordinating a monetary and fiscal policy (policy mix) is based on combining both policies to achieve goals related to price stability, as well as economic growth and employment. In turn, the decisions of economic authorities in the monetary-fiscal game have a...
Persistent link: https://www.econbiz.de/10012664601
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
nominal interest rates. Coordination of fiscal policies does not always lead to the best welfare effects. It depends on the … ; Non-coordination …
Persistent link: https://www.econbiz.de/10009560040