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Fiscal transfers and economic convergence

Capella-Ramos, João; Checherita-Westphal, Cristina; … - 2020

Economic and Monetary Union (EMU) and increase its resilience, inter alia, by speeding up economic convergence. The impact of … transfers in real and business cycle convergence at a regional level. The paper distinguishes between net fiscal transfers - a … provides evidence that net fiscal transfers have contributed to income redistribution across regions and to faster convergence …

Persistent link: https://www.econbiz.de/10012521156

Fiscal and monetary policy determinants of the Eurozone crisis and its resolution

Dabrowski, Marek - 2012

Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....

Persistent link: https://www.econbiz.de/10011430901

Macroeconomic and fiscal challenges faced by the Southern and Eastern Mediterranean region

Dabrowski, Marek - 2014

The current fiscal imbalances and fragilities in the Southern and Eastern Mediterranean countries (SEMC) are the result of decades of instability, but have become more visible since 2008, when a combination of adverse economic and political shocks (the global and European financial crises, Arab...

Persistent link: https://www.econbiz.de/10011430924

Debt sustainability analysis for euro area sovereigns: A methodological framework

Bouabdallah, Othman; Checherita-Westphal, Cristina; … - 2017

The euro area sovereign debt crisis has highlighted the importance of reducing public debt levels and building up sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability analysis (DSA) to act as a warning system for national...

Persistent link: https://www.econbiz.de/10011661911

The economic and monetary union: Past, present and future

Dabrowski, 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/10012387274

Thinking beyond the pandemic: Monetary policy challenges in the medium- to long-term

Dabrowski, Marek - 2021

The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into...

Persistent link: https://www.econbiz.de/10013270945

Public wage and pension indexation in the euro area: An overview

Checherita-Westphal, Cristina (contributor) - 2022

If the responses of wages - both private and public - and of pensions to an increase in inflation lead to second-round effects, this can make an inflationary shock more persistent, especially in the presence of automatic wage and pension indexation. This occasional paper presents an overview of...

Persistent link: https://www.econbiz.de/10013480188