Monetary Discipline as a Substitute for Fiscal Reforms and Market Liberalisations
type="main" xml:lang="en"> <title type="main">Abstract</title> <p>In an economy with wage-setting unions where the government has gains from redistribution, we analyse the incentive of incumbent politicians to implement monetary discipline (e.g. by joining a monetary union) against the adoption of fiscal reforms, or deregulation in product markets. We show that monetary discipline can be a ‘substitute’ both for better (i.e. less distortionary) fiscal policies and for deregulation in product markets. </section>
Year of publication: |
2014
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Authors: | Dalmazzo, Alberto |
Published in: |
Economic Notes. - Banca Monte dei Paschi di Siena SpA. - Vol. 43.2014, 3, p. 193-210
|
Publisher: |
Banca Monte dei Paschi di Siena SpA |
Saved in:
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