Nominal Stability, Real Convergence, and Fiscal Transfers in a Monetary Union.

This paper studies some macroeconomic policy interactions that may arise in a monetary union where monetary policy - in the hands of a common central bank - is designed so as to stabilize the aggregate price level, while fiscal policy - also operated by a supra-national authority in the form of an inter-member fiscal transfer scheme - is designed so as to limit the divergence between member states’ real output in the face of asymmetric shocks.

MoreLess

Authors:	Jensen, Svend E. Hougaard
Institutions:	Economic Policy Research Unit (EPRU), Økonomisk Institut

More details

Series:	EPRU Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	Number 98-15
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005225520