Similar Search Results

Cross-region transfers in a monetary union : evidence from the US and some implications

Pennings, Steven - 2020

US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...

Persistent link: https://www.econbiz.de/10012241154

The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - In: Oxford open economics 1 (2022), pp. 1-16

Objectives: Is the Economic and Monetary Union (EMU) truly ‘irreversible’ as stated in the treaties? (i) From the sovereign debt crises of the 2010s, and the outbreak of the COVID-19 pandemic, we draw the lesson that when exposed to large, systemic shocks the EMU faces a trilemma among...

Persistent link: https://www.econbiz.de/10013465561

Seigniorage in der EWU : eine Analyse der Notenbankgewinnentstehung und -verwendung des Eurosystems

Rösl, Gerhard - 2002

Die Satzung des Europäischen Systems der Zentralbanken sieht eine Umverteilung von Geldschöpfungsgewinnen (Seigniorage) zwischen den Notenbanken des Eurosystems vor. Die Diskussion um die "Gewinner" und "Verlierer" aus dieser Regelung wird sehr kontrovers geführt. Die Arbeit versucht, diese...

Persistent link: https://www.econbiz.de/10011927838

Debt spillovers in a monetary union : a novel rationale for central bank independence

Campoy-Miñarro, Juan C.; Negrete, Juan Carlos - In: Economics : the open-access, open-assessment journal 16 (2022) 1, pp. 123-136

Central bank independence has been championed on the grounds that it avoids political business cycles, the time-inconsistency problem of discretionary monetary policy, and political conflicts. However, after the financial crisis, central banks have resorted to unconventional monetary policies...

Persistent link: https://www.econbiz.de/10013252567

The never-ending quest for the European fiscal policy’s objectives : stability vs. convergence or stability and convergence?

Klein, Carlo - In: Athens journal of business & economics : AJBE 7 (2021) 1, pp. 41-66

Persistent link: https://www.econbiz.de/10012312475

Protecting Public Investment against Shocks in the West African Economic and Monetary Union : Options for Fiscal Rules and Risk Sharing

Dessus, S??bastien; Varoudakis, Aristomène A. - 2013

West African Economic and Monetary Union arrangements have been instrumental in helping member countries maintain low inflation. However, a lesser-known characteristic of the West African Economic and Monetary Union, with possible implications for economic growth, is the high exposure to shocks...

Persistent link: https://www.econbiz.de/10012560166

Modern Monetary Theory, fiscal dominance and the European Central Bank

Prinz, Aloys; Beck, Hanno - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 431-456

In this paper, Modern Monetary Theory (MMT) is confronted with the peculiarities of the institutional setting of the …

Persistent link: https://www.econbiz.de/10014518596

Pitfalls of DSGE model approach in monetary union

Konôpková, Zlatica - In: Danube : law and economics review 10 (2019) 4, pp. 369-382

This paper investigates the impact of country size on the DSEG model estimation of the monetary union. Following DSGE model for fiscal policy simulations (FiMod) the union is considered to have a two-country structure, the investigated country has weight in union equal to its population share...

Persistent link: https://www.econbiz.de/10012170992

Anreizwirkungen von Finanzausgleichssystemen

Kirn, Tanja - 2010 - 1. Aufl.

Finanzausgleich bei Informationsasymmetrie entworfen. … Marktversagen 22 2.2 Effizienz zentraler Finanzpolitik 25 2.2.1 Die … 37 2.3 Aspekte dezentraler Finanzpolitik 39 2.3.1 Das Prinzip der fiskalischen …

Persistent link: https://www.econbiz.de/10011965259

Redistributive fiscal policies and regional economic disparities

Olayele, Bankole Fred; Soo, Kwok Tong - In: Cogent economics & finance 8 (2020) 1, pp. 1-19

Finding a definitive answer to the question of whether fiscal redistribution is harmful or beneficial for regional economic performance is not straightforward. This paper disentangles the key components of fiscal redistribution in a regional Canada-US setting. Redistributive spending is...

Persistent link: https://www.econbiz.de/10013179696