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Staying together or breaking apart : policy-makers endogenous coalitions formation in the European economic and monetary union
Aarle, Bas van; Di Bartolomeo, Giovanni; Engwerda, … - 2002
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic …
Persistent link: https://www.econbiz.de/10011410410
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Transatlantic monetary and fiscal policy interaction
Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003
This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...
Persistent link: https://www.econbiz.de/10011509484
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Macroeconomic stabilization policies in the EMU : spillovers, asymmetries, and institutions
Di Bartolomeo, Giovanni; Engwerda, Jacob; Plasmans, Joseph - 2005
game approach of the endogenous coalition formation literature. The specific policy recommendations in the EMU context …
Persistent link: https://www.econbiz.de/10010261121
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Heterogeneous policy responses and the risk of monetary disintegration in Europe
Cornelius, Peter K.; Trimbur, Thomas - 2000
Leaving EMU would create great legal uncertainty and costly litigation and would hence involve extremely high costs for … scenarios, whereby particular emphasis is paid to the case where a country decides unilaterally to leave EMU either because of …, implying a non-trivial possibility of escalating tension among the EMU members. …
Persistent link: https://www.econbiz.de/10010301755
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Heterogeneous policy responses and the risk of monetary disintegration in Europe
Cornelius, Peter; Trimbur, Thomas M. - 2000
Leaving EMU would create great legal uncertainty and costly litigation and would hence involve extremely high costs for … scenarios, whereby particular emphasis is paid to the case where a country decides unilaterally to leave EMU either because of …, implying a non-trivial possibility of escalating tension among the EMU members. …
Persistent link: https://www.econbiz.de/10010503722
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A euro area macroeconomic stabilisation function : assessing options in view of their redistribution and stabilisation properties
Koester, Gerrit (contributor); Sondermann, David (contributor) - Europäische Zentralbank / Task Force on Systemic Liquidity - 2018
central role in the debate on deepening Economic and Monetary Union (EMU). We evaluate a broad range of options, their impact …
Persistent link: https://www.econbiz.de/10011926383
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Which is the optimal fiscal rule in a monetary union? : targeting the structural, the global budgetary deficit, or the public debt?
Menguy, Séverine - In: Cogent economics & finance 2 (2014) 1, pp. 2-20
The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...
Persistent link: https://www.econbiz.de/10010482338
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The effects of fiscal rules on public investment over the cycle
Jürgens, Ekaterina - 2022
This paper investigates how numerical fiscal rules affect government investment in the EU and disentangles their effect over the business cycle. Public investment seems to be generally susceptible to cutbacks during recessions. Fiscal rules demonstrate heterogeneous effects, depending on their...
Persistent link: https://www.econbiz.de/10014327527
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Central banks, trade unions and reputation - is there room for an expansionist manoeuvre in the European Union?
Pusch, Toralf; Heise, Arne - 2008
It is now a few years since the introduction of the common currency, and Europe is still experiencing high unemployment. The conventional logic attributes this problem to strong trade unions and other flaws in the labour market. This article takes a different approach. Using a game theoretic...
Persistent link: https://www.econbiz.de/10010302517
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Disinflation and monetary independence in Romania
Goczek, Lukasz - In: Baltic journal of economics 15 (2015) 1, pp. 65-79
In this article, the issue of the monetary independence problem in view of the Romania's European Monetary Union accession is investigated empirically. It is frequently argued that for such a country, the main cost of participation in a currency area is the loss of monetary policy independence....
Persistent link: https://www.econbiz.de/10011890553