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From Deficits to Debt and Back : Political Incentives Under Numerical Fiscal Rules
Buti, Marco - 2010
Under numerical fiscal rules, such as those underpinning EMU, governments have strong temptations to use accounting …
Persistent link: https://www.econbiz.de/10012716093
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Cyclical Stabilisation Under the Stability and Growth Pact : How Effective are Automatic Stabilisers?
Brunila, Anne - 2009
It is widely recognised that fiscal policy will have greater responsibilities for cyclical stabilisation in the EMU …, given the loss of the monetary instrument at national level. At the same time, the EMU's budgetary framework emphasises the … stabilisation. Looking ahead, one of the challenges facing policy-makers will be how to design tax and welfare reforms which, while …
Persistent link: https://www.econbiz.de/10012721132
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From Deficits to Debt and Back : Political Incentives Under Numerical Fiscal Rules
Buti, Marco - 2012
Under numerical fiscal rules, such as those underpinning EMU, governments have strong temptations to use accounting … credibility of EMU's fiscal rules. If properly implemented, the reformed Pact, which stresses durable adjustment and long …
Persistent link: https://www.econbiz.de/10013110665
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ECB vs. Council vs. Commission : Monetary and Fiscal Policy Interactions in the EMU When Cyclical Conditions are Uncertian
Buti, Marco - 2008
This paper examines economic policy interactions in the Economic and Monetary Union when the assessment of cyclical conditions in real time is surrounded by uncertainty. On the basis of a simple stylised model it shows that with a Nash-type of interaction different views about the output gap on...
Persistent link: https://www.econbiz.de/10012769738
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Monetary and Fiscal Policy Interaction : The Current Consensus Assignment in the Light of Recent Developments
Kirsanova, Tatiana; Leith, Campbell; Wren-Lewis, Simon - 2010
The last few years papers have begun to analyse optimal monetary and fiscal policy in models incorporating nominal rigidities where social welfare is derived from the utility of agents. This paper examines whether this analysis provides support for the consensus assignment, where monetary policy...
Persistent link: https://www.econbiz.de/10014192733
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Computing Markov-perfect optimal policies in business-cycle models
Dennis, Richard J.; Kirsanova, Tatiana - 2014
Persistent link: https://www.econbiz.de/10010516012
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Infrequent fiscal stabilization
Bai, Yuting; Kirsanova, Tatiana - 2014
Persistent link: https://www.econbiz.de/10012173466
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Fiscal policy in the European Economic and Monetary Union : an evolving view
Buti, Marco - In: Evolution or revolution? : rethinking macroeconomic …, (pp. 109-120). 2019
Persistent link: https://www.econbiz.de/10012005191
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Fiscal policy in economic and monetary union : theory, evidence, and institutions
Buti, Marco - 2006
the reader with a roadmap to EMU's budgetary framework by exploring its theoretical and empirical foundations, uncovering …1. EMU's fiscal rules in a historical perspective -- 2. The Maastricht Treaty and the Stability and Growth Pact -- 3 … -- 11. Reforming EMU's fiscal rules -- 12. National budgets and the EU budget -- 13. Postscript : a new stability and growth …
Persistent link: https://www.econbiz.de/10011852061
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Nominal targeting in an economy with government debt
Bai, Yuting; Kirsanova, Tatiana; Leith, Campbell B. - In: European economic review : EER 94 (2017), pp. 103-125
Persistent link: https://www.econbiz.de/10011811982