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Welfare implications of country size in a monetary union

Mykhaylova, Olena - 2009

This paper calculates differences in welfare costs of nominal rigidities in large and small EMU countries. I use a two-country DSGE model characterized by optimizing agents, monopolistic wage and price setting, distortionary taxes and government debt dynamics. I find that these costs are...

Persistent link: https://www.econbiz.de/10015222013

A Mechanism of Inflation Differentials and Current Account Imbalances in the Euro Area

Harashima, Taiji - 2011

This paper examines the mechanism of persistent inflation differentials, current account imbalances, and fiscal deficits in the euro area by constructing a multi-country model in which the optimization behaviors of governments as well as those of households, firms, and the European Central Bank...

Persistent link: https://www.econbiz.de/10015225227

A Way Out of the Euro Crisis: Fiscal Transfers Are Indispensable for Sustainability in a Union with Heterogeneous Members

Harashima, Taiji - 2015

This paper theoretically examines a way out of the euro crisis based on a model of inflation acceleration and differentials. The conclusion is that, unless more advantaged states (e.g., Germany) systematically transfer a necessary amount of money to less advantaged states (e.g., Greece) in every...

Persistent link: https://www.econbiz.de/10015246800

The Costs of Implementing a Unilateral One-Sided Exchange Rate Target Zone

Hertrich, Markus - 2015

In the aftermath of the recent financial crisis, the central banks of small open economies such as the Czech National Bank and the Swiss National Bank (SNB) both implemented a unilateral one-sided exchange rate target zone vis-a-vis the euro currency to counteract deflationary pressures....

Persistent link: https://www.econbiz.de/10015249752

Monetary-Fiscal Policy Interactions in Africa: Fiscal Dominance or Monetary Dominance?

Mogaji, Peter Kehinde - 2023

This paper evaluates the interactions of monetary policy and fiscal policy in countries within regional economic communities and monetary blocs of Africa (AMU, EAC, ECCA, ECOWAS and SADC) as well as establish the extent of monetary dominance and/or fiscal dominance in the 48 African countries...

Persistent link: https://www.econbiz.de/10015213151

Corruption and Central Banks

Schinke, Michael - 2005

, that is, that corruption leads to a higher rate of inflation and/or higher seigniorage, will be tested for a cross … welfare through their decisions. Yet, cases of central bank corruption abound. The dissertation provides examples of ?pure …? corruption in central banks. Only a few studies address corruption and similar, but not necessarily criminal, behavior of central …

Persistent link: https://www.econbiz.de/10009484798

Estabilidad política y tributación

Estrada, Fernando; Mutascu, Mihai; Tiwari, Aviral - 2011

using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For …

Persistent link: https://www.econbiz.de/10015227875

Economy and power to tax

Estrada, Fernando - 2012

The paper aims to describe the evolution part of the economy and power to tax in Colombia. It also explains the failure of the government and the problems that have expanded public sector expenditures. Furthermore, we identify the aspects of political economy have influenced the evolution of the...

Persistent link: https://www.econbiz.de/10015230884

Estabilidad política y tributación

Estrada, Fernando - 2014

using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For …

Persistent link: https://www.econbiz.de/10015244979

Estabilidad política y tributación

Estrada, Fernando - 2014

using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For …

Persistent link: https://www.econbiz.de/10015245700