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How loose, how tight? : a measure of monetary and fiscal stance for the euro area

Batini, Nicoletta; Cantelmo, Alessandro; Melina, Giovanni; … - 2020

Persistent link: https://www.econbiz.de/10012300130

How loose, how tight? : a measure of monetary and fiscal stance for the euro area

Batini, Nicoletta; Cantelmo, Alessandro; Melina, Giovanni; … - 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...