Showing 1 - 10 of 17
Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....
Persistent link: https://www.econbiz.de/10011430901
Fiscal rules are instrumental for restraining deficit and spending biases in euro area Member States that could …
Persistent link: https://www.econbiz.de/10011606199
The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things … – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances … difficulties in the euro area, especially in certain member countries. This paper looks back at the history of fiscal policies and …
Persistent link: https://www.econbiz.de/10011606281
This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and … general government debt used in the surveillance of the euro area countries, the total liabilities from the government balance … provides information about euro area government debt broken down by maturity, holder or the currency of issue. All these …
Persistent link: https://www.econbiz.de/10011606284
hinterfragt. Dabei werden zuerst die Ursachen der Euro-Schuldenkrise beleuchtet. Auf dieser Basis wird erläutert, dass die …
Persistent link: https://www.econbiz.de/10011633419
the internal market of the EU. This would increase the wedge between members and non-members of the euro area. …, causing a full-fledged fiscal crisis in Greece and severe fiscal pressures in other euro-area countries. This has prompted a …
Persistent link: https://www.econbiz.de/10011430851
This paper contributes to the ongoing debate on fiscal consolidation and the questionable effectiveness of the Stability and Growth Pact by addressing the problem of economic governance in the EMU with a game-theoretic principal-agent approach. Following the theory of delegation, we develop a...
Persistent link: https://www.econbiz.de/10011430918
Extensive prior research on the economics of European monetary union highlighted some potential risks (the known unknowns) but overlooked others (the unknown unknowns). Asymmetries among participating countries, the potentially destabilising character of a one-size-fits all monetary policy, the...
Persistent link: https://www.econbiz.de/10010293580
This thesis was written by Nadjeschda Katharina Arnold while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in...
Persistent link: https://www.econbiz.de/10011698356