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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10003794175
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Fiscal policy in the macroeconomic policy mix : a critique of the new consensus model and a comparison of macroeconomic policies in France, Germany, the UK and Sweden from a post-K...
Hein, Eckhard; Truger, Achim - 2008
development, albeit the whole macroeconomic policy-mix of monetary, fiscal and wage policies as well as open economy conditions … are not the whole story, monetary policies, wage policies and open economy conditions matter as well. … ausschließlichen Konzentration auf die Geldpolitik als Stabilisierungsinstrument, wegen seiner mangelhaften Berücksichtigung der Rolle …
Persistent link: https://www.econbiz.de/10003744540
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Rethinking potential output : embedding information about the financial cycle
Borio, Claudio E. V.; Disyatat, Piti; Juselius, Mikael - 2013
This paper argues that incorporating information about the financial cycle is important to improve measures of potential output and output gaps. Conceptually, identifying potential output with non-inflationary output is too restrictive. Potential output is seen as sustainable; yet experience...
Persistent link: https://www.econbiz.de/10009735518
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Spillovers from tax shocks to the euro area
Mierzwa, Sascha - 2021 - This version: 07 September 2021
I study the spill-over effects of legislated discretionary tax changes in the United States, Germany, and the United Kingdom to 11 Eurozone countries for the period 1980Q1-2018Q4 employing Local Projections (Jordà, 2005). In general, I find spillovers from US tax legislation to have the...
Persistent link: https://www.econbiz.de/10012649097
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Where next for monetary policy? : lessons from the financial crisis and the pandemic
Minford, Patrick - 2023
Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...
Persistent link: https://www.econbiz.de/10014433376
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Finland and its Northern peers in the great recession
Suni, Paavo; Vihriälä, Vesa - 2016
Persistent link: https://www.econbiz.de/10011428219
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The lessons from QE and other "unconventional" monetary policies : evidence from the Bank of England
Lyonnet, Victor; Werner, Richard A. - 2011 - This Version: June 29, 2011
indicates that QE as defined and announced in March 2009 had no apparent effect on the UK economy. Meanwhile, it is found that a …
Persistent link: https://www.econbiz.de/10009356677
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Turning in the widening gyre : monetary and fiscal policy in interwar Britain
Ronicle, David - 2022
Persistent link: https://www.econbiz.de/10013185984
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Government, openness and finance : past and present
Demetriades, Panicos O.; Rousseau, Peter L. - 2010
"We explore the role of government in the nexus of finance and trade starting from the earliest days of organised finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that the government expenditures and international trade did...
Persistent link: https://www.econbiz.de/10008702266