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Taxation, corruption and the exchange rate regime

Hefeker, Carsten - 2009

The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption … countries with regard to the level of corruption. …

Persistent link: https://www.econbiz.de/10010264571

Taxation, corruption and the exchange rate regime

Hefeker, Carsten - 2009

; Seigniorage, Corruption ; Developing and Transition Countries …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …

Persistent link: https://www.econbiz.de/10003852200

Taxation, corruption and the exchange rate regime

Hefeker, Carsten - 2009

countries with regard to the level of corruption. -- Exchange rate regime ; monetary policy ; fiscal policy ; seigniorage …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …

Persistent link: https://www.econbiz.de/10003808666

Fiscal Limits and Monetary Policy : Default vs. Inflation

Sokolova, Anna - 2013

In times of fiscal stress, governments fail to adjust fiscal policy in line with the requirements for debt sustainability. Under these circumstances, monetary policy impacts the probability of sovereign default alongside inflation dynamics. Uribe (2006) studies the relationship between inflation...

Persistent link: https://www.econbiz.de/10013073076

An Analysis of the 'Stability Pact'

Beetsma, Roel; Uhlig, Harald - C.E.P.R. Discussion Papers - 1997

We analyse the proposed ‘stability pact’ for countries joining a European Monetary Union (EMU). Within EMU shortsighted governments fail to fully internalize the inflationary consequences of their debt policies, which results in excessive debt accumulation. Hence, although in the absence of...

Persistent link: https://www.econbiz.de/10005661884

Structural reforms and the enlargement of monetary union

Hefeker, Carsten - 2003

This paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

Persistent link: https://www.econbiz.de/10001807325

Structural reforms and the enlargement of monetary union

Hefeker, Carsten - 2003

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

Persistent link: https://www.econbiz.de/10011509539

Taxation, corruption and the exchange rate regime

Hefeker, Carsten - In: Journal of macroeconomics 32 (2010) 1, pp. 338-346

Persistent link: https://www.econbiz.de/10003975964

Fiscal and monetary policy for difficult times : MMT solutions

Leclaire, Joëlle - In: European journal of economics and economic policies : … 20 (2023) 2, pp. 356-368

This article considers the current economic situation from the lens of modern money theory (MMT) and expresses a policy response rooted in post-Keynesian theory and empirical data for the US and the euro area. First, MMT supports targeted deficit spending to promote production. Increasing...

Persistent link: https://www.econbiz.de/10014433735

Is monetary financing inflationary? : a case study of the Canadian economy, 1935 - 75

Ryan-Collins, Josh - 2015

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...

Persistent link: https://www.econbiz.de/10011389179