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The performance of simple fiscal policy rules in monetary union

Vogel, Lukas; Röger, Werner; Herz, Bernhard - In: Open economies review 24 (2013) 1, pp. 165-196

Persistent link: https://www.econbiz.de/10009737953

Essays on capital flows and external imbalances in the euro area

Kraus, Lena - 2020

Persistent link: https://www.econbiz.de/10012225221

Fiscal policy under alternative exchange rate regimes : on the specification of money demand in new open economy macroeconomics

Steffen, Dirk - 2005

exchange rate movements, international price level differentials, output stimulation, and welfare effects. Since Mundell (1963 … entire absence of microfoundations results in the use of ad-hoc welfare criteria for the evaluation of alternative policy … microfoundations with the MF assumption of nominal rigidities. This approach allows for an explicit welfare analysis on the basis of …

Persistent link: https://www.econbiz.de/10009475313

The sectoral reallocation of government purchases as budgetary-neutral stabilisation tool: a model-based analysis

Hohberger, Stefan; Vogel, Lukas; Herz, Bernhard - In: International Economics and Economic Policy 12 (2015) 1, pp. 59-74

purchases between tradable and non-tradable goods stabilises domestic activity and reduces the welfare costs of economy-wide and … sector-specific shocks. Potential welfare gains from such policy rules are higher than welfare gains from standard counter …

Persistent link: https://www.econbiz.de/10011241865

Monetary-Fiscal Wage Interactions in a Multi-Country Currency Union

Sánchez, Marcelo - In: Journal of Economic Integration 28 (2013), pp. 507-524

This paper studies a multi-country currency union of small open economies. Demand-side disturbances hamper monetary union stabilisation unless participating countries’ business cycles are perfectly synchronised. In the face of country-specific supply shocks, a currency union of small open...

Persistent link: https://www.econbiz.de/10010991762

The sectoral reallocation of government purchases as budgetary-neutral stabilisation tool : a model-based analysis

Hohberger, Stefan; Vogel, Lukas; Herz, Bernhard - In: International economics and economic policy : IEEP 12 (2015) 1, pp. 59-74

Persistent link: https://www.econbiz.de/10011375816

Is fiscal devaluation welfare enhancing?

Hohberger, Stefan; Kraus, Lena - In: Economic modelling 58 (2016), pp. 512-522

Persistent link: https://www.econbiz.de/10011647523

Fiscal policy within a common currency area : growth implications in the light of neoclassical theory

Konopczyński, Michał - In: Contemporary economics 7 (2013) 3, pp. 5-16

We examine the long-run impact of fiscal policy on economic growth under the conditions of an economic and monetary union (EMU). The analysis is based on the neoclassical growth model of a small (in economic terms) open economy in an EMU. The core assumptions are perfect capital mobility, which...

Persistent link: https://www.econbiz.de/10010228515

EMU and the cyclical behavior of fiscal policy : a suggested interpretation

Landmann, Oliver - 2014 - Rev.

Fiscal policy is widely criticized for its failure to act as a stabilizing countercyclical force in the European Monetary Union. Two periods should be distinguished: Prior to the Financial Crisis of 2008, when monetary policy had traction to pursue stability for the aggregate eurozone, fiscal...

Persistent link: https://www.econbiz.de/10010401689

The optimal monetary and fiscal policy mix in a financially heterogeneous monetary union

Palek, Jakob - 2015

a credit spread differential. The welfare losses will be increasing (decreasing) in the size of the cost channel, if the …

Persistent link: https://www.econbiz.de/10010474215