Monetary And Fiscal Policies In The Euro Area
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Monetary And Fiscal Policies In The Euro Area
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-03-14
Monetary And Fiscal Policies In The Euro Area written by Michael Carlberg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-14 with Business & Economics categories.
This book studies the interactions between monetary and fiscal poUcies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German government, and the French government. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The pohcy targets are price stability and full employment. The policy makers follow co- turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and fiscal policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association. Other parts were presented at the International Conference on Macroeconomic Analysis, at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Monetary And Fiscal Policies In The Euro Area
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Author : W. Semmler
language : en
Publisher: Elsevier
Release Date : 2005-05-06
Monetary And Fiscal Policies In The Euro Area written by W. Semmler and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05-06 with Business & Economics categories.
The emergence of a macro economy in Euro-Asia is a challenge for academics and policy makers. This book focuses on this macro economy and the monetary and fiscal policy responses. It explores monetary policies allowing for uncertainty and time-varying behaviour of economic agents in markets.
Monetary And Wage Policies In The Euro Area
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Author : Michael Carlberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-11-24
Monetary And Wage Policies In The Euro Area written by Michael Carlberg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-24 with Business & Economics categories.
This book studies interactions between monetary and wage policies in the Euro area, closely reviewing and discussing the process of policy competition and the structure of policy cooperation. On policy competition, the book focuses on competition between the European central bank, the American central bank, the German labour union, and the French labour union. As to policy cooperation, the focus is on the same institutions. Includes numerical simulations and solutions.
Monetary And Exchange Rate Policies Of The Euro Area
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2001-04-20
Monetary And Exchange Rate Policies Of The Euro Area written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-04-20 with categories.
The euro area continues to perform well, owing to its sustained employment creation, rising disposable income, buoyant internal demand, and low inflation. Executive Directors agreed that favorable external developments and sound macroeconomic fundamentals had produced robust area-wide growth. They cautioned that high oil prices and a weak euro might undermine prevailing wage moderation and set in motion domestic inflation pressures. They emphasized the need to tighten monetary and fiscal policies, and accelerate structural reforms to sustain economic growth.
Fiscal Policies In High Debt Euro Area Countries
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Author : Antonella Cavallo
language : en
Publisher: Springer
Release Date : 2017-11-15
Fiscal Policies In High Debt Euro Area Countries written by Antonella Cavallo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-15 with Business & Economics categories.
This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies affected by high public and private debt. It is shown that the macroeconomic outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999–2016, i.e., the EMU period. The main econometric tools used in this research are structural vector autoregressive (VAR) models, including panel VAR models. The available literature relating to the subject is also fully reviewed. A further closely investigated topic is the potential spillover effects of German fiscal policies on the selected small Euro-area economies. Moreover, in the perspective of the evolution of the Euro Area towards a full Monetary and Fiscal Union, the authors study the effects of area-wide government spending shocks on aggregate output and other macroeconomic variables during the EMU period. The closing chapter of the book considers evidence on the consequences of austerity policies for European labour markets during recent years.
Fiscal Policy In The European Union
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Author : J. Ferreiro
language : en
Publisher: Springer
Release Date : 2008-11-27
Fiscal Policy In The European Union written by J. Ferreiro and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-27 with Business & Economics categories.
This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.
Fiscal Politics In The Euro Area
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Author : Luc Eyraud
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-30
Fiscal Politics In The Euro Area written by Luc Eyraud and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-30 with Business & Economics categories.
This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999–2015. We look for, but do not find, conclusive evidence of bias in procedures in relation to country size. The paper also briefly reviews the literature on political economy factors and policy biases, and offers some reflections on the euro area architecture.
Macroeconomic Policy In The European Monetary Union
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Author : Francesco Farina
language : en
Publisher: Routledge
Release Date : 2007-11-08
Macroeconomic Policy In The European Monetary Union written by Francesco Farina and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-08 with Business & Economics categories.
Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers. Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the: monetary and fiscal policy-mix evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules accountability of debt evolution financial spill-over of national fiscal policies measurement and assessment of automatic stabilizers. Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.
Fiscal Policy In An Estimated Open Economy Model For The Euro Area
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Author : Marco Ratto
language : en
Publisher:
Release Date : 2006
Fiscal Policy In An Estimated Open Economy Model For The Euro Area written by Marco Ratto and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Fiscal policy categories.
Recoge: Introduction - 1. The Model - 2. Estimation - 3. Assessing the Role of Fiscal Policy - 4. Conclusion.
Shared Problem Shared Solution Benefits From Fiscal Monetary Interactions In The Euro Area
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Author : Robert C. M. Beyer
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-21
Shared Problem Shared Solution Benefits From Fiscal Monetary Interactions In The Euro Area written by Robert C. M. Beyer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-21 with Business & Economics categories.
This paper employs two established macroeconomic models to show that fiscal policy in the euro area can help monetary policy in reducing inflation. Specifically, a fiscal consolidation of 1 percent of GDP for two years and 0.5 percent in the third year across the euro area would ease the policy interest rate by 30-50 basis points relative to the baseline scenario, while lowering inflation. It would also put the public debt-to-GDP ratio on a downward path, with the output costs reversing after the second year. Additionally, a stronger fiscal contribution to the policy mix could mitigate financial fragmentation risks. In the current context of elevated inflation in all euro area economies, the findings suggest two key takeaways: first, synchronized fiscal and monetary policies offer gains even when monetary policy is unconstrained and, second, sharing the burden of lowering inflation through fiscal consolidation among euro area members is beneficial for union-wide inflation reduction, improving debt sustainability and inducing a lower policy rate path.