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A Mechanism of Inflation Differentials and Current Account Imbalances in the Euro Area
Harashima, Taiji - Volkswirtschaftliche Fakultät, … - 2011
This paper examines the mechanism of persistent inflation differentials, current account imbalances, and fiscal … behavior generates problems, such as inflation differentials, and the stability and growth pact does not appear to be … politically unified. In addition, the inflation differentials provide clear evidence that inflation acceleration is not caused by …
Persistent link: https://www.econbiz.de/10008805850
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Monetary and Fiscal Policy in a Monetary Union under the Zero Lower Bound constraint
Flotho, Stefanie - Wirtschaftswissenschaftliche Fakultät, … - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010602243
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010325141
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Monetary and fiscal policy in a monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009671236
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Monetary and fiscal policy in monetary union under the zero lower bound constraint
Flotho, Stefanie - 2012
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10009560040
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Welfare Implications of Country Size in a Monetary Union
Mykhaylova, Olena - 2008
This paper calculates differences in welfare costs of nominal rigidities in large and small EMU countries. We use a two-country DSGE model characterized by optimizing agents, monopolistic wage and price setting, distortionary taxes and government debt dynamics. We find that these costs are...
Persistent link: https://www.econbiz.de/10014215303
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Between institutions and global forces : Norwegian wage formation since industrialisation
Nymoen, Ragnar - In: Econometrics : open access journal 5 (2017) 1, pp. 1-54
This paper reviews the development of labour market institutions in Norway, shows how labour market regulation has been related to the macroeconomic development, and presents dynamic econometric models of nominal and real wages. Single equation and multi-equation models are reported. The...
Persistent link: https://www.econbiz.de/10011653824
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Revisiting Public Support for the Euro, 1999-2017: Accounting for the Crisis and the Recovery
Roth, Felix; Baake, Edgar; Jonung, Lars; Nowak-Lehmann, … - 2018
This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using uniquely large macro and micro databases and applying...
Persistent link: https://www.econbiz.de/10013208809
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The 1992-93 EMS crisis and the South : lessons from the Franc Zone system and the 1994 CFA Franc devaluation
Dossou-Cadja, Rodrigue - 2024
The CFA franc devaluation on 11 January 1994 stands out as the most significant reform within the Franc Zone system since political independences of former African French colonies in 1960, yet a topic shrouded into profound taboo. So far, the economic literature has failed to draw any connection...
Persistent link: https://www.econbiz.de/10014480992
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Evolving key risks in the banking sector, and related priorities for the SRB : the impact of the current ‘inflation crisis’
Gortsos, Christos V. - 2023
particular, on the impact of the current “inflation crisis” on financial stability vulnerabilities. Furthermore, it addresses two …
Persistent link: https://www.econbiz.de/10014258303