Fiscal Policy in the Member States under EMU

In Chapter 2 we build a Two-Country Open-Economy New-Keynesian DSGE model of a Currency Union to study the effects of fiscal policy coordination, by evaluating the

The purpose of this article is to identify and highlight the impact of fiscal policy on sustainable rural economic development of Romania, in the context of Romanian rural economy

Keywords: European Monetary Union, real wage rigidity, fiscal policy, unemployment, labor market reforms, monetary policy, asymmetric shocks.. Universität Würzburg Lehrstuhl

The common monetary policy implemented by the ECB and the fiscal policies implemented by the national fiscal authorities affect real (output and employment) and nominal (prices

In the end, a fiscal policy focussing on intertemporal sustainability and some form of tax smoothing (Barro, 1979) gathered a large consensus amongst academic economists:

EMU is a system of economic governance in which the different elements – monetary policy, fiscal policy and supply-side policies – have been brought together in a policy

However, given the potentially adverse reaction by the ECB (as a result of free-riding and/or a conflict on the orientation of the policy mix), fiscal coordination is likely to

Table 5 summarizes the regressions results and the hypotheses testing evidence. According to these, the estimated coefficients of all unanticipated fiscal policy shocks