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Author : Matti Virén
Publisher :
ISBN 13 : 9789515612892
Total Pages : 33 pages
Book Rating : 4.6/5 (128 download)
Download or read book Fiscal Policy, Automatic Stabilisers and Policy Coordination in EMU written by Matti Virén and published by . This book was released on 1999 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marco Buti
Publisher :
ISBN 13 : 9789289441490
Total Pages : 254 pages
Book Rating : 4.4/5 (414 download)
Download or read book Monetary and Fiscal Policies in EMU written by Marco Buti and published by . This book was released on 2003 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars and policy makers examine the challenges that are facing economic policies in the EMU today.
Author : A. Brunila
Publisher : Springer
ISBN 13 : 0230629261
Total Pages : 446 pages
Book Rating : 4.2/5 (36 download)
Download or read book The Stability and Growth Pact written by A. Brunila and published by Springer. This book was released on 2001-09-20 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyse the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation. This book is the definitive source of reference on the SGP for academics, policy makes and economists.
Author : Mr.M. Cangiano
Publisher : International Monetary Fund
ISBN 13 : 1451975554
Total Pages : 33 pages
Book Rating : 4.4/5 (519 download)
Download or read book Will Fiscal Policy Be Effective Under EMU? written by Mr.M. Cangiano and published by International Monetary Fund. This book was released on 1998-12-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: European Economic and Monetary Union does not envisage creating a central fiscal authority. Monetary and exchange rate policies will be centralized, but fiscal policy will remain a national responsibility, in line with the subsidiarity principle. This paper argues that monetary union will generate pressures for closer economic integration than currently envisaged. Although not a necessity, a more active central role could then be justified on the grounds of allocative efficiency, redistribution, and stabilization. While in the short term enhanced policy coordination may address those pressures satisfactorily, as economic integration proceeds, the case for a central fiscal authority may become stronger.
Author : Marco Buti
Publisher : Oxford University Press
ISBN 13 : 9780198294771
Total Pages : 280 pages
Book Rating : 4.2/5 (947 download)
Download or read book Economic Policy in EMU written by Marco Buti and published by Oxford University Press. This book was released on 1998 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the advent of the third and final phase of European and Monetary Union (EMU), the debate over European monetary unification is at the top of the political and economic agenda. Much has been written over the past five years about whether EMU is justified given the various expected benefitsand prospective costs, but there has been little detailed material on how EMU will work and what the practical implications of it will be for Europe as a whole. Economic Policy in EMU is a comprehensive look at the mechanisms involved, likely effects on monetary and budgetary policy, and the ways in which monetary union will deal with and affect business cycles and regional differences. It combines rigorous analysis of how the European economy works withan insider view of how this will change after 1999: as such, it is vital reading for all involved in the most important topic facing Europe today.
Author : Marco Buti
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)
Download or read book Fiscal Policy in EMU written by Marco Buti and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew Brociner
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.X/5 (2 download)
Download or read book Fiscal Policy Coordination and EMU written by Andrew Brociner and published by . This book was released on 1992 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luca Lambertini
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Independent Or Coordinated? Monetary and Fiscal Policy in Emu written by Luca Lambertini and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine, in a suitable theoretical framework, the relations between monetary and fiscal policies within the European Economic and Monetary Union (EMU). Our stylized setup of EMU includes the following political agents, each endowed with an objective function: (i) A central authority (EC), which aims at maximizing a Social Welfare criterion; (ii) National Fiscal Authorities (FA), which pursue domestic output stabilization, (iii) the European Central Bank (ECB) which has a mandate to stabilize inflation. In this context we ask the following questions: - How would the EC want to direct (or coordinate) the national FA? - Do the EC decisions make control of inflation (the ECB mandate) easier or more difficult? - Do national FA have an incentive to obey to or to deviate from the EC directives? In response to the last question, our main result is that national FA may have an incentive to deviate, even if we exclude time-inconsistent motives in their preference functions, or motives linked to a failure to internalize aggregate demand spillovers. In particular, even in the absence of asymmetric shocks and of aggregate demand spillovers, EC authorities and national governments may have conflicting incentives, depending upon the relative size of disturbances to aggregate demand and supply. When both aggregate demand and supply shocks are positive (resp. negative) and the latter are large enough in absolute terms, then national governments will pursue a more expansionary (resp. contractionary) fiscal policy than it would be desirable from the point of view of social welfare. Our results imply that, if the EC authorities are required to enforce a social welfare function defined over aggregate output and inflation, then it may be necessary to endow the EC with appropriate enforcement devices with respect to the fiscal policy stance of individual member countries. This points to the necessity of having institutions (such as the Stability and Growth Pact, SGP) which help to coordinate and discipline the fiscal stance of member countries. While we do not discuss the specific provisions of the SGP, our conclusions strongly support the idea that the setting of fiscal policies by member countries needs to be disciplined, and in some instances possibly over-ruled, by the EC authorities.
Author : Jesus Ferreiro
Publisher : Palgrave MacMillan
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)
Download or read book Fiscal Policy in the European Union written by Jesus Ferreiro and published by Palgrave MacMillan. This book was released on 2008-11-27 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book offers a comprehensive analysis of current national fiscal policies in the European Union and European Monetary Union, and provides insights into the consequences of these fiscal policies on economic activity. With contributions from a range of experts, the book focuses on the coordination problems between the single monetary policy and national fiscal policies, and the negative impact on the capacity of fiscal policy to correct short-term economic fluctuations and to accelerate economic growth in the long-term in European economies. This book is an essential read for all interested in the role of fiscal policy in the European Union."--BOOK JACKET.
Author : Luca Lambertini
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (249 download)
Download or read book Monetary and Fiscal Policy Coordination and Macroeconomic Stabilization written by Luca Lambertini and published by . This book was released on 2003 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Iain Begg
Publisher : Federal Trust
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.F/5 ( download)
Download or read book Europe: Government and Money written by Iain Begg and published by Federal Trust. This book was released on 2002 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the questions about running EMU is whether different strands of macroeconomic policy should be co-ordinated. This work covers the case for and against having an explicit co-ordination of fiscal and monetary policy, with essays from two of the leading architects of the current system.
Author : Jani Kaarlejärvi
Publisher : Palgrave MacMillan
ISBN 13 :
Total Pages : 316 pages
Book Rating : 4.F/5 ( download)
Download or read book Fiscal Policy Without a State in EMU? written by Jani Kaarlejärvi and published by Palgrave MacMillan. This book was released on 2007-10-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines fiscal policy coordination in EMU and the required adjustments to national fiscal policies by EMU member states. It presents a coherent view of German fiscal policy following the creation of the Stability and Growth Pact in 1995-97 and the implementation of the Stability Pact in 1997. The book shows that, in the process of Europeanization, national interests have had a major impact on the formation of fiscal policy coordination. It also shows how European fiscal policy coordination has affected national fiscal policies and policy implementation in EMU, and how changes in national interests have finally launched the reform process of the original Stability Pact and a new phase or Europeanization.
Author : Carmen Elena Flores
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)
Download or read book The Framework for Fiscal Policy in EMU written by Carmen Elena Flores and published by . This book was released on 2005 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : André Sapir
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.X/5 (6 download)
Download or read book EMU in the Early Years written by André Sapir and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew Brociner
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (35 download)
Download or read book Fiscal Policy Coordination and the EMU written by Andrew Brociner and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451844239
Total Pages : 33 pages
Book Rating : 4.4/5 (518 download)
Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author : Marco Buti
Publisher : Cambridge University Press
ISBN 13 : 9780521832151
Total Pages : 376 pages
Book Rating : 4.8/5 (321 download)
Download or read book Monetary and Fiscal Policies in EMU written by Marco Buti and published by Cambridge University Press. This book was released on 2003-11-13 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars and policy makers examine the challenges that are facing economic policies in the EMU today.
