Эксоцман
на главную поиск contacts

Symbiosis of Monetary and Fiscal Policies in a Monetary Union

Опубликовано на портале: 22-10-2007
Journal of International Economics. 2003.  Vol. 60. No. 2. P. 235-247. 
We consider the interaction between the monetary policy in a monetary union, and the separate fiscal policies of the member countries. We use a Barro–Gordon-type model extended to many countries and fiscal policies. Each country’s fiscal policies inflict externalities on other countries, and the common monetary policy has its time-consistency problem. But if the two types of policymakers agree about the ideal levels of output and inflation, then this ideal is attained despite disagreements about the weights of the objectives, despite ex post monetary accommodation to fiscal profligacy, without fiscal coordination, without monetary commitment, and for any order of moves.

Аннотация статьи представлена на сайте ScienceDirect. Полный текст статьи находится в закрытом доступе

Препринт статьи (полный текст) размещен на сайте Social Science Research Network (необходимо перейти по ссылке и далее загрузить документ)
BiBTeX
RIS
Ключевые слова

См. также:
Andrew Hughes Hallett, Diana Weymark
CEPR Discussion Papers. 2002.  No. 3336.
[Статья]
Paul J. Zak
[Книга]
Avinash K. Dixit
European Economic Review. 2001.  Vol. 45. No. 4-6. P. 589-613. 
[Статья]
Roel M.W.J. Beetsma, Lans Arij Bovenberg
European Journal of Political Economy. 2003.  Vol. 19. No. 1. P. 1-15. 
[Статья]
Giovanni Di Bartolomeo, Debora Di Gioacchino
Working Paper (University of Rome "La Sapienza"). 2004.  No. 74.
[Статья]
Zeno Rotondi, Glacomo Vaciago
Universita Cattolica del Sacro Cuore di Milano Working Papers. 2002.  No. 46.
[Статья]
Cindy Moons, Harry Garretsen, Bas van Aarle, Jorge Fornero
Journal of Policy Modeling. 2007.  Vol. 29. No. 6. P. 879-902. 
[Статья]