کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10477814 | 930636 | 2005 | 29 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Monetary and fiscal policy dynamics in an asymmetric monetary union
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Monetary and fiscal policy dynamics in an asymmetric monetary union Monetary and fiscal policy dynamics in an asymmetric monetary union](/preview/png/10477814.png)
چکیده انگلیسی
This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction and the number of these reversals depend on whether policies are unanticipated or anticipated. We also study the coordination between monetary and fiscal policy in a monetary union. Monetary policy may completely stabilize European output after unanticipated fiscal policy shocks. With anticipated fiscal policy shocks, complete stabilization throughout the overall adjustment process requires monetary policy to be time-inconsistent.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 24, Issue 1, February 2005, Pages 139-167
Journal: Journal of International Money and Finance - Volume 24, Issue 1, February 2005, Pages 139-167
نویسندگان
Volker Clausen, Hans-Werner Wohltmann,