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In: Swiss political science review: SPSR = Schweizerische Zeitschrift für Politikwissenschaft : SZPW = Revue suisse de science politique : RSSP, Band 3, Heft 1, S. 1-19
ISSN: 1662-6370
In: Common Market Law Review, Band 8, Heft 2, S. 206-212
ISSN: 0165-0750
The monetary union is an open economy with perfect capital mobility. It consists of two identical countries, say Germany and France. A fiscal expansion in Germany causes an appreciation of the euro. This in turn lowers both German and French exports. The net effect is that German income goes up. On the other hand, French income goes down. And what is more, union income does not change. An increase in German government purchases of 100 produces an increase in German income of 74 and a decline in French income of equally 74. What is needed, therefore, is a mix of monetary and fiscal policy.
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World Affairs Online
In: Occasional paper / Centre for Economic Policy Research, 2
World Affairs Online
In: Foreign affairs, Band 92, Heft 1, S. 192-193
ISSN: 0015-7120
In: International affairs, Band 89, Heft 3, S. 763-764
ISSN: 0020-5850
In: International economics and economic policy, Band 8, Heft 1, S. 3-6
ISSN: 1612-4812
In: Scottish affairs, Band 45 (First Serie, Heft 1, S. 20-43
ISSN: 2053-888X
In: West European politics, Band 26, Heft 1, S. 244-245
ISSN: 0140-2382
In: The political quarterly: PQ, Band 73, Heft 4, S. 502-504
ISSN: 0032-3179
In: Journal of post-Keynesian economics, Band 24, Heft 1, S. 125-147
ISSN: 1557-7821