AN EMPIRICAL STRUCTURAL MODEL OF AGGREGATE DEMAND
In: Journal of monetary economics, Band 7, Heft 1, S. 1-28
ISSN: 0304-3932
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In: Journal of monetary economics, Band 7, Heft 1, S. 1-28
ISSN: 0304-3932
A volume to mark the 30th anniversary of the journal Economic Policy. It brings together key articles that still matter today, and provides academics with important research markers. It also acts as a student reader that demonstrates how the field of economics progresses by responding to challenges of the time.
In: Discussion paper series 1685
In: International macroeconomics
In: Discussion paper series 734
In: Working Papers, No 86/40
World Affairs Online
In: European view: EV, Band 19, Heft 2, S. 254-254
ISSN: 1865-5831
In: European view: EV, Band 19, Heft 1, S. 112-113
ISSN: 1865-5831
SSRN
Working paper
In: Economic policy, Band 31, Heft 87, S. 559-606
ISSN: 1468-0327
In: NBER Working Paper No. w17884
SSRN
In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 217, S. R19-R30
ISSN: 1741-3036
The lack of fiscal discipline is a natural and pervasive implication of the perceived separation between the benefits from public spending and the taxes that individuals and interest groups receive and pay, respectively. The implication is that budget preparation, decision and execution must be constrained. The challenge is that the policymakers who need to be constrained are those who must decide the constraints. Two broad classes of solutions are possible: institutions that shape the budgetary process and quantitative rules that set limits. The mounting experience with both institutions and rules is disappointing, for reasons that are often complementary. Examining the reasons for this state of affairs, this article argues that institutions and rules ought to be combined and associated with advisory fiscal councils.
In: Política exterior: revista bimestral, Band 25, Heft 140, S. 96-106
ISSN: 0213-6856
World Affairs Online
In: Journal of globalization and development, Band 1, Heft 2
ISSN: 1948-1837
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of both monetary and fiscal authorities. Muted fiscal policy actions may well be a consequence of the Stability and Growth Pact despite its having been de facto suspended. While the European Central Bank (ECB) intervened promptly and massively to attempt to maintain liquidity in the money market, it has been slow in dealing with the upcoming recession. The concluding remarks consider the differences that the monetary union has made and their relevance.
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In: Travail et emploi, Heft 118, S. 43-47
ISSN: 1775-416X