Avrupa Parasal Birliginde Kamu Borc Stoku ve Enflasyon Iliskisi: Panel Veri Analizi
AbstractThe traditional view on price determination focuses on the role of monetary policy and the role of fiscal policy is usually neglected. Most analyses assume that the monetary authority is expected to set its control variable without facing any constraint, so that prices are determined by money supply and demand in a traditional way. Hovewer, a new approach has emerged in the 1990s, which allows fiscal policy to set primary surpluses to follow an arbitrary process, not necessarily compatible with solvency. “This theory could be of particular interest for monetary unions since it might contribute to explain the different evolution of the price level across the member countries. The aim of this paper is to test empirically by using panel data analysis whether the impact of the fiscal policy affects price level determination in both Old and New members and Candidate countries to the European Monetary Union. The panel data analysis basically evidences Ricardian or monetary dominant regime in all the groups.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Department of Econometrics, Faculty of Economics, Istanbul University in its journal Istanbul University Econometrics and Statistics e-Journal.
Volume (Year): 9 (2009)
Issue (Month): 1 (May)
European Monetary Union; Fiscal Theory of the Price Level; Ricardian and non-Ricardian Fiscal Policies; Panel Data Analysis;
Find related papers by JEL classification:
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kutluk Kagan Sumer).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.