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Fiscal policy under alternative monetary policy regimes

Author

Listed:
  • Diaz-Roldan

    (Universidad de Castilla-La Mancha, Spain)

  • Carmelo Monteagudo-Cuerva

    (Universidad de Castilla-La Mancha, Spain)

Abstract

In the particular policy framework of a monetary union, the management of fiscal policy becomes an issue of special relevance, because the fiscal discipline imposed by the monetary agreements could limit the scope of stabilization fiscal policies, and its implications on economic growth. In this paper we will review the theoretical implications of fiscal policy in open economies. But we will pay special attention to the particular case of monetary unions, in order to show the relevance of the macroeconomic model behind economic policy decisions.

Suggested Citation

  • Diaz-Roldan & Carmelo Monteagudo-Cuerva, 2013. "Fiscal policy under alternative monetary policy regimes," Business and Economic Horizons (BEH), Prague Development Center, vol. 9(2), pages 1-9, July.
    • Handle: RePEc:pdc:jrnbeh:v:9:y:2013:i:2:p:1-9
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    Cited by:

    1. Nierhaus. Wolfgang, 2016. "How Administered Prices and Indirect Taxation Contribute to Inflation in the Euro Area: Latest Results," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(05), pages 28-32, March.
    2. Basso, Frédéric & Bouillé, Julien & Troiville, Julien, 2021. "Are you up for fair-trade products? Vertical dimension as a metaphorical representation of virtuous consumption," Journal of Business Research, Elsevier, vol. 135(C), pages 508-518.
    3. Carvallo, Oscar & Pagliacci, Carolina, 2016. "Macroeconomic shocks, bank stability and the housing market in Venezuela," Emerging Markets Review, Elsevier, vol. 26(C), pages 174-196.
    4. Benes, Jaromir & Kumhof, Michael, 2015. "Risky bank lending and countercyclical capital buffers," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 58-80.
    5. Simatele, Munacinga & Sjö, Bo & Sweeny, Richard, 2016. "Do Developing Countries Lose Money on Central Bank Intervention? The Case of Zambia in Copper-Market Boom and Bust," LiU Working Papers in Economics 2, Linköping University, Division of Economics, Department of Management and Engineering.
    6. Gabriele Galati & Richhild Moessner, 2018. "What Do We Know About the Effects of Macroprudential Policy?," Economica, London School of Economics and Political Science, vol. 85(340), pages 735-770, October.
    7. Mac an Bhaird, Ciarán & Vidal, Javier Sanchez & Lucey, Brian, 2016. "Discouraged borrowers: Evidence for Eurozone SMEs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 44(C), pages 46-55.
    8. Linnemann, Ludger & Schabert, Andreas, 2015. "Liquidity premia and interest rate parity," Journal of International Economics, Elsevier, vol. 97(1), pages 178-192.
    9. Mattesini, Fabrizio & Nosal, Ed, 2016. "Liquidity and asset prices in a monetary model with OTC asset markets," Journal of Economic Theory, Elsevier, vol. 164(C), pages 187-217.
    10. Wolfgang Nierhaus, 2017. "Current Consumer Price Development in the Euroarea," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(05), pages 22-26, March.
    11. Iwan Sukarno & Hiroshi Matsumoto & Lusi Susanti & Ryushi Kimura, 2015. "Urban Energy Consumption in a City of Indonesia: General Overview," International Journal of Energy Economics and Policy, Econjournals, vol. 5(1), pages 360-373.

    More about this item

    Keywords

    Fiscal policy; open economies; monetary union;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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