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Coordination des Politiques Budgétaires dans une Union Monétaires Hétérogène: Modélisation et Application à l'UEM Coordination of Budgetary Policies in a Heterogeneous Monetary Union: Modelisation and Application

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  • Schalck, Christophe

Abstract

This paper studies coordination of Fiscal policies in a monetary union in terms of sta- bilization performance. We use a static model of closed monetary union and numerical simulations in which macroeconomic heterogeneities are introduced. Results show that the coordination is an e¢ cient tool to increase EMU stabilization, even though coordin- ation gains greatly varies according to macroeconomic heterogeneities. We then identify coalitions and free riding behaviours.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1435.

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Date of creation: Dec 2006
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Handle: RePEc:pra:mprapa:1435

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Keywords: coordination; hétérogénéités; UEM;

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  1. Engwerda, Jacob C. & van Aarle, Bas & Plasmans, Joseph E. J., 2002. "Cooperative and non-cooperative fiscal stabilization policies in the EMU," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 451-481, March.
  2. Anne Brunila & Marco Buti & Jan In 'T Veld, 2003. "Fiscal Policy in Europe: How Effective Are Automatic Stabilisers?," Empirica, Springer, vol. 30(1), pages 1-24, March.
  3. Issing,Otmar & Gaspar,Vitor & Angeloni,Ignazio & Tristani,Oreste, 2001. "Monetary Policy in the Euro Area," Cambridge Books, Cambridge University Press, number 9780521783248, October.
  4. Massimiliano Affinito & Fabio Farabullini, 2006. "An empirical analysis of national differences in the retail bank interest rates of the euro area," Temi di discussione (Economic working papers) 589, Bank of Italy, Economic Research and International Relations Area.
  5. Bouthevillain, C. & Van Den Dool, G. & Langenus, G. & Mohr, M. & Momigliano, S. & Tujula, M. & De Cos, P.H. & Cour-Thimann, Philippine, 2001. "Cyclically Adjusted Budget Balances: an Alternative Approach," Papers 77, Quebec a Montreal - Recherche en gestion.
  6. Carlo Altavilla, 2004. "Do EMU Members Share the Same Business Cycle?," Journal of Common Market Studies, Wiley Blackwell, vol. 42(5), pages 869-896, December.
  7. Leith, Campbell & Wren-Lewis, Simon, 2000. "Interactions between Monetary and Fiscal Policy Rules," Economic Journal, Royal Economic Society, vol. 110(462), pages C93-108, March.
  8. Marco Buti & Carlos Martinez-Mongay & Khalid Sekkat & Paul van den Noord, 2002. "Automatic Stabilisers and Market Flexibility in EMU: Is There A Trade-Off?," OECD Economics Department Working Papers 335, OECD Publishing.
  9. Patrick VILLIEU, 2000. "Élargissement de l'Union monétaire et coordination des politiques budgétaires : un point de vue," Annales d'Economie et de Statistique, ENSAE, issue 59, pages 137-163.
  10. Peersman, Gert & Smets, Frank, 2002. "The industry effects of monetary policy in the euro area," Working Paper Series 0165, European Central Bank.
  11. Perotti, Roberto, 2002. "Estimating the effects of fiscal policy in OECD countries," Working Paper Series 0168, European Central Bank.
  12. Roberto Perotti, 2002. "Estimating the effects of fiscal policy in OECD countries," Economics Working Papers 015, European Network of Economic Policy Research Institutes.
  13. Jérôme Creel, 2002. "Asymétries budgétaires dans la zone euro, un essai de modélisation du Pacte de stabilité," Revue Française d'Économie, Programme National Persée, vol. 16(3), pages 91-127.
  14. Lenoble-Liaud, Hélène, 2001. "L'union monétaire européenne : faut-il avoir peur du passager clandestin ?," Economics Papers from University Paris Dauphine 123456789/1982, Paris Dauphine University.
  15. repec:ebl:ecbull:v:5:y:2006:i:9:p:1-11 is not listed on IDEAS
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