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Coordination between the Common Monetary Policy and the National Fiscal Policies – Principles, Methods and Difficulties

Author

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  • Socol Cristian

    () (Academy of Economic Studies, Bucharest)

  • Socol Aura

    () (Academy of Economic Studies, Bucharest)

  • Marinaº Marius

    () (Academy of Economic Studies, Bucharest)

Abstract

The European model’s entry into the third integration stage – The Economic and Monetary Union – has changed the conception of the macroeconomic policies. The „one for one” principle changed into the „one for all” principle. Within the Eurozone, all the member states can share both the benefits and also the costs of a common monetary policy, which should be combined with the national fiscal policies, elaborated by each country which is member to the Eurozone. Our research proposes an analysis of the technical difficulties in achieving the common monetary policy – national fiscal policies mix within the Eurozone.

Suggested Citation

  • Socol Cristian & Socol Aura & Marinaº Marius, 2011. "Coordination between the Common Monetary Policy and the National Fiscal Policies – Principles, Methods and Difficulties," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1944-1948, May.
  • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1944-1948
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    More about this item

    Keywords

    monetary policy; fiscal policy; Economic and Monetary Union;

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F15 - International Economics - - Trade - - - Economic Integration

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