Coordination des Politiques Budgétaires dans une Union Monétaire Hétérogène: Modélisation et Application à l'UEM
This paper studies coordination of fiscal policies in a monetary union in terms of stabilization 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 efficient tool to increase EMU stabilization, even though coordination gains greatly varies according to macroeconomic heterogeneities. We then identify coalitions and free riding behaviours.
|Date of creation:||2007|
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