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L'Unione monetaria europea fra integralismo monetario e dipendenza della politica fiscale. Alcune considerazioni
[Monetary "integralism" and fiscal policy dependence in the European Monetary Union. Some reflections]

Author

Listed:
  • Canale, Rosaria Rita

Abstract

The aim of this note is to raise some doubts about the opportunity to abandon the economic policy strategies that support aggregate demand because it is a prerequisite to realize the credibility of the new currency- the Euro. Prevailing literature states that, in the choice between inflation and unemployment, is always the second one to deserve a more immediate cure. Such position is motivated by the idea that – even if the market is the best way to organize the economic systems - it must occasionally be helped, since there is not an automatic convergence towards the natural equilibrium of full employment.

Suggested Citation

  • Canale, Rosaria Rita, 1998. "L'Unione monetaria europea fra integralismo monetario e dipendenza della politica fiscale. Alcune considerazioni
    [Monetary "integralism" and fiscal policy dependence in the European Monet    ," MPRA Paper 1429, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:1429
    as

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    File URL: https://mpra.ub.uni-muenchen.de/1429/1/MPRA_paper_1429.pdf
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    References listed on IDEAS

    as
    1. Barro, Robert J. & Gordon, David B., 1983. "Rules, discretion and reputation in a model of monetary policy," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
    2. Thomas Willett & Edward Tower, 1970. "Currency areas and exchange-rate flexibility," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 105(1), pages 48-65, September.
    3. Eichner, Alfred S & Kregel, J A, 1975. "An Essay on Post-Keynesian Theory: A New Paradigm in Economics," Journal of Economic Literature, American Economic Association, vol. 13(4), pages 1293-1314, December.
    4. Arestis, Philip, 1996. "Post-Keynesian Economics: Towards Coherence," Cambridge Journal of Economics, Oxford University Press, vol. 20(1), pages 111-135, January.
    5. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    6. Paul Krugman & Julio Rotemberg, 1990. "Target Zones with Limited Reserves," NBER Working Papers 3418, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Unione Monetaria Europea; politica fiscale e politica monetaria;

    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
    • 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

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