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dc.contributor.authorBofinger, Peteren_US
dc.contributor.authorMayer, Ericen_US
dc.date.accessioned2011-07-18T14:59:37Z-
dc.date.available2011-07-18T14:59:37Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/48454-
dc.description.abstractIn this paper we carry over a static version of a New Keynesian Macro Model developed in previous papers (see Bofinger, Mayer, and Wollmershäuser 2002) to a monetary union. For a similar approach see (Uhlig 2002). We will show in particular that a harmonious functioning of a monetary union critically depends on the correlation of shocks that hit the currency area. Additionally a high degree of integration in product markets is advantageous for the ECB as it prevents that national real interest rates can drive a wedge between macroeconomic outcomes across member states. In particular small countries are in a vulnerable position exposed to asymmetric shocks and therefore in need for fiscal policy as an independent stabilization agent with room to breath.en_US
dc.language.isoengen_US
dc.publisherUniv., Lehrstuhl für VWL 1 Würzburgen_US
dc.relation.ispartofseriesWürzburg economic papers 40en_US
dc.subject.jelE50en_US
dc.subject.jelE60en_US
dc.subject.jelH70en_US
dc.subject.ddc330en_US
dc.subject.keywordMonetary policyen_US
dc.subject.keywordinflation targetingen_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordpolicy coordinationen_US
dc.subject.keywordfree-ridingen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwInternationale wirtschaftspolitische Koordinationen_US
dc.subject.stwUngleichgewichtstheorieen_US
dc.subject.stwPhillips-Kurveen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwTheorieen_US
dc.titleMonetary and fiscal policy interaction in the Euro area with different assumptions on the Phillips curveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn378420461en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:wuewep:40-
Appears in Collections:W.E.P. - Würzburg Economic Papers, Lst. f. VWL, Geld u. internat. Wirtschaftsbeziehungen, Universität Würzburg

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