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dc.contributor.authorBofinger, Peteren
dc.contributor.authorMayer, Ericen
dc.date.accessioned2011-07-18T14:59:37Z-
dc.date.available2011-07-18T14:59:37Z-
dc.date.issued2003-
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
dc.language.isoengen
dc.publisher|aUniversity of Würzburg, Department of Economics |cWürzburgen
dc.relation.ispartofseries|aW.E.P. - Würzburg Economic Papers |x40en
dc.subject.jelE50en
dc.subject.jelE60en
dc.subject.jelH70en
dc.subject.ddc330en
dc.subject.keywordMonetary policyen
dc.subject.keywordinflation targetingen
dc.subject.keywordfiscal policyen
dc.subject.keywordpolicy coordinationen
dc.subject.keywordfree-ridingen
dc.subject.stwGeldpolitiken
dc.subject.stwFinanzpolitiken
dc.subject.stwInternationale wirtschaftspolitische Koordinationen
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwPhillips-Kurveen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwTheorieen
dc.titleMonetary and fiscal policy interaction in the Euro area with different assumptions on the Phillips curve-
dc.typeWorking Paperen
dc.identifier.ppn821277960en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:wuewep:40en

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